Capital Research Global Investors Sells 2,386,457 Shares of Pinnacle West Capital Corporation $PNW

Capital Research Global Investors lowered its position in Pinnacle West Capital Corporation (NYSE:PNW) by 15.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,466,845 shares of the utilities provider’s stock after selling 2,386,457 shares during the quarter. Capital Research Global Investors owned about 11.25% of Pinnacle West Capital worth $1,194,509,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PNW. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Pinnacle West Capital by 8.5% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock valued at $647,679,000 after acquiring an additional 568,581 shares during the last quarter. Geode Capital Management LLC increased its stake in Pinnacle West Capital by 0.9% in the fourth 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. Reaves W H & Co. Inc. increased its stake in Pinnacle West Capital by 21.3% in the third quarter. Reaves W H & Co. Inc. now owns 1,804,114 shares of the utilities provider’s stock valued at $161,757,000 after acquiring an additional 316,193 shares during the last quarter. Norges Bank bought a new position in Pinnacle West Capital in the fourth quarter valued at $140,468,000. Finally, First Trust Advisors LP increased its stake in Pinnacle West Capital by 6.3% in the third quarter. First Trust Advisors LP now owns 1,307,421 shares of the utilities provider’s stock valued at $117,223,000 after acquiring an additional 76,930 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Insider Activity

In other news, EVP Jacob Tetlow sold 6,567 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the transaction, the executive vice president directly owned 6,634 shares of the company’s stock, valued at approximately $656,766. This trade represents a 49.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on PNW shares. Stifel Nicolaus set a $107.00 target price on Pinnacle West Capital in a research note on Thursday, February 26th. Wall Street Zen raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wells Fargo & Company set a $106.00 target price on Pinnacle West Capital in a research note on Tuesday, April 21st. Argus increased their target price on Pinnacle West Capital from $95.00 to $106.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Finally, Truist Financial reduced their target price on Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating on the stock in a research note on Friday, May 29th. 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $102.50.

Pinnacle West Capital Stock Up 2.7%

Shares of NYSE:PNW opened at $103.16 on Friday. The stock’s 50-day moving average price is $101.49 and its 200-day moving average price is $96.25. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $104.92. The stock has a market capitalization of $12.50 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 3.77 and a beta of 0.44. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.30. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the firm earned ($0.04) earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, equities analysts anticipate that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 4th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, May 4th. Pinnacle West Capital’s dividend payout ratio (DPR) is 67.78%.

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.