Pinnacle West Capital Corporation $PNW Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP boosted its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 101.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,456,941 shares of the utilities provider’s stock after purchasing an additional 733,069 shares during the quarter. Wellington Management Group LLP’s holdings in Pinnacle West Capital were worth $155,893,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Pinnacle West Capital in the 2nd quarter worth approximately $703,598,000. ATLAS Infrastructure Partners UK Ltd. boosted its holdings in Pinnacle West Capital by 44.3% during the fourth quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock worth $395,712,000 after buying an additional 1,369,350 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Pinnacle West Capital by 1.8% in the fourth quarter. Invesco Ltd. now owns 4,249,267 shares of the utilities provider’s stock valued at $376,910,000 after buying an additional 74,023 shares in the last quarter. Soroban Capital Partners LP lifted its position in shares of Pinnacle West Capital by 34.0% during 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 acquiring an additional 977,411 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Pinnacle West Capital by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 3,095,691 shares of the utilities provider’s stock valued at $274,117,000 after acquiring an additional 27,861 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Pinnacle West Capital

In related news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the 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 completion of the sale, the senior vice president directly owned 4,910 shares in the company, valued at approximately $500,869.10. This trade represents a 26.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Elizabeth A. Blankenship sold 980 shares of Pinnacle West Capital stock in a transaction on Monday, August 10th. The shares were sold at an average price of $99.17, for a total value of $97,186.60. Following the sale, the chief accounting officer directly owned 10,886 shares of the company’s stock, valued at approximately $1,079,564.62. The trade was a 8.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.19% of the company’s stock.

Pinnacle West Capital Price Performance

NYSE PNW opened at $97.66 on Tuesday. The company has a 50 day simple moving average of $103.63 and a 200-day simple moving average of $102.00. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41. The firm has a market capitalization of $11.84 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 3.57 and a beta of 0.44. 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 announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities research analysts predict that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business 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 dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital’s payout ratio is currently 69.73%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNW. Truist Financial decreased 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. Jefferies Financial Group reissued a “buy” rating and issued a $129.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. Morgan Stanley cut their price target on shares of Pinnacle West Capital from $97.00 to $94.00 and set an “equal weight” rating on the stock in a report on Friday, August 21st. TD Cowen reiterated a “hold” rating on shares of Pinnacle West Capital in a research report on Wednesday, August 12th. Finally, BMO Capital Markets cut their target price on shares of 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 research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $103.57.

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.