The Manufacturers Life Insurance Company Purchases 5,199 Shares of Pinnacle West Capital Corporation $PNW

The Manufacturers Life Insurance Company boosted its position in Pinnacle West Capital Corporation (NYSE:PNW) by 2.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 248,651 shares of the utilities provider’s stock after purchasing an additional 5,199 shares during the period. The Manufacturers Life Insurance Company owned about 0.21% of Pinnacle West Capital worth $26,606,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNW. Brighton Jones LLC acquired a new stake in shares of Pinnacle West Capital in the fourth quarter valued at approximately $417,000. NewEdge Advisors LLC increased its holdings in shares of Pinnacle West Capital by 999.1% during the 1st quarter. NewEdge Advisors LLC now owns 8,210 shares of the utilities provider’s stock worth $782,000 after acquiring an additional 7,463 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Pinnacle West Capital by 109.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,255 shares of the utilities provider’s stock worth $215,000 after acquiring an additional 1,180 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Pinnacle West Capital by 10.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 441,047 shares of the utilities provider’s stock valued at $42,010,000 after acquiring an additional 41,173 shares during the period. Finally, Empowered Funds LLC raised its stake in Pinnacle West Capital by 12.8% in the 1st quarter. Empowered Funds LLC now owns 4,600 shares of the utilities provider’s stock valued at $438,000 after acquiring an additional 523 shares during the period. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

PNW has been the subject of a number of research analyst reports. Truist Financial reduced their price objective on shares of Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating for the company in a research report on Monday, August 17th. Jefferies Financial Group reissued a “buy” rating and issued a $129.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Weiss Ratings restated a “buy (b)” rating on shares of Pinnacle West Capital in a research note on Monday, August 3rd. TD Cowen restated a “hold” rating on shares of Pinnacle West Capital in a research note on Wednesday, August 12th. Finally, Morgan Stanley reduced their target price on shares of Pinnacle West Capital from $97.00 to $94.00 and set an “equal weight” rating for the company in a report on Friday, August 21st. Three equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $104.62.

Pinnacle West Capital Stock Performance

PNW opened at $96.26 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41. The business has a fifty day simple moving average of $101.85 and a 200 day simple moving average of $101.92. Pinnacle West Capital Corporation has a 1 year low of $85.32 and a 1 year high of $111.16. The company has a market capitalization of $11.67 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 3.51 and a beta of 0.45.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.03). The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts expect that Pinnacle West Capital Corporation will post 4.71 EPS for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd were issued a $0.91 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $3.64 dividend on an annualized basis and a yield of 3.8%. Pinnacle West Capital’s payout ratio is currently 69.73%.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, SVP Luis Esparza, Jr. sold 1,800 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $102.01, for a total transaction of $183,618.00. Following the transaction, the senior vice president owned 4,910 shares in the company, valued at $500,869.10. This represents a 26.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Elizabeth Blankenship sold 980 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $99.17, for a total transaction of $97,186.60. Following the transaction, the chief accounting officer directly owned 10,886 shares in the company, valued at $1,079,564.62. This represents a 8.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.19% of the company’s stock.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation (NYSE: PNW) is an energy holding company headquartered in Phoenix, Arizona. Its principal subsidiary, Arizona Public Service Company (APS), is an electric utility that provides power to residential, commercial and industrial customers throughout much of Arizona.

Through APS, Pinnacle West is involved in the generation, transmission and distribution of electricity. Its generation portfolio includes nuclear, natural gas, coal, solar and other renewable energy resources.