Pinnacle West Capital Corporation $PNW Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its position in Pinnacle West Capital Corporation (NYSE:PNW) by 56.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,681 shares of the utilities provider’s stock after selling 7,401 shares during the period. QRG Capital Management Inc.’s holdings in Pinnacle West Capital were worth $572,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. HB Wealth Management LLC raised its holdings in shares of Pinnacle West Capital by 66.6% during the first quarter. HB Wealth Management LLC now owns 5,628 shares of the utilities provider’s stock valued at $567,000 after buying an additional 2,249 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in Pinnacle West Capital by 109.3% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 19,891 shares of the utilities provider’s stock valued at $2,004,000 after acquiring an additional 10,386 shares during the period. Root Financial Partners LLC increased its position in Pinnacle West Capital by 168.2% in the 1st quarter. Root Financial Partners LLC now owns 885 shares of the utilities provider’s stock valued at $89,000 after acquiring an additional 555 shares during the period. IFM Investors Pty Ltd bought a new stake in Pinnacle West Capital during the 1st quarter valued at $858,000. Finally, MQS Management LLC bought a new stake in Pinnacle West Capital during the 1st quarter valued at $326,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company set a $106.00 price target on Pinnacle West Capital in a research note on Tuesday, April 21st. Truist Financial cut their price objective on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating on the stock in a research note on Friday, May 29th. Barclays upped their price objective on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 1st. Wall Street Zen upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Argus raised 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 note on Tuesday, April 14th. Three equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $104.14.

Insider Activity

In related news, EVP Jacob Tetlow sold 6,567 shares of Pinnacle West Capital stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total value of $650,133.00. Following the transaction, the executive vice president directly owned 6,634 shares in the company, valued at $656,766. The trade was a 49.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is owned by insiders.

Pinnacle West Capital Stock Down 0.9%

NYSE PNW opened at $106.83 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. The company’s 50 day simple moving average is $102.87 and its 200 day simple moving average is $99.10. Pinnacle West Capital Corporation has a 12 month low of $85.32 and a 12 month high of $110.40. The company has a market capitalization of $12.95 billion, a P/E ratio of 19.89, a PEG ratio of 3.94 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.30. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities research analysts expect that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.64 annualized dividend and a dividend yield of 3.4%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 67.78%.

Pinnacle West Capital Company 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.