Pinnacle West Capital Corporation $PNW Stock: Sterling Capital Management LLC Raises Stake

Sterling Capital Management LLC grew its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 909.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,788 shares of the utilities provider’s stock after buying an additional 33,144 shares during the quarter. Sterling Capital Management LLC’s holdings in Pinnacle West Capital were worth $3,423,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its position in shares of Pinnacle West Capital by 109.6% during the second quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 126 shares in the last quarter. Compass Financial Management LLC bought a new position in Pinnacle West Capital in the 2nd quarter valued at approximately $33,000. Bell Investment Advisors Inc lifted its position in Pinnacle West Capital by 144.9% in the 2nd quarter. Bell Investment Advisors Inc now owns 338 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 200 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Pinnacle West Capital by 41,300.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 414 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 413 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in Pinnacle West Capital by 56.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 579 shares of the utilities provider’s stock valued at $62,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Barclays cut their target price on Pinnacle West Capital from $108.00 to $94.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 1st. Scotiabank assumed coverage on Pinnacle West Capital in a research note on Tuesday, September 29th. They issued a “sector outperform” rating and a $104.00 price target for the company. BMO Capital Markets lowered their price target on 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. Morgan Stanley increased their price objective on Pinnacle West Capital from $89.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, HSBC initiated coverage on Pinnacle West Capital in a report on Thursday. They issued a “buy” rating and a $119.50 price objective for the company. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, Pinnacle West Capital has an average rating of “Hold” and an average target price of $103.39.

Insiders Place Their Bets

In related news, CAO Elizabeth A. Blankenship sold 980 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $99.17, for a total transaction of $97,186.60. Following the completion of the sale, the chief accounting officer owned 10,886 shares in the company, valued at approximately $1,079,564.62. This represents a 8.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the stock in a transaction dated 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 transaction, the senior vice president directly owned 4,910 shares in the company, valued at approximately $500,869.10. This 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.

Pinnacle West Capital Trading Down 0.6%

Shares of PNW stock opened at $105.98 on Friday. Pinnacle West Capital Corporation has a 12-month low of $86.18 and a 12-month high of $111.16. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38. The firm’s 50 day moving average is $97.63 and its 200 day moving average is $101.23. The stock has a market capitalization of $12.84 billion, a P/E ratio of 20.30, a P/E/G ratio of 3.79 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW) last posted 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 company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $1.58 EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts expect that Pinnacle West Capital Corporation will post 4.81 earnings per share for the current year.

Pinnacle West Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 2nd will be paid a $0.9250 dividend. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.91. The ex-dividend date is Monday, November 2nd. This represents a $3.70 dividend on an annualized basis and a dividend yield of 3.5%. Pinnacle West Capital’s dividend payout ratio (DPR) is 70.88%.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation (NYSE:PNW) is an energy holding company based in Phoenix, Arizona. Its principal subsidiary, Arizona Public Service Company (APS), is an electric utility that generates, transmits and distributes electricity to customers across Arizona.

APS serves residential, commercial, industrial and governmental customers through a diverse power portfolio that includes nuclear, natural gas, coal, solar and other renewable energy resources. The utility is also involved in maintaining and expanding the electric grid, supporting energy-efficiency programs and developing cleaner energy resources.