Jefferies Financial Group Inc. Takes Position in Pinnacle West Capital Corporation $PNW

Jefferies Financial Group Inc. bought a new position in Pinnacle West Capital Corporation (NYSE:PNW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,003 shares of the utilities provider’s stock, valued at approximately $1,926,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNW. JFS Wealth Advisors LLC raised its holdings in shares of Pinnacle West Capital by 109.6% during the 2nd quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 126 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Pinnacle West Capital during the second quarter valued at $27,000. MUFG Securities EMEA plc bought a new position in Pinnacle West Capital during the second quarter valued at $32,000. Compass Financial Management LLC bought a new position in Pinnacle West Capital during the second quarter valued at $33,000. Finally, Clearstead Advisors LLC grew its stake in shares of Pinnacle West Capital by 88.5% in the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock worth $35,000 after buying an additional 185 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Down 0.4%

Shares of NYSE PNW opened at $97.51 on Friday. Pinnacle West Capital Corporation has a 1 year low of $85.32 and a 1 year high of $111.16. The firm has a 50-day simple moving average of $103.72 and a two-hundred day simple moving average of $101.92. The company has a market cap of $11.82 billion, a P/E ratio of 18.68, a PEG ratio of 3.57 and a beta of 0.44. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.59 and a quick ratio of 0.41.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company posted $1.58 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts anticipate that Pinnacle West Capital Corporation will post 4.71 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 Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be paid a $0.91 dividend. The ex-dividend date is Monday, August 3rd. This represents a $3.64 dividend on an annualized basis and a yield of 3.7%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 69.73%.

Analysts Set New Price Targets

A number of brokerages recently commented on PNW. Jefferies Financial Group reaffirmed a “buy” rating and issued a $129.00 price target on shares of Pinnacle West Capital in a report on Wednesday, July 8th. Barclays upped their price objective on Pinnacle West Capital from $102.00 to $108.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 1st. Morgan Stanley cut their target price on Pinnacle West Capital from $97.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday, August 21st. Wall Street Zen lowered Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, BMO Capital Markets lowered their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Hold” and an average target price of $103.57.

Insiders Place Their Bets

In other news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Elizabeth A. Blankenship sold 980 shares of the business’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 sale, the chief accounting officer directly owned 10,886 shares of the company’s stock, valued at $1,079,564.62. This represents a 8.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.19% of the company’s stock.

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.