Y Intercept Hong Kong Ltd Purchases 10,386 Shares of Pinnacle West Capital Corporation $PNW

Y Intercept Hong Kong Ltd raised its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 109.3% in the 1st quarter, Holdings Channel reports. The firm owned 19,891 shares of the utilities provider’s stock after acquiring an additional 10,386 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Pinnacle West Capital were worth $2,004,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aristotle Capital Boston LLC bought a new stake in shares of Pinnacle West Capital during the 3rd quarter worth $1,007,000. Gotham Asset Management LLC grew its position in Pinnacle West Capital by 37.4% in the third quarter. Gotham Asset Management LLC now owns 367,950 shares of the utilities provider’s stock valued at $32,990,000 after acquiring an additional 100,120 shares during the last quarter. DNB Asset Management AS raised its stake in Pinnacle West Capital by 61.3% during the fourth quarter. DNB Asset Management AS now owns 44,843 shares of the utilities provider’s stock worth $3,978,000 after acquiring an additional 17,037 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Pinnacle West Capital by 8.5% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock worth $647,679,000 after acquiring an additional 568,581 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in shares of Pinnacle West Capital by 53.0% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 277,946 shares of the utilities provider’s stock worth $24,654,000 after acquiring an additional 96,236 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Trading Down 0.8%

PNW opened at $107.74 on Thursday. Pinnacle West Capital Corporation has a fifty-two week low of $85.32 and a fifty-two week high of $110.40. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. The firm has a market capitalization of $13.06 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 3.97 and a beta of 0.43. The company’s 50 day moving average price is $102.80 and its two-hundred day moving average price is $98.96.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.30. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.08 billion. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, research analysts predict that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 67.78%.

Analysts Set New Price Targets

PNW has been the topic of several research reports. Truist Financial decreased their price target on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Morgan Stanley set a $95.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, June 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $129.00 target price on shares of Pinnacle West Capital in a research note on Wednesday. Barclays upped their price target on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 1st. Finally, TD Cowen increased their price target on Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a research note on Friday, May 15th. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, Pinnacle West Capital currently has an average rating of “Hold” and a consensus target price of $104.14.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of Pinnacle West Capital stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the transaction, the executive vice president directly owned 6,634 shares of the company’s stock, valued at approximately $656,766. The trade was a 49.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

Pinnacle West Capital Company Profile

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.