Magellan Asset Management Ltd Purchases Shares of 127,654 Pinnacle West Capital Corporation $PNW

Magellan Asset Management Ltd acquired a new position in Pinnacle West Capital Corporation (NYSE:PNW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 127,654 shares of the utilities provider’s stock, valued at approximately $13,659,000.

A number of other hedge funds have also made changes to their positions in the business. JFS Wealth Advisors LLC lifted its holdings in shares of Pinnacle West Capital by 109.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 126 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in Pinnacle West Capital in the 2nd quarter valued at $27,000. MUFG Securities EMEA plc purchased a new position in Pinnacle West Capital in the second quarter valued at about $32,000. Compass Financial Management LLC purchased a new position in Pinnacle West Capital in the second quarter valued at about $33,000. Finally, Clearstead Advisors LLC lifted its position in Pinnacle West Capital by 88.5% during the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

PNW opened at $97.36 on Monday. The company has a market capitalization of $11.80 billion, a P/E ratio of 18.65, a PEG ratio of 3.56 and a beta of 0.44. The company has a 50-day moving average of $104.21 and a 200-day moving average of $101.84. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.41 and a current ratio of 0.59. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $111.16.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly 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 firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business posted $1.58 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities analysts expect that Pinnacle West Capital Corporation will post 4.71 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital’s payout ratio is 69.73%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PNW shares. Truist Financial dropped their price target on shares of Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a research note on Monday, August 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. Barclays boosted their price target on Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 1st. TD Cowen restated a “hold” rating on shares of Pinnacle West Capital in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group restated a “buy” rating and set a $129.00 price objective on shares of Pinnacle West Capital in a report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $103.57.

Insider Activity at Pinnacle West Capital

In related news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $102.01, for a total transaction of $183,618.00. Following the transaction, the senior vice president directly owned 4,910 shares in the company, valued at $500,869.10. This trade represents a 26.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Elizabeth A. Blankenship sold 980 shares of Pinnacle West Capital 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 transaction, the chief accounting officer directly owned 10,886 shares of the company’s stock, valued at approximately $1,079,564.62. This represents a 8.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.19% of the company’s stock.

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.