Hsbc Holdings PLC Purchases New Holdings in Pinnacle West Capital Corporation $PNW

Hsbc Holdings PLC acquired a new position in Pinnacle West Capital Corporation (NYSE:PNW) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 606,558 shares of the utilities provider’s stock, valued at approximately $64,952,000.

Several other institutional investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its position 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 buying an additional 100 shares during the period. Excelsior Advisor Network LLC grew its stake in shares of Pinnacle West Capital by 4.3% during the first quarter. Excelsior Advisor Network LLC now owns 2,625 shares of the utilities provider’s stock valued at $264,000 after buying an additional 108 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Pinnacle West Capital by 3.8% in the fourth quarter. Empowered Funds LLC now owns 3,166 shares of the utilities provider’s stock worth $281,000 after buying an additional 116 shares during the period. Everhart Financial Group Inc. raised its holdings in shares of Pinnacle West Capital by 5.1% in the second quarter. Everhart Financial Group Inc. now owns 2,481 shares of the utilities provider’s stock worth $265,000 after buying an additional 120 shares during the period. Finally, JFS Wealth Advisors LLC lifted its stake 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 during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analysts Set New Price Targets

PNW has been the subject of a number of recent analyst reports. Wall Street Zen cut Pinnacle West Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. BMO Capital Markets reduced their target price on 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. Jefferies Financial Group reiterated a “buy” rating and set a $129.00 target price on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. TD Cowen reissued a “hold” rating on shares of Pinnacle West Capital in a research note on Wednesday, August 12th. Finally, Truist Financial cut their price target on shares of Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a report on Monday, August 17th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Pinnacle West Capital currently has an average rating of “Hold” and a consensus price target of $103.57.

Pinnacle West Capital Stock Up 1.0%

Shares of NYSE PNW opened at $98.68 on Thursday. Pinnacle West Capital Corporation has a 52-week low of $85.32 and a 52-week high of $111.16. The firm has a market capitalization of $11.96 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 3.57 and a beta of 0.44. The stock has a 50 day moving average price of $103.91 and a 200 day moving average price of $101.92. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.41 and a current ratio of 0.59.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The business’s 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. Sell-side analysts expect that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

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

Insider Activity at Pinnacle West Capital

In other news, CAO Elizabeth A. Blankenship sold 980 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 10,886 shares of the company’s stock, valued at approximately $1,079,564.62. This represents a 8.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $102.01, for a total transaction of $183,618.00. Following the transaction, the senior vice president owned 4,910 shares in the company, valued at approximately $500,869.10. This represents a 26.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is currently owned by corporate insiders.

About Pinnacle West Capital

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.