Sequoia Financial Advisors LLC Buys 7,009 Shares of Pinnacle West Capital Corporation $PNW

Sequoia Financial Advisors LLC boosted its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 109.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,417 shares of the utilities provider’s stock after acquiring an additional 7,009 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Pinnacle West Capital were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Capital Research Global Investors grew its stake in Pinnacle West Capital by 5.0% in the 3rd quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider’s stock valued at $1,421,407,000 after buying an additional 758,190 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Pinnacle West Capital by 8.5% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock valued at $647,679,000 after buying an additional 568,581 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Pinnacle West Capital by 7.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,983,626 shares of the utilities provider’s stock valued at $267,512,000 after buying an additional 203,136 shares in the last quarter. Reaves W H & Co. Inc. grew its stake in Pinnacle West Capital by 21.3% in the 3rd quarter. Reaves W H & Co. Inc. now owns 1,804,114 shares of the utilities provider’s stock valued at $161,757,000 after buying an additional 316,193 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Pinnacle West Capital by 6.3% in the 3rd quarter. First Trust Advisors LP now owns 1,307,421 shares of the utilities provider’s stock valued at $117,223,000 after buying an additional 76,930 shares in 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 recent research reports. Morgan Stanley reduced their price objective on shares of Pinnacle West Capital from $99.00 to $98.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. BMO Capital Markets boosted their price target on shares of Pinnacle West Capital from $98.00 to $107.00 and gave the company a “market perform” rating in a research report on Thursday, February 26th. Royal Bank Of Canada restated a “sector perform” rating and set a $103.00 price target on shares of Pinnacle West Capital in a research report on Friday, January 23rd. Truist Financial assumed coverage on shares of Pinnacle West Capital in a research report on Monday, April 20th. They set a “hold” rating and a $108.00 price target for the company. Finally, Barclays boosted their price target on shares of Pinnacle West Capital from $101.00 to $102.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $103.07.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $99.84 on Wednesday. The company has a 50-day simple moving average of $101.49 and a two-hundred day simple moving average of $94.85. The company has a quick ratio of 0.39, a current ratio of 0.60 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 $104.92. The firm has a market cap of $12.10 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 3.65 and a beta of 0.46.

Pinnacle West Capital (NYSE:PNW) last posted 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. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the business posted ($0.04) earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, equities analysts forecast that Pinnacle West Capital Corporation will post 4.7 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 4th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, May 4th. Pinnacle West Capital’s dividend payout ratio is presently 67.78%.

Pinnacle West Capital 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.