XTX Topco Ltd Increases Stake in Pinnacle West Capital Corporation $PNW

XTX Topco Ltd boosted its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 214.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,591 shares of the utilities provider’s stock after purchasing an additional 16,098 shares during the period. XTX Topco Ltd’s holdings in Pinnacle West Capital were worth $2,111,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clearstead Trust LLC purchased a new stake in shares of Pinnacle West Capital during the first quarter valued at $25,000. Costello Asset Management INC purchased a new position in shares of Pinnacle West Capital during the first quarter worth $26,000. Ameritas Advisory Services LLC purchased a new position in shares of Pinnacle West Capital during the second quarter worth $31,000. Brooklyn Investment Group lifted its position in Pinnacle West Capital by 440.0% during the first quarter. Brooklyn Investment Group now owns 486 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 396 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Pinnacle West Capital by 72.2% in the second quarter. Steward Partners Investment Advisory LLC now owns 508 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 1.2%

Shares of PNW opened at $90.61 on Thursday. Pinnacle West Capital Corporation has a 52-week low of $81.47 and a 52-week high of $96.50. The stock has a market cap of $10.85 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 9.23 and a beta of 0.50. The firm’s fifty day moving average is $89.71 and its two-hundred day moving average is $90.08. The company has a quick ratio of 0.37, a current ratio of 0.52 and a debt-to-equity ratio of 1.25.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Monday, November 3rd. The utilities provider reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.35. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $3.37 EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. FY 2025 guidance at 4.900-5.100 EPS. Research analysts forecast that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 3rd will be issued a dividend of $0.91 per share. The ex-dividend date is Monday, November 3rd. This represents a $3.64 annualized dividend and a dividend yield of 4.0%. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.90. Pinnacle West Capital’s payout ratio is presently 74.74%.

Analyst Ratings Changes

PNW has been the subject of several analyst reports. Royal Bank Of Canada raised Pinnacle West Capital to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Pinnacle West Capital in a report on Wednesday, October 8th. Barclays increased their price target on Pinnacle West Capital from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Morgan Stanley set a $91.00 price objective on Pinnacle West Capital in a research report on Thursday, November 20th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $99.00 target price on shares of Pinnacle West Capital in a research report on Monday, October 20th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $97.38.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.