Soroban Capital Partners LP Acquires 977,411 Shares of Pinnacle West Capital Corporation $PNW

Soroban Capital Partners LP boosted its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 34.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,854,815 shares of the utilities provider’s stock after acquiring an additional 977,411 shares during the quarter. Pinnacle West Capital makes up approximately 0.7% of Soroban Capital Partners LP’s holdings, making the stock its 13th biggest holding. Soroban Capital Partners LP’s holdings in Pinnacle West Capital were worth $388,373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its stake in Pinnacle West Capital by 0.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,755 shares of the utilities provider’s stock worth $1,386,000 after acquiring an additional 100 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Pinnacle West Capital by 3.8% in the 4th quarter. Empowered Funds LLC now owns 3,166 shares of the utilities provider’s stock valued at $281,000 after purchasing an additional 116 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Pinnacle West Capital by 2.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 4,711 shares of the utilities provider’s stock valued at $418,000 after purchasing an additional 131 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Pinnacle West Capital by 11.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the utilities provider’s stock valued at $119,000 after purchasing an additional 140 shares during the last quarter. Finally, Compound Planning Inc. increased its position in Pinnacle West Capital by 4.2% during the 1st quarter. Compound Planning Inc. now owns 4,070 shares of the utilities provider’s stock worth $410,000 after purchasing an additional 165 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

PNW has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Weiss Ratings upgraded shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Barclays increased their price target on Pinnacle West Capital from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 1st. BMO Capital Markets cut their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Finally, Morgan Stanley set a $97.00 price objective on Pinnacle West Capital in a research report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $104.07.

Pinnacle West Capital Trading Down 0.5%

PNW opened at $105.57 on Tuesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. Pinnacle West Capital Corporation has a fifty-two week low of $85.32 and a fifty-two week high of $111.16. The company’s 50 day moving average price is $104.53 and its two-hundred day moving average price is $100.68. The firm has a market capitalization of $12.79 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 3.86 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.30. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.08 billion. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.04) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, research analysts predict that Pinnacle West Capital Corporation will post 4.74 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 67.78%.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of Pinnacle West Capital stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the transaction, the executive vice president directly owned 6,634 shares of the company’s stock, valued at approximately $656,766. The trade was a 49.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

Pinnacle West Capital 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.