First Trust Advisors LP Decreases Position in Pinnacle West Capital Corporation $PNW

First Trust Advisors LP cut its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 28.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 982,564 shares of the utilities provider’s stock after selling 388,586 shares during the quarter. First Trust Advisors LP owned 0.81% of Pinnacle West Capital worth $98,993,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its holdings in shares of 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 valued at $1,386,000 after purchasing an additional 100 shares in the last quarter. Empowered Funds LLC increased its holdings in Pinnacle West Capital by 3.8% in the 4th quarter. Empowered Funds LLC now owns 3,166 shares of the utilities provider’s stock worth $281,000 after buying an additional 116 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in Pinnacle West Capital by 2.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 4,711 shares of the utilities provider’s stock worth $418,000 after buying an additional 131 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in 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 acquiring an additional 140 shares during the period. Finally, Truist Financial Corp lifted its stake in Pinnacle West Capital by 4.7% during the 4th quarter. Truist Financial Corp now owns 3,733 shares of the utilities provider’s stock valued at $331,000 after acquiring an additional 167 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $106.22 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.38. The business has a 50-day simple moving average of $104.42 and a two-hundred day simple moving average of $100.47. The stock has a market cap of $12.87 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 3.83 and a beta of 0.43. Pinnacle West Capital Corporation has a 52 week low of $85.32 and a 52 week high of $111.16.

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

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio is presently 67.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $129.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. Weiss Ratings upgraded shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Wells Fargo & Company set a $106.00 target price on shares of Pinnacle West Capital in a report on Tuesday, April 21st. TD Cowen lifted their target price on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a research report on Friday, May 15th. Finally, Wall Street Zen upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Three equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pinnacle West Capital presently has an average rating of “Hold” and an average target price of $104.07.

Insider Buying and Selling at Pinnacle West Capital

In other news, EVP Jacob Tetlow sold 6,567 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the sale, the executive vice president directly owned 6,634 shares in the company, valued at $656,766. This trade represents a 49.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by 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.