20,912 Shares in Pinnacle West Capital Corporation $PNW Purchased by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. purchased a new stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 20,912 shares of the utilities provider’s stock, valued at approximately $2,238,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Pinnacle West Capital in the fourth quarter valued at approximately $140,468,000. ATLAS Infrastructure Partners UK Ltd. grew its stake in shares of Pinnacle West Capital by 44.3% during 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 during the period. Soroban Capital Partners LP increased its holdings in shares of Pinnacle West Capital by 34.0% during the 1st quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider’s stock valued at $388,373,000 after purchasing an additional 977,411 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Pinnacle West Capital during the 4th quarter valued at approximately $68,008,000. Finally, Wellington Management Group LLP purchased a new position in shares of Pinnacle West Capital during the 4th quarter valued at approximately $57,379,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pinnacle West Capital

In other Pinnacle West Capital news, CAO Elizabeth A. Blankenship sold 980 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $99.17, for a total transaction of $97,186.60. Following the transaction, the chief accounting officer directly owned 10,886 shares of the company’s stock, valued at $1,079,564.62. This trade represents a 8.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $102.01, for a total transaction of $183,618.00. Following the completion of the sale, the senior vice president owned 4,910 shares in the company, valued at approximately $500,869.10. This trade represents a 26.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PNW. Truist Financial lowered their price target on shares of Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a report on Monday, August 17th. Morgan Stanley cut their price objective on shares of Pinnacle West Capital from $97.00 to $94.00 and set an “equal weight” rating for the company in a report on Friday. Barclays lifted their price objective on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the company an “equal weight” rating in a report on Wednesday, July 1st. TD Cowen reiterated a “hold” rating on shares of Pinnacle West Capital in a research report on Wednesday, August 12th. Finally, 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 research note on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $103.57.

Pinnacle West Capital Stock Down 2.0%

Pinnacle West Capital stock opened at $97.36 on Friday. The stock has a market capitalization of $11.80 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 3.56 and a beta of 0.44. Pinnacle West Capital Corporation has a 12 month low of $85.32 and a 12 month high of $111.16. The business has a 50 day simple moving average of $104.21 and a 200-day simple moving average of $101.77. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41.

Pinnacle West Capital (NYSE:PNW) last announced its 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 net margin of 11.52% and a return on equity of 8.99%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the business earned $1.58 EPS. The company’s quarterly revenue 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. On average, analysts anticipate that Pinnacle West Capital Corporation will post 4.71 EPS 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. Shareholders of record on Monday, August 3rd will be given a dividend of $0.91 per share. The ex-dividend date is Monday, August 3rd. This represents a $3.64 dividend on an annualized basis and a yield of 3.7%. Pinnacle West Capital’s dividend payout ratio is currently 69.73%.

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.