Pinnacle West Capital Corporation $PNW Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 12.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 925,752 shares of the utilities provider’s stock after purchasing an additional 101,765 shares during the period. Franklin Resources Inc. owned about 0.78% of Pinnacle West Capital worth $82,827,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Clearstead Trust LLC acquired a new position in Pinnacle West Capital during the 1st quarter worth approximately $25,000. Costello Asset Management INC acquired a new stake in shares of Pinnacle West Capital in the 1st quarter valued at $26,000. Ameritas Advisory Services LLC acquired a new stake in shares of Pinnacle West Capital in the 2nd quarter valued at $31,000. Brooklyn Investment Group lifted its position in shares of Pinnacle West Capital by 440.0% during the 1st quarter. Brooklyn Investment Group now owns 486 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 396 shares during the last quarter. Finally, CNB Bank acquired a new position in shares of Pinnacle West Capital during the second quarter worth $64,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PNW has been the topic of a number of recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 price objective on shares of Pinnacle West Capital in a report on Tuesday, November 4th. Argus lowered their price target on Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, September 30th. Mizuho cut shares of Pinnacle West Capital from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $102.00 to $90.00 in a report on Tuesday, September 9th. Weiss Ratings restated a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Wednesday, October 8th. Finally, Barclays upped their target price on shares of Pinnacle West Capital from $93.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $97.38.

Pinnacle West Capital Trading Up 0.5%

Shares of Pinnacle West Capital stock opened at $89.55 on Tuesday. The firm has a market cap of $10.72 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 9.23 and a beta of 0.50. Pinnacle West Capital Corporation has a 52-week low of $81.47 and a 52-week high of $96.50. The company’s 50-day simple moving average is $89.54 and its 200-day simple moving average is $90.09. The company has a quick ratio of 0.37, a current ratio of 0.52 and a debt-to-equity ratio of 1.25.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Monday, November 3rd. The utilities provider reported $3.39 EPS for the quarter, topping the consensus estimate 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%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm 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. As a group, equities research analysts anticipate that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

Pinnacle West Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 3rd will be issued a dividend of $0.91 per share. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.90. The ex-dividend date is Monday, November 3rd. This represents a $3.64 dividend on an annualized basis 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.