QRG Capital Management Inc. Reduces Position in Pinnacle West Capital Corporation $PNW

QRG Capital Management Inc. decreased its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 57.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,188 shares of the utilities provider’s stock after selling 19,126 shares during the quarter. QRG Capital Management Inc.’s holdings in Pinnacle West Capital were worth $1,272,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PNW. Gateway Investment Advisers LLC raised its holdings in shares of Pinnacle West Capital by 0.3% during the third quarter. Gateway Investment Advisers LLC now owns 44,998 shares of the utilities provider’s stock valued at $4,035,000 after purchasing an additional 114 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Pinnacle West Capital by 27.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 542 shares of the utilities provider’s stock valued at $49,000 after buying an additional 117 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Pinnacle West Capital by 1.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 9,846 shares of the utilities provider’s stock valued at $881,000 after buying an additional 122 shares during the period. Mesirow Financial Investment Management Inc. boosted its stake in shares of Pinnacle West Capital by 0.9% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 13,516 shares of the utilities provider’s stock worth $1,209,000 after buying an additional 122 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Pinnacle West Capital by 11.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the utilities provider’s stock worth $119,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

NYSE PNW opened at $93.00 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 1.28. Pinnacle West Capital Corporation has a 12 month low of $84.28 and a 12 month high of $96.50. The stock has a market cap of $11.13 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 9.48 and a beta of 0.55. The company’s 50 day moving average is $89.10 and its two-hundred day moving average is $89.83.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Monday, November 3rd. The utilities provider reported $3.39 EPS for the quarter, beating the consensus estimate of $3.04 by $0.35. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.78 billion. Pinnacle West Capital had a net margin of 11.20% and a return on equity of 8.57%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $3.37 EPS. 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, research analysts anticipate that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 2nd will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, February 2nd. Pinnacle West Capital’s dividend payout ratio (DPR) is 74.74%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Morgan Stanley set a $85.00 target price on Pinnacle West Capital in a report on Tuesday, December 16th. Wells Fargo & Company lowered their price objective on shares of Pinnacle West Capital from $92.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Wednesday, October 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $99.00 target price on shares of Pinnacle West Capital in a report on Monday, October 20th. Finally, TD Cowen started coverage on shares of Pinnacle West Capital in a research note on Thursday, October 16th. They set a “hold” rating and a $97.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $96.08.

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.