Sanctuary Advisors LLC Invests $577,000 in Pinnacle West Capital Corporation $PNW

Sanctuary Advisors LLC purchased a new position in Pinnacle West Capital Corporation (NYSE:PNW) during the second quarter, Holdings Channel reports. The firm purchased 5,395 shares of the utilities provider’s stock, valued at approximately $577,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Pinnacle West Capital during the second quarter worth about $703,598,000. Norges Bank bought a new position in Pinnacle West Capital in the 4th quarter valued at about $140,468,000. ATLAS Infrastructure Partners UK Ltd. raised its position in shares of 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 valued at $395,712,000 after buying an additional 1,369,350 shares in the last quarter. Soroban Capital Partners LP raised its position in shares of Pinnacle West Capital by 34.0% in the 1st quarter. Soroban Capital Partners LP now owns 3,854,815 shares of the utilities provider’s stock valued at $388,373,000 after buying an additional 977,411 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at approximately $68,008,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Elizabeth A. Blankenship sold 980 shares of the company’s stock in a transaction on Monday, August 10th. The shares were 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 in the company, valued at approximately $1,079,564.62. This represents a 8.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the stock in a transaction on Friday, August 7th. The shares were 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 of the company’s stock, valued at $500,869.10. The trade was a 26.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.19% of the company’s stock.

Pinnacle West Capital Stock Down 0.4%

PNW stock opened at $97.51 on Friday. The firm has a 50-day moving average price of $103.72 and a 200-day moving average price of $101.92. Pinnacle West Capital Corporation has a 12 month low of $85.32 and a 12 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 stock has a market capitalization of $11.82 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 3.57 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.03). The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.40 billion. Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, equities research analysts anticipate that Pinnacle West Capital Corporation will post 4.71 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $129.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. TD Cowen restated a “hold” rating on shares of Pinnacle West Capital in a research report on Wednesday, August 12th. Morgan Stanley cut their target price on Pinnacle West Capital from $97.00 to $94.00 and set an “equal weight” rating for the company in a research note on Friday, August 21st. Truist Financial reduced their target price on Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a report on Monday, August 17th. Finally, BMO Capital Markets decreased their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, Pinnacle West Capital currently has an average rating of “Hold” and an average target price of $103.57.

About Pinnacle West Capital

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.