Hsbc Holdings PLC Has $57.31 Million Stock Holdings in Pinnacle West Capital Corporation $PNW

Hsbc Holdings PLC lifted its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 49.9% during the 4th quarter, Holdings Channel reports. The firm owned 645,487 shares of the utilities provider’s stock after purchasing an additional 214,907 shares during the quarter. Hsbc Holdings PLC’s holdings in Pinnacle West Capital were worth $57,309,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Empowered Funds LLC increased its holdings in Pinnacle West Capital by 3.8% in the fourth quarter. Empowered Funds LLC now owns 3,166 shares of the utilities provider’s stock worth $281,000 after purchasing an additional 116 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Pinnacle West Capital by 2.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 4,711 shares of the utilities provider’s stock worth $418,000 after buying an additional 131 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Pinnacle West Capital by 11.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the utilities provider’s stock worth $119,000 after buying an additional 140 shares during the period. Truist Financial Corp increased its stake in shares of Pinnacle West Capital by 4.7% in the 4th quarter. Truist Financial Corp now owns 3,733 shares of the utilities provider’s stock valued at $331,000 after acquiring an additional 167 shares in the last quarter. Finally, New York Life Investment Management LLC increased its stake in shares of Pinnacle West Capital by 1.1% in the 4th quarter. New York Life Investment Management LLC now owns 16,192 shares of the utilities provider’s stock valued at $1,436,000 after acquiring an additional 170 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analyst Ratings Changes

PNW has been the topic of a number of research reports. Argus boosted their target price on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Wells Fargo & Company set a $106.00 price target on shares of Pinnacle West Capital in a research note on Tuesday, April 21st. 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 report on Thursday, February 26th. Wall Street Zen cut shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, Truist Financial reduced their target price on 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. Three equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $102.50.

Pinnacle West Capital Price Performance

Shares of NYSE:PNW opened at $102.48 on Tuesday. The stock’s 50 day moving average is $101.71 and its 200-day moving average is $97.31. Pinnacle West Capital Corporation has a twelve month low of $85.32 and a twelve month high of $105.08. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $12.42 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 3.75 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.30. The firm had revenue of $1.15 billion for 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 business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Sell-side analysts forecast that Pinnacle West Capital Corporation will post 4.7 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

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

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the completion of the sale, 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

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.