XTX Topco Ltd Grows Stock Position in Pinnacle West Capital Corporation $PNW

XTX Topco Ltd boosted its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 214.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,591 shares of the utilities provider’s stock after acquiring 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.

Several other hedge funds also recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC raised its position 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 period. Prudential Financial Inc. increased its position in shares of Pinnacle West Capital by 8.6% during the 2nd quarter. Prudential Financial Inc. now owns 68,128 shares of the utilities provider’s stock worth $6,095,000 after purchasing an additional 5,395 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Pinnacle West Capital by 5.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,101,325 shares of the utilities provider’s stock valued at $98,536,000 after buying an additional 57,278 shares during the period. Rhumbline Advisers lifted its position in Pinnacle West Capital by 10.1% in the second quarter. Rhumbline Advisers now owns 222,454 shares of the utilities provider’s stock valued at $19,903,000 after buying an additional 20,348 shares during the last quarter. Finally, Mufg Securities Americas Inc. lifted its position in Pinnacle West Capital by 31.4% in the second quarter. Mufg Securities Americas Inc. now owns 2,646 shares of the utilities provider’s stock valued at $237,000 after buying an additional 633 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PNW has been the subject of a number of research analyst reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $99.00 price objective on shares of Pinnacle West Capital in a research report on Monday, October 20th. Barclays raised 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. Mizuho cut Pinnacle West Capital from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $102.00 to $90.00 in a research note on Tuesday, September 9th. Argus decreased their target price on Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, September 30th. Finally, UBS Group raised their price objective on shares of Pinnacle West Capital from $95.00 to $101.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $97.38.

Pinnacle West Capital Trading Up 1.2%

NYSE 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 firm has a 50 day moving average of $89.71 and a two-hundred day moving average of $90.08. The stock has a market capitalization 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 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 issued its earnings results on Monday, November 3rd. The utilities provider reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.35. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.37 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. FY 2025 guidance at 4.900-5.100 EPS. As a group, research analysts expect that Pinnacle West Capital Corporation will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 3rd will be paid a dividend of $0.91 per share. The ex-dividend date is Monday, November 3rd. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a yield of 4.0%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 74.74%.

Pinnacle West Capital Company 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.