Pinnacle West Capital Corporation $PNW Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 14.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 222,868 shares of the utilities provider’s stock after selling 37,801 shares during the period. Bank of Montreal Can’s holdings in Pinnacle West Capital were worth $19,940,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its holdings in shares of Pinnacle West Capital by 1.3% in the second quarter. Exchange Traded Concepts LLC now owns 9,846 shares of the utilities provider’s stock worth $881,000 after acquiring an additional 122 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its position in Pinnacle West Capital by 0.9% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 13,516 shares of the utilities provider’s stock worth $1,209,000 after purchasing an additional 122 shares in the last quarter. Allworth Financial LP raised its stake in Pinnacle West Capital by 19.1% in the 1st quarter. Allworth Financial LP now owns 780 shares of the utilities provider’s stock valued at $74,000 after purchasing an additional 125 shares during the last quarter. AE Wealth Management LLC raised its stake in Pinnacle West Capital by 4.9% in the 1st quarter. AE Wealth Management LLC now owns 2,929 shares of the utilities provider’s stock valued at $279,000 after purchasing an additional 137 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in Pinnacle West Capital by 4.0% in the 1st quarter. IFP Advisors Inc now owns 4,062 shares of the utilities provider’s stock valued at $387,000 after purchasing an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $87.88 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.37 and a current ratio of 0.52. The firm has a market capitalization of $10.52 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 9.23 and a beta of 0.50. Pinnacle West Capital Corporation has a one year low of $81.47 and a one year high of $96.50. The company has a 50 day moving average price of $89.43 and a 200 day moving average price of $90.55.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Monday, November 3rd. The utilities provider reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.35. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. Pinnacle West Capital’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $3.37 EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. FY 2025 guidance at 4.900-5.100 EPS. Sell-side analysts anticipate that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Pinnacle West Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 3rd will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 4.1%. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Monday, November 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 74.74%.

Insider Buying and Selling

In other news, EVP Jacob Tetlow sold 6,496 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $92.37, for a total value of $600,035.52. Following the transaction, the executive vice president directly owned 56 shares in the company, valued at $5,172.72. This trade represents a 99.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PNW has been the subject of a number of recent research reports. Zacks Research downgraded shares of Pinnacle West Capital from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. KeyCorp decreased their target price on shares of Pinnacle West Capital from $100.00 to $97.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 15th. Wells Fargo & Company raised shares of Pinnacle West Capital to a “hold” rating in a research note on Tuesday, October 28th. Royal Bank Of Canada upgraded Pinnacle West Capital to a “hold” rating in a report on Tuesday, October 28th. Finally, UBS Group raised their price objective on Pinnacle West Capital from $95.00 to $101.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $97.54.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.