Cynosure Group LLC Makes New Investment in Pinnacle West Capital Corporation $PNW

Cynosure Group LLC purchased a new stake in Pinnacle West Capital Corporation (NYSE:PNW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,144 shares of the utilities provider’s stock, valued at approximately $657,000.

A number of other hedge funds also recently made changes to their positions in the business. ATLAS Infrastructure Partners UK Ltd. grew its holdings in Pinnacle West Capital by 44.3% in the 4th quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock worth $395,712,000 after buying an additional 1,369,350 shares in the last quarter. Invesco Ltd. raised its stake in Pinnacle West Capital by 1.8% during the 4th quarter. Invesco Ltd. now owns 4,249,267 shares of the utilities provider’s stock valued at $376,910,000 after acquiring an additional 74,023 shares in the last quarter. Soroban Capital Partners LP boosted its position in Pinnacle West Capital by 34.0% during the 1st quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider’s stock worth $388,373,000 after acquiring an additional 977,411 shares during the period. Geode Capital Management LLC grew its stake in shares of Pinnacle West Capital by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,095,691 shares of the utilities provider’s stock worth $274,117,000 after purchasing an additional 27,861 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Pinnacle West Capital by 0.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,853,685 shares of the utilities provider’s stock valued at $305,344,000 after purchasing an additional 9,298 shares during the period. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

NYSE:PNW opened at $101.39 on Friday. Pinnacle West Capital Corporation has a twelve month low of $85.32 and a twelve 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 company has a 50-day moving average of $104.54 and a 200-day moving average of $101.57. The firm has a market cap of $12.29 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 3.71 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW) last released 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). Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Analysts forecast that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio is 69.73%.

Analyst Upgrades and Downgrades

PNW has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a $129.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. Morgan Stanley set a $97.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, July 22nd. Wall Street Zen downgraded shares of Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Truist Financial reduced their price target on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating for the company in a research note on Friday, May 29th. Finally, Wells Fargo & Company set a $106.00 price objective on shares of Pinnacle West Capital in a report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $104.07.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Blankenship sold 980 shares of the firm’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 directly owned 10,886 shares of the company’s stock, valued at $1,079,564.62. This trade represents a 8.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital stock in a transaction on Friday, August 7th. The stock was 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 owned 4,910 shares in the company, valued at $500,869.10. The trade was a 26.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.19% of the stock is currently owned by corporate insiders.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company’s regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.

The company’s diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.