Squarepoint Ops LLC Boosts Stock Holdings in Pinnacle West Capital Corporation $PNW

Squarepoint Ops LLC raised its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 54.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,106,609 shares of the utilities provider’s stock after acquiring an additional 388,325 shares during the period. Squarepoint Ops LLC’s holdings in Pinnacle West Capital were worth $98,156,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PNW. Brighton Jones LLC purchased a new stake in Pinnacle West Capital during the fourth quarter valued at about $417,000. NewEdge Advisors LLC boosted its position in Pinnacle West Capital by 999.1% during the first quarter. NewEdge Advisors LLC now owns 8,210 shares of the utilities provider’s stock valued at $782,000 after buying an additional 7,463 shares during the period. Jones Financial Companies Lllp boosted its position in Pinnacle West Capital by 109.8% during the first quarter. Jones Financial Companies Lllp now owns 2,255 shares of the utilities provider’s stock valued at $215,000 after buying an additional 1,180 shares during the period. Goldman Sachs Group Inc. boosted its position in Pinnacle West Capital by 10.3% during the first quarter. Goldman Sachs Group Inc. now owns 441,047 shares of the utilities provider’s stock valued at $42,010,000 after buying an additional 41,173 shares during the period. Finally, Empowered Funds LLC boosted its position in Pinnacle West Capital by 12.8% during the first quarter. Empowered Funds LLC now owns 4,600 shares of the utilities provider’s stock valued at $438,000 after buying an additional 523 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pinnacle West Capital

In related news, EVP Jacob Tetlow sold 6,567 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total value of $650,133.00. Following the completion of the transaction, the executive vice president directly owned 6,634 shares of the company’s stock, valued at $656,766. This represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barclays upped 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. Citigroup upped their price objective on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Truist Financial lowered their price objective on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating for the company in a research note on Friday, May 29th. Morgan Stanley set a $92.00 price objective on shares of Pinnacle West Capital in a research note on Thursday, May 21st. Finally, BMO Capital Markets upped their price objective on shares of Pinnacle West Capital from $98.00 to $107.00 and gave the company a “market perform” rating in a research note on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $102.50.

Pinnacle West Capital Stock Performance

Shares of NYSE:PNW opened at $103.26 on Tuesday. The company has a market cap of $12.51 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 3.79 and a beta of 0.44. The company has a 50-day moving average price of $101.74 and a 200-day moving average price of $96.87. The company has a current ratio of 0.60, a quick ratio of 0.39 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.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 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 firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm posted ($0.04) earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, equities analysts anticipate 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 was paid on Monday, June 1st. Investors of record on Monday, May 4th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, May 4th. Pinnacle West Capital’s dividend payout ratio is presently 67.78%.

About Pinnacle West Capital

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.