Royal Bank of Canada Has $22.70 Million Stock Position in Pinnacle West Capital Corporation $PNW

Royal Bank of Canada lifted its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 225,298 shares of the utilities provider’s stock after purchasing an additional 13,747 shares during the period. Royal Bank of Canada owned 0.19% of Pinnacle West Capital worth $22,699,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PNW. DNB Asset Management AS raised its stake in shares of Pinnacle West Capital by 61.3% during the 4th quarter. DNB Asset Management AS now owns 44,843 shares of the utilities provider’s stock worth $3,978,000 after purchasing an additional 17,037 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its position in Pinnacle West Capital by 53.0% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 277,946 shares of the utilities provider’s stock valued at $24,654,000 after buying an additional 96,236 shares during the period. Qsemble Capital Management LP grew its position in Pinnacle West Capital by 393.7% during the fourth quarter. Qsemble Capital Management LP now owns 48,661 shares of the utilities provider’s stock valued at $4,316,000 after buying an additional 38,805 shares during the period. Fox Run Management L.L.C. purchased a new stake in Pinnacle West Capital during the fourth quarter worth about $1,789,000. Finally, Oak Thistle LLC increased its holdings in Pinnacle West Capital by 251.0% during the fourth quarter. Oak Thistle LLC now owns 44,316 shares of the utilities provider’s stock worth $3,931,000 after buying an additional 31,690 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity at Pinnacle West Capital

In related news, EVP Jacob Tetlow sold 6,567 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the completion of the transaction, the executive vice president owned 6,634 shares of the company’s stock, valued at $656,766. This trade represents a 49.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Pinnacle West Capital News Roundup

Here are the key news stories impacting Pinnacle West Capital this week:

• Positive Sentiment: Management expects 2026 earnings per share to be at the top end of its previously issued $4.55–$4.75 guidance range, offering reassurance that the full-year outlook remains intact despite quarterly cost pressures. Pinnacle West targets Cholla gas conversion and expects 2026 EPS at the top of its range
• Positive Sentiment: Pinnacle West plans to convert 380 megawatts of the Cholla power plant to natural gas by 2029. The project could support long-term generation capacity and reliability while helping address Arizona’s growing electricity demand. Cholla gas conversion announcement
• Neutral Sentiment: Second-quarter revenue rose 7.1% year over year to approximately $1.46 billion, exceeding the roughly $1.40 billion analyst estimate. However, higher fuel, purchased-power and interest costs limited the benefit to earnings. Pinnacle West Q2 earnings and revenue report
• Negative Sentiment: Quarterly EPS was $1.43, below the consensus estimate of $1.46–$1.49 and down from $1.58 a year earlier. The decline highlights margin pressure from operating and financing costs despite stronger sales. Pinnacle West Q2 earnings miss
• Negative Sentiment: The company entered an agreement for a $500 million equity distribution program. Although the capital could fund investment and infrastructure needs, potential share dilution may weigh on existing shareholders. Pinnacle West announces $500 million equity program

Pinnacle West Capital Price Performance

PNW stock opened at $101.53 on Thursday. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 3.71 and a beta of 0.44. The firm’s 50-day moving average price is $104.47 and its two-hundred day moving average price is $101.26. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $111.16.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.03). Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.97%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the firm posted $1.58 earnings per share. Pinnacle West Capital’s quarterly revenue was up 7.1% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, equities analysts predict that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.78%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PNW. Wells Fargo & Company set a $106.00 price target on shares of Pinnacle West Capital in a research note on Tuesday, April 21st. Weiss Ratings restated a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Monday. BMO Capital Markets lowered their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $129.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Finally, TD Cowen lifted their target price on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a research report on Friday, May 15th. Three equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $104.07.

About Pinnacle West Capital

Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company’s regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.

The company’s diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.