Profund Advisors LLC Purchases 1,526 Shares of Pinnacle West Capital Corporation $PNW

Profund Advisors LLC lifted its position in Pinnacle West Capital Corporation (NYSE:PNW) by 34.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,004 shares of the utilities provider’s stock after purchasing an additional 1,526 shares during the quarter. Profund Advisors LLC’s holdings in Pinnacle West Capital were worth $537,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. ATLAS Infrastructure Partners UK Ltd. raised its holdings in shares of Pinnacle West Capital by 230.5% in the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,793,546 shares of the utilities provider’s stock valued at $266,085,000 after acquiring an additional 1,948,416 shares in the last quarter. Nuveen LLC purchased a new stake in Pinnacle West Capital in the first quarter valued at approximately $99,364,000. Vanguard Group Inc. lifted its position in Pinnacle West Capital by 2.0% during the first quarter. Vanguard Group Inc. now owns 14,464,661 shares of the utilities provider’s stock valued at $1,377,759,000 after purchasing an additional 283,752 shares during the last quarter. Midwest Trust Co purchased a new position in Pinnacle West Capital in the 2nd quarter worth approximately $17,851,000. Finally, AQR Capital Management LLC grew its stake in Pinnacle West Capital by 56.4% in the 1st quarter. AQR Capital Management LLC now owns 414,529 shares of the utilities provider’s stock worth $39,484,000 after buying an additional 149,488 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PNW. Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Wednesday, October 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $99.00 price target on shares of Pinnacle West Capital in a research note on Monday, October 20th. UBS Group upped 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. Argus decreased their price objective on Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, September 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 target price on shares of Pinnacle West Capital in a research note on Tuesday, November 4th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Pinnacle West Capital presently has a consensus rating of “Hold” and an average target price of $97.54.

Pinnacle West Capital Trading Up 0.2%

NYSE PNW opened at $88.97 on Thursday. The stock has a market cap of $10.65 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 9.23 and a beta of 0.50. Pinnacle West Capital Corporation has a fifty-two week low of $81.47 and a fifty-two week high of $96.50. The stock has a 50 day simple moving average of $89.40 and a two-hundred day simple moving average of $90.40. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.37 and a current ratio of 0.52.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Monday, November 3rd. The utilities provider reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.35. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. Pinnacle West Capital had a return on equity of 8.45% and a net margin of 10.96%.The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.37 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. FY 2025 guidance at 4.900-5.100 EPS. On average, analysts forecast that Pinnacle West Capital Corporation will post 5.13 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 Monday, December 1st. Investors of record on Monday, November 3rd will be paid a $0.91 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a yield of 4.1%. Pinnacle West Capital’s payout ratio is currently 74.74%.

Pinnacle West Capital Company Profile

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.