TD Asset Management Inc Acquires 5,540 Shares of Pinnacle West Capital Corporation $PNW

TD Asset Management Inc increased its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 7.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 82,006 shares of the utilities provider’s stock after purchasing an additional 5,540 shares during the period. TD Asset Management Inc owned approximately 0.07% of Pinnacle West Capital worth $8,775,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Choreo LLC acquired a new stake in Pinnacle West Capital in the 2nd quarter valued at approximately $245,000. Massachusetts Financial Services Co. MA increased its position in Pinnacle West Capital by 0.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,853,685 shares of the utilities provider’s stock worth $305,344,000 after buying an additional 9,298 shares during the period. JFS Wealth Advisors LLC lifted its holdings in shares of Pinnacle West Capital by 109.6% during the second quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock worth $26,000 after buying an additional 126 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of Pinnacle West Capital by 6.0% during the second quarter. Wealthcare Advisory Partners LLC now owns 18,681 shares of the utilities provider’s stock worth $1,999,000 after buying an additional 1,057 shares during the last quarter. Finally, Everhart Financial Group Inc. boosted its position in shares of Pinnacle West Capital by 5.1% in the second quarter. Everhart Financial Group Inc. now owns 2,481 shares of the utilities provider’s stock valued at $265,000 after acquiring an additional 120 shares during the period. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $101.39 on Friday. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $111.16. The firm has a market capitalization of $12.29 billion, a PE ratio of 19.42, a PEG ratio of 3.69 and a beta of 0.44. The business’s 50 day moving average is $104.54 and its 200-day moving average is $101.57. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.40 billion. Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Sell-side analysts predict that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital’s payout ratio is 69.73%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PNW shares. Jefferies Financial Group restated a “buy” rating and issued a $129.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. Wells Fargo & Company set a $106.00 target price on shares of Pinnacle West Capital in a research note on Tuesday, April 21st. Wall Street Zen cut shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. BMO Capital Markets reduced their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. Finally, TD Cowen restated a “hold” rating on shares of Pinnacle West Capital in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $104.07.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Blankenship sold 980 shares of Pinnacle West Capital stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $99.17, for a total transaction of $97,186.60. Following the sale, the chief accounting officer directly owned 10,886 shares in the company, valued at approximately $1,079,564.62. The trade was a 8.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $102.01, for a total transaction of $183,618.00. Following the sale, the senior vice president owned 4,910 shares in the company, valued at approximately $500,869.10. This trade represents a 26.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.19% of the company’s stock.

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.