Royal Bank of Canada Acquires 13,747 Shares of Pinnacle West Capital Corporation $PNW

Royal Bank of Canada grew its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,298 shares of the utilities provider’s stock after buying an additional 13,747 shares during the quarter. Royal Bank of Canada’s holdings in Pinnacle West Capital were worth $22,699,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PNW. Resolution Capital Ltd grew its position in shares of Pinnacle West Capital by 127.0% during the first quarter. Resolution Capital Ltd now owns 45,712 shares of the utilities provider’s stock worth $4,605,000 after purchasing an additional 25,577 shares in the last quarter. Empowered Funds LLC lifted its holdings in Pinnacle West Capital by 89.1% in the 1st quarter. Empowered Funds LLC now owns 5,988 shares of the utilities provider’s stock worth $603,000 after purchasing an additional 2,822 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Pinnacle West Capital by 0.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 243,452 shares of the utilities provider’s stock worth $24,528,000 after purchasing an additional 1,524 shares during the period. Excelsior Advisor Network LLC grew its holdings in Pinnacle West Capital by 4.3% during the 1st quarter. Excelsior Advisor Network LLC now owns 2,625 shares of the utilities provider’s stock valued at $264,000 after buying an additional 108 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in Pinnacle West Capital by 38.0% during the 1st quarter. Quantinno Capital Management LP now owns 394,870 shares of the utilities provider’s stock valued at $39,783,000 after buying an additional 108,778 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital News Summary

Here are the key news stories impacting Pinnacle West Capital this week:

• Positive Sentiment: Management expects 2026 earnings per share to be at the top end of its previously issued $4.55–$4.75 guidance range, offering reassurance that the full-year outlook remains intact despite quarterly cost pressures. Pinnacle West targets Cholla gas conversion and expects 2026 EPS at the top of its range
• Positive Sentiment: Pinnacle West plans to convert 380 megawatts of the Cholla power plant to natural gas by 2029. The project could support long-term generation capacity and reliability while helping address Arizona’s growing electricity demand. Cholla gas conversion announcement
• Neutral Sentiment: Second-quarter revenue rose 7.1% year over year to approximately $1.46 billion, exceeding the roughly $1.40 billion analyst estimate. However, higher fuel, purchased-power and interest costs limited the benefit to earnings. Pinnacle West Q2 earnings and revenue report
• Negative Sentiment: Quarterly EPS was $1.43, below the consensus estimate of $1.46–$1.49 and down from $1.58 a year earlier. The decline highlights margin pressure from operating and financing costs despite stronger sales. Pinnacle West Q2 earnings miss
• Negative Sentiment: The company entered an agreement for a $500 million equity distribution program. Although the capital could fund investment and infrastructure needs, potential share dilution may weigh on existing shareholders. Pinnacle West announces $500 million equity program

Insider Buying and Selling at Pinnacle West Capital

In other news, EVP Jacob Tetlow sold 6,567 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the sale, the executive vice president directly owned 6,634 shares of the company’s stock, valued at $656,766. The trade was 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 through this hyperlink. 0.19% of the stock is owned by company insiders.

Pinnacle West Capital Stock Up 0.1%

Shares of NYSE PNW opened at $101.53 on Thursday. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $111.16. The stock’s fifty day simple moving average is $104.47 and its two-hundred day simple moving average is $101.26. The stock has a market capitalization of $12.30 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 3.71 and a beta of 0.44. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). Pinnacle West Capital had a return on equity of 8.97% and a net margin of 11.52%.The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the company posted $1.58 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, analysts expect that Pinnacle West Capital Corporation will post 4.7 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

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. This represents a $3.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital’s payout ratio is presently 67.78%.

Analyst Ratings Changes

Several research firms have recently commented on PNW. BMO Capital Markets lowered their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $129.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. Morgan Stanley set a $97.00 price objective on Pinnacle West Capital in a research report on Wednesday, July 22nd. TD Cowen boosted their price target on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a research report on Friday, May 15th. Finally, Wall Street Zen raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $104.07.

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.