Linden Advisors LP Invests $1.21 Million in Pinnacle West Capital Corporation $PNW

Linden Advisors LP acquired a new stake in Pinnacle West Capital Corporation (NYSE:PNW) in the second quarter, HoldingsChannel reports. The firm acquired 13,500 shares of the utilities provider’s stock, valued at approximately $1,208,000.

Several other large investors have also recently modified their holdings of PNW. LMR Partners LLP grew its stake in shares of Pinnacle West Capital by 45.6% in the second quarter. LMR Partners LLP now owns 12,367 shares of the utilities provider’s stock worth $1,106,000 after purchasing an additional 3,875 shares during the last quarter. HRT Financial LP grew its position in shares of Pinnacle West Capital by 329.0% in the 2nd quarter. HRT Financial LP now owns 76,841 shares of the utilities provider’s stock valued at $6,874,000 after buying an additional 58,929 shares during the last quarter. Engineers Gate Manager LP increased its stake in shares of Pinnacle West Capital by 10.8% in the second quarter. Engineers Gate Manager LP now owns 69,860 shares of the utilities provider’s stock valued at $6,250,000 after buying an additional 6,832 shares during the period. Cubist Systematic Strategies LLC raised its holdings in Pinnacle West Capital by 104.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 250,858 shares of the utilities provider’s stock worth $22,444,000 after purchasing an additional 127,863 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new position in Pinnacle West Capital during the 2nd quarter worth approximately $362,000. Institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PNW. Morgan Stanley set a $91.00 price objective on shares of Pinnacle West Capital in a research note on Thursday, November 20th. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 price objective on shares of Pinnacle West Capital in a research note on Tuesday, November 4th. Barclays upped their target price on Pinnacle West Capital from $93.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. UBS Group boosted their price target on Pinnacle West Capital from $95.00 to $101.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Finally, Mizuho downgraded shares of Pinnacle West Capital from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $102.00 to $90.00 in a research report on Tuesday, September 9th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Pinnacle West Capital has a consensus rating of “Hold” and an average price target of $97.58.

Pinnacle West Capital Stock Up 1.2%

PNW stock opened at $87.76 on Friday. The stock’s 50 day simple moving average is $89.92 and its 200 day simple moving average is $89.88. The company has a market cap of $10.50 billion, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 8.61 and a beta of 0.54. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.49 and a current ratio of 0.67. Pinnacle West Capital Corporation has a fifty-two week low of $81.47 and a fifty-two week high of $96.50.

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 analysts’ consensus estimates of $3.04 by $0.35. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Pinnacle West Capital had a return on equity of 8.57% and a net margin of 11.20%.The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.37 earnings per share. 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. On average, research analysts expect that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 2nd will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Monday, February 2nd. Pinnacle West Capital’s payout ratio is 74.74%.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.