The Manufacturers Life Insurance Company Acquires New Stake in Pinnacle West Capital Corporation $PNW

The Manufacturers Life Insurance Company bought a new position in Pinnacle West Capital Corporation (NYSE:PNW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 248,651 shares of the utilities provider’s stock, valued at approximately $26,606,000. The Manufacturers Life Insurance Company owned about 0.21% of Pinnacle West Capital as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its holdings in Pinnacle West Capital by 109.6% during 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. CYBER HORNET ETFs LLC purchased a new position in shares of Pinnacle West Capital during the 2nd quarter worth $27,000. Compass Financial Management LLC purchased a new position in shares of Pinnacle West Capital during the 2nd quarter worth $33,000. Bell Investment Advisors Inc grew its position in shares of Pinnacle West Capital by 144.9% during the 2nd quarter. Bell Investment Advisors Inc now owns 338 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 200 shares during the period. Finally, MUFG Securities EMEA plc bought a new stake in shares of Pinnacle West Capital during the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Buying and Selling at Pinnacle West Capital

In other Pinnacle West Capital news, CAO Elizabeth A. Blankenship sold 980 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $99.17, for a total transaction of $97,186.60. Following the completion of the transaction, the chief accounting officer owned 10,886 shares of the company’s stock, valued at $1,079,564.62. This represents a 8.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $102.01, for a total value of $183,618.00. Following the transaction, the senior vice president directly owned 4,910 shares of the company’s stock, valued at approximately $500,869.10. The trade was a 26.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PNW has been the topic of a number of recent research reports. Barclays raised their target price on Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 1st. Morgan Stanley cut their price target on Pinnacle West Capital from $97.00 to $94.00 and set an “equal weight” rating for the company in a report on Friday, August 21st. Truist Financial decreased their price objective on Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a research note on Monday, August 17th. BMO Capital Markets cut their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Pinnacle West Capital in a report on Monday, August 3rd. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $103.57.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $97.76 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.59 and a debt-to-equity ratio of 1.38. Pinnacle West Capital Corporation has a twelve month low of $85.32 and a twelve month high of $111.16. The business has a 50-day moving average price of $103.82 and a 200-day moving average price of $101.95. The firm has a market cap of $11.85 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 3.61 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the firm posted $1.58 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, equities research analysts predict that Pinnacle West Capital Corporation will post 4.71 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital’s payout ratio is currently 69.73%.

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.