Pinnacle West Capital Corporation $PNW Shares Purchased by Tema Etfs LLC

Tema Etfs LLC boosted its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 34.9% in the second quarter, HoldingsChannel.com reports. The fund owned 38,709 shares of the utilities provider’s stock after buying an additional 10,007 shares during the quarter. Tema Etfs LLC’s holdings in Pinnacle West Capital were worth $3,463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. ATLAS Infrastructure Partners UK Ltd. increased its stake in shares of Pinnacle West Capital by 230.5% during the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,793,546 shares of the utilities provider’s stock worth $266,085,000 after purchasing an additional 1,948,416 shares in the last quarter. Norges Bank purchased a new stake in Pinnacle West Capital in the 2nd quarter valued at approximately $114,384,000. Nuveen LLC acquired a new stake in Pinnacle West Capital during the 1st quarter valued at $99,364,000. Vanguard Group Inc. increased its position in Pinnacle West Capital by 2.2% during the second quarter. Vanguard Group Inc. now owns 14,781,290 shares of the utilities provider’s stock worth $1,322,482,000 after buying an additional 316,629 shares in the last quarter. Finally, Midwest Trust Co purchased a new position in Pinnacle West Capital during the second quarter worth $17,851,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Down 0.6%

NYSE PNW opened at $88.08 on Friday. Pinnacle West Capital Corporation has a 12 month low of $81.47 and a 12 month high of $96.50. The company has a 50-day moving average of $90.05 and a 200-day moving average of $90.05. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.67 and a quick ratio of 0.49. The company has a market cap of $10.54 billion, a P/E ratio of 18.09, a P/E/G ratio of 8.79 and a beta of 0.54.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Monday, November 3rd. The utilities provider reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.35. Pinnacle West Capital had a net margin of 11.20% and a return on equity of 8.57%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the company earned $3.37 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS and its FY 2025 guidance at 4.900-5.100 EPS. As a group, equities analysts predict 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 announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 3rd were given a $0.91 dividend. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $3.64 annualized dividend and a dividend yield of 4.1%. Pinnacle West Capital’s dividend payout ratio is 74.74%.

Wall Street Analyst Weigh In

PNW has been the topic of several recent research reports. TD Cowen began coverage on Pinnacle West Capital in a research report on Thursday, October 16th. They issued a “hold” rating and a $97.00 price objective on the stock. 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. UBS Group lifted their price target on shares of Pinnacle West Capital from $95.00 to $101.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Argus reduced their price objective on shares of Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, September 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $97.58.

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.