Squarepoint Ops LLC Sells 346,212 Shares of Pinnacle West Capital Corporation $PNW

Squarepoint Ops LLC lowered its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 28.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 881,636 shares of the utilities provider’s stock after selling 346,212 shares during the quarter. Squarepoint Ops LLC’s holdings in Pinnacle West Capital were worth $94,335,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. California State Teachers Retirement System grew its stake in shares of Pinnacle West Capital by 10,353.5% during the second quarter. California State Teachers Retirement System now owns 14,979,144 shares of the utilities provider’s stock worth $1,602,768,000 after buying an additional 14,835,851 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Pinnacle West Capital during the 2nd quarter valued at $703,598,000. Norges Bank acquired a new stake in shares of Pinnacle West Capital during the 4th quarter valued at $140,468,000. ATLAS Infrastructure Partners UK Ltd. grew its position in 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 acquiring an additional 1,369,350 shares during the last quarter. Finally, Soroban Capital Partners LP grew its position in 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 worth $388,373,000 after acquiring an additional 977,411 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital stock in a transaction on Friday, August 7th. The shares were sold at an average price of $102.01, for a total value of $183,618.00. Following the completion of the sale, the senior vice president owned 4,910 shares of the company’s stock, valued at approximately $500,869.10. This trade represents a 26.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Elizabeth Blankenship sold 980 shares of the business’s 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 sale, the chief accounting officer owned 10,886 shares of the company’s stock, valued at $1,079,564.62. This trade represents a 8.26% decrease in their position. The SEC filing for this sale provides additional information. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Jefferies Financial Group restated a “buy” rating and set a $129.00 price target on shares of Pinnacle West Capital in a report on Wednesday, July 8th. Barclays raised 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. Truist Financial cut their target price on shares of Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a research report on Monday, August 17th. Morgan Stanley reduced their target price on shares of Pinnacle West Capital from $97.00 to $94.00 and set an “equal weight” rating on the stock in a report on Friday, August 21st. Finally, BMO Capital Markets decreased their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $104.62.

Pinnacle West Capital Price Performance

Shares of NYSE PNW opened at $98.15 on Wednesday. The firm’s 50-day moving average price is $102.55 and its 200-day moving average price is $101.98. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $111.16. The firm has a market capitalization of $11.90 billion, a P/E ratio of 18.80, a P/E/G ratio of 3.56 and a beta of 0.45. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities research analysts anticipate that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 3rd were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) 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.