Epoch Investment Partners Inc. Trims Stake in Pinnacle West Capital Corporation $PNW

Epoch Investment Partners Inc. lessened its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 1.4% during the 1st quarter, HoldingsChannel reports. The fund owned 498,231 shares of the utilities provider’s stock after selling 7,021 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Pinnacle West Capital were worth $50,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PNW. ATLAS Infrastructure Partners UK Ltd. increased its stake in shares of Pinnacle West Capital by 44.3% in the 4th quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock worth $395,712,000 after purchasing an additional 1,369,350 shares in the last quarter. Invesco Ltd. lifted its position in Pinnacle West Capital by 1.8% during the fourth quarter. Invesco Ltd. now owns 4,249,267 shares of the utilities provider’s stock valued at $376,910,000 after purchasing an additional 74,023 shares in the last quarter. Geode Capital Management LLC lifted its position in Pinnacle West Capital by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,095,691 shares of the utilities provider’s stock valued at $274,117,000 after purchasing an additional 27,861 shares in the last quarter. Norges Bank bought a new stake in Pinnacle West Capital during the fourth quarter valued at about $140,468,000. Finally, First Trust Advisors LP grew its holdings in Pinnacle West Capital by 4.9% during the fourth quarter. First Trust Advisors LP now owns 1,371,150 shares of the utilities provider’s stock valued at $121,621,000 after purchasing an additional 63,729 shares during the period. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling

In other Pinnacle West Capital 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 transaction of $650,133.00. Following the completion of the transaction, the executive vice president owned 6,634 shares of the company’s stock, valued at $656,766. This represents a 49.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by insiders.

Pinnacle West Capital Trading Up 0.8%

Shares of PNW opened at $106.22 on Friday. The firm has a market cap of $12.87 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 3.86 and a beta of 0.43. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. Pinnacle West Capital Corporation has a 1 year low of $85.32 and a 1 year high of $111.16. The company has a 50 day simple moving average of $104.42 and a two-hundred day simple moving average of $100.47.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm earned ($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. On average, equities analysts expect that Pinnacle West Capital Corporation will post 4.74 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be paid a $0.91 dividend. The ex-dividend date is Monday, August 3rd. This represents a $3.64 annualized dividend and a yield of 3.4%. Pinnacle West Capital’s payout ratio is presently 67.78%.

Wall Street Analyst Weigh In

PNW has been the topic of several recent research reports. Wall Street Zen raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Morgan Stanley set a $97.00 price objective on Pinnacle West Capital in a research note on Wednesday. Weiss Ratings raised shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. TD Cowen raised their target price on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a research note on Friday, May 15th. Finally, Argus raised their target price on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Three research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $104.07.

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.