Pinnacle West Capital Corporation $PNW Shares Bought by Amalgamated Bank

Amalgamated Bank boosted its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 5.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,492 shares of the utilities provider’s stock after buying an additional 1,192 shares during the period. Amalgamated Bank’s holdings in Pinnacle West Capital were worth $2,102,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNW. Clearstead Trust LLC acquired a new position in Pinnacle West Capital during the first quarter worth $25,000. Costello Asset Management INC acquired a new position in Pinnacle West Capital during the first quarter worth $26,000. Ameritas Advisory Services LLC acquired a new position in shares of Pinnacle West Capital in the 2nd quarter valued at $31,000. Brooklyn Investment Group lifted its stake in shares of Pinnacle West Capital by 440.0% in the 1st quarter. Brooklyn Investment Group now owns 486 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 396 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of Pinnacle West Capital by 3,500.0% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 612 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 595 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

PNW opened at $88.43 on Thursday. The stock’s 50-day moving average price is $89.49 and its 200 day moving average price is $90.61. Pinnacle West Capital Corporation has a 12-month low of $81.47 and a 12-month high of $96.50. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.25. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 9.23 and a beta of 0.50.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Monday, November 3rd. The utilities provider reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.35. Pinnacle West Capital had a return on equity of 8.45% and a net margin of 10.96%.The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the company earned $3.37 EPS. Pinnacle West Capital’s revenue was up 2.9% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. FY 2025 guidance at 4.900-5.100 EPS. As a group, sell-side analysts expect that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

Pinnacle West Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 3rd will be issued a dividend of $0.91 per share. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.90. The ex-dividend date is Monday, November 3rd. This represents a $3.64 annualized dividend and a yield of 4.1%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 74.74%.

Insiders Place Their Bets

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,496 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $92.37, for a total transaction of $600,035.52. Following the sale, the executive vice president owned 56 shares in the company, valued at $5,172.72. This represents a 99.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PNW. Argus decreased their price target on Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, September 30th. Royal Bank Of Canada raised Pinnacle West Capital to a “hold” rating in a research note on Tuesday, October 28th. Zacks Research lowered Pinnacle West Capital from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Wells Fargo & Company raised Pinnacle West Capital to a “hold” rating in a research note on Tuesday, October 28th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 price target on shares of Pinnacle West Capital in a research note on Tuesday. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $97.54.

About Pinnacle West Capital

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.