Edgestream Partners L.P. Sells 73,626 Shares of Pinnacle West Capital Corporation $PNW

Edgestream Partners L.P. trimmed its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 50.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 72,425 shares of the utilities provider’s stock after selling 73,626 shares during the period. Edgestream Partners L.P.’s holdings in Pinnacle West Capital were worth $7,297,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PNW. Kentucky Retirement Systems purchased a new position in shares of Pinnacle West Capital in the 1st quarter worth approximately $915,000. EverSource Wealth Advisors LLC lifted its position in Pinnacle West Capital by 55.5% during the first quarter. EverSource Wealth Advisors LLC now owns 827 shares of the utilities provider’s stock valued at $83,000 after acquiring an additional 295 shares during the last quarter. Empire Financial Management Company LLC purchased a new stake in Pinnacle West Capital during the first quarter valued at approximately $220,000. California State Teachers Retirement System boosted its stake in Pinnacle West Capital by 26.0% in the first quarter. California State Teachers Retirement System now owns 143,293 shares of the utilities provider’s stock valued at $14,437,000 after acquiring an additional 29,608 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Pinnacle West Capital by 6.5% in the first quarter. Royal Bank of Canada now owns 225,298 shares of the utilities provider’s stock valued at $22,699,000 after acquiring an additional 13,747 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $101.29 on Friday. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 3.72 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. The business has a fifty day moving average of $104.61 and a 200 day moving average of $100.98. Pinnacle West Capital Corporation has a 1 year low of $85.32 and a 1 year high of $111.16.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.30. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, research analysts expect that Pinnacle West Capital Corporation will post 4.74 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be issued a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.6%. Pinnacle West Capital’s payout ratio is 67.78%.

Insider Buying and Selling

In related news, EVP Jacob Tetlow sold 6,567 shares of the company’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 value of $650,133.00. Following the sale, the executive vice president owned 6,634 shares in the company, valued at $656,766. This represents a 49.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PNW. Jefferies Financial Group reaffirmed a “buy” rating and issued a $129.00 price target on shares of Pinnacle West Capital in a report on Wednesday, July 8th. Wall Street Zen raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Morgan Stanley set a $97.00 price objective on Pinnacle West Capital in a research report on Wednesday, July 22nd. Barclays upped their target price on Pinnacle West Capital from $102.00 to $108.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings upgraded Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $104.07.

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.