Rhumbline Advisers Purchases 20,348 Shares of Pinnacle West Capital Corporation $PNW

Rhumbline Advisers raised its position in Pinnacle West Capital Corporation (NYSE:PNW) by 10.1% in the 2nd quarter, Holdings Channel reports. The firm owned 222,454 shares of the utilities provider’s stock after buying an additional 20,348 shares during the quarter. Rhumbline Advisers’ holdings in Pinnacle West Capital were worth $19,903,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PNW. Brighton Jones LLC purchased a new stake in shares of Pinnacle West Capital in the fourth quarter worth $417,000. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Pinnacle West Capital by 14.3% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 19,588 shares of the utilities provider’s stock worth $1,866,000 after acquiring an additional 2,444 shares during the last quarter. AE Wealth Management LLC raised its holdings in shares of Pinnacle West Capital by 4.9% in the 1st quarter. AE Wealth Management LLC now owns 2,929 shares of the utilities provider’s stock valued at $279,000 after acquiring an additional 137 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Pinnacle West Capital by 2.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 15,335 shares of the utilities provider’s stock valued at $1,461,000 after acquiring an additional 344 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Pinnacle West Capital by 4.1% during the 1st quarter. Cetera Investment Advisers now owns 30,444 shares of the utilities provider’s stock valued at $2,900,000 after acquiring an additional 1,196 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Trading Up 1.2%

Shares of PNW opened at $90.61 on Friday. Pinnacle West Capital Corporation has a fifty-two week low of $81.47 and a fifty-two week high of $96.50. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 9.23 and a beta of 0.50. The firm has a 50 day moving average price of $89.80 and a 200-day moving average price of $90.08. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.37 and a current ratio of 0.52.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Monday, November 3rd. The utilities provider reported $3.39 EPS for the quarter, beating the consensus estimate of $3.04 by $0.35. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.37 EPS. 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, equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 3rd will be paid a $0.91 dividend. This is a boost from Pinnacle West Capital’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.0%. Pinnacle West Capital’s dividend payout ratio is presently 74.74%.

Analyst Ratings Changes

Several research analysts recently weighed in on PNW shares. Weiss Ratings restated a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Wednesday, October 8th. Argus cut their price target on shares of Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, September 30th. Wells Fargo & Company upgraded shares of Pinnacle West Capital to a “hold” rating in a research report on Tuesday, October 28th. KeyCorp cut their target price on shares of Pinnacle West Capital from $100.00 to $97.00 and set an “overweight” rating for the company in a research report on Wednesday, October 15th. Finally, Morgan Stanley set a $91.00 target price on Pinnacle West Capital in a research note on Thursday, November 20th. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Hold” and an average target price of $97.38.

Pinnacle West Capital Profile

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.