Pinnacle West Capital Corporation (NYSE:PNW) to Issue Quarterly Dividend of $0.93

Pinnacle West Capital Corporation (NYSE:PNW) declared a quarterly dividend on Wednesday, October 21st. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.9250 per share by the utilities provider on Tuesday, December 1st. This represents a $3.70 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 2nd. This is a 1.6% increase from Pinnacle West Capital’s previous quarterly dividend of $0.91.

Pinnacle West Capital has a dividend payout ratio of 71.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Pinnacle West Capital to earn $5.59 per share next year, which means the company should continue to be able to cover its $3.64 annual dividend with an expected future payout ratio of 65.1%.

Pinnacle West Capital Price Performance

NYSE:PNW traded up $1.69 during trading hours on Thursday, reaching $105.58. 142,614 shares of the company were exchanged, compared to its average volume of 1,229,584. The firm has a market cap of $12.80 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 3.69 and a beta of 0.43. Pinnacle West Capital has a twelve month low of $86.18 and a twelve month high of $111.16. The stock’s 50-day moving average is $97.43 and its 200-day moving average is $101.17. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.03). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, sell-side analysts anticipate that Pinnacle West Capital will post 4.80 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Luis Esparza, Jr. sold 1,800 shares of the stock in a transaction 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 completion of the sale, the senior vice president owned 4,910 shares in the company, valued at $500,869.10. This represents a 26.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Elizabeth Blankenship sold 980 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $99.17, for a total value of $97,186.60. Following the transaction, the chief accounting officer directly owned 10,886 shares in the company, valued at approximately $1,079,564.62. This represents a 8.26% decrease in their position. The SEC filing for this sale provides additional information. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pinnacle West Capital

A number of large investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund raised its position in Pinnacle West Capital by 0.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,755 shares of the utilities provider’s stock worth $1,386,000 after acquiring an additional 100 shares in the last quarter. Excelsior Advisor Network LLC grew its holdings in Pinnacle West Capital by 4.3% during the 1st 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. Everhart Financial Group Inc. increased its position in Pinnacle West Capital by 5.1% during the 2nd quarter. Everhart Financial Group Inc. now owns 2,481 shares of the utilities provider’s stock worth $265,000 after purchasing an additional 120 shares in the last quarter. JFS Wealth Advisors LLC raised its position in shares of Pinnacle West Capital by 109.6% in the second quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock valued at $26,000 after buying an additional 126 shares during the last quarter. Finally, Empirical Finance LLC raised its holdings in Pinnacle West Capital by 3.5% in the 2nd quarter. Empirical Finance LLC now owns 4,143 shares of the utilities provider’s stock valued at $443,000 after acquiring an additional 142 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation (NYSE:PNW) is an energy holding company based in Phoenix, Arizona. Its principal subsidiary, Arizona Public Service Company (APS), is an electric utility that generates, transmits and distributes electricity to customers across Arizona.

APS serves residential, commercial, industrial and governmental customers through a diverse power portfolio that includes nuclear, natural gas, coal, solar and other renewable energy resources. The utility is also involved in maintaining and expanding the electric grid, supporting energy-efficiency programs and developing cleaner energy resources.