Geode Capital Management LLC Purchases 27,861 Shares of Pinnacle West Capital Corporation $PNW

Geode Capital Management LLC increased its position in Pinnacle West Capital Corporation (NYSE:PNW) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,095,691 shares of the utilities provider’s stock after purchasing an additional 27,861 shares during the quarter. Geode Capital Management LLC’s holdings in Pinnacle West Capital were worth $274,117,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC acquired a new position in Pinnacle West Capital in the 4th quarter valued at about $417,000. NewEdge Advisors LLC grew its stake in Pinnacle West Capital by 999.1% in the 1st quarter. NewEdge Advisors LLC now owns 8,210 shares of the utilities provider’s stock valued at $782,000 after buying an additional 7,463 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Pinnacle West Capital by 109.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,255 shares of the utilities provider’s stock valued at $215,000 after buying an additional 1,180 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Pinnacle West Capital by 10.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 441,047 shares of the utilities provider’s stock valued at $42,010,000 after buying an additional 41,173 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in Pinnacle West Capital by 12.8% in the 1st quarter. Empowered Funds LLC now owns 4,600 shares of the utilities provider’s stock valued at $438,000 after buying an additional 523 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Trading Down 2.4%

Shares of Pinnacle West Capital stock opened at $97.39 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $11.80 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 3.65 and a beta of 0.44. The firm’s 50-day moving average price is $101.26 and its two-hundred day moving average price is $95.97. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $104.92.

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

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 4th were given a dividend of $0.91 per share. The ex-dividend date was Monday, May 4th. This represents a $3.64 annualized dividend and a dividend yield of 3.7%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 67.78%.

Wall Street Analyst Weigh In

PNW has been the topic of a number of research reports. Stifel Nicolaus set a $107.00 price target on shares of Pinnacle West Capital in a research note on Thursday, February 26th. Barclays upped their price target on shares of Pinnacle West Capital from $101.00 to $102.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Argus upped their price target on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Wall Street Zen upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Wells Fargo & Company set a $106.00 price target on shares of Pinnacle West Capital in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, Pinnacle West Capital has a consensus rating of “Hold” and a consensus price target of $102.50.

Insider Activity

In related news, EVP Jacob Tetlow sold 6,567 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the sale, the executive vice president owned 6,634 shares in the company, valued at approximately $656,766. This trade represents a 49.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

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.