QRG Capital Management Inc. Has $572,000 Holdings in Pinnacle West Capital Corporation $PNW

QRG Capital Management Inc. lessened its position in Pinnacle West Capital Corporation (NYSE:PNW) by 56.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,681 shares of the utilities provider’s stock after selling 7,401 shares during the quarter. QRG Capital Management Inc.’s holdings in Pinnacle West Capital were worth $572,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in Pinnacle West Capital in the 4th quarter valued at approximately $417,000. NewEdge Advisors LLC raised its stake in shares of Pinnacle West Capital by 999.1% during the 1st quarter. NewEdge Advisors LLC now owns 8,210 shares of the utilities provider’s stock worth $782,000 after purchasing an additional 7,463 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of 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 in the last quarter. Goldman Sachs Group Inc. raised its position in Pinnacle West Capital by 10.3% during the first quarter. Goldman Sachs Group Inc. now owns 441,047 shares of the utilities provider’s stock valued at $42,010,000 after acquiring an additional 41,173 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Pinnacle West Capital by 12.8% in the first quarter. Empowered Funds LLC now owns 4,600 shares of the utilities provider’s stock valued at $438,000 after acquiring an additional 523 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Jacob Tetlow sold 6,567 shares of Pinnacle West Capital stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the sale, the executive vice president directly owned 6,634 shares of the company’s stock, valued at $656,766. This trade represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PNW shares. Wall Street Zen raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Morgan Stanley set a $95.00 price objective on Pinnacle West Capital in a report on Wednesday, June 24th. Wells Fargo & Company set a $106.00 price objective on Pinnacle West Capital in a research note on Tuesday, April 21st. Jefferies Financial Group restated a “buy” rating and issued a $129.00 target price on shares of Pinnacle West Capital in a report on Wednesday. Finally, TD Cowen upped their target price on Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a research report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Hold” and an average price target of $104.14.

Pinnacle West Capital Price Performance

NYSE:PNW opened at $106.83 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. Pinnacle West Capital Corporation has a one year low of $85.32 and a one year high of $110.40. The company has a fifty day moving average price of $102.87 and a 200 day moving average price of $99.10. The stock has a market cap of $12.95 billion, a P/E ratio of 19.89, a PEG ratio of 3.94 and a beta of 0.43.

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. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the business posted ($0.04) EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Analysts anticipate that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.64 dividend on an annualized basis and a yield of 3.4%. Pinnacle West Capital’s dividend payout ratio (DPR) is 67.78%.

Pinnacle West Capital 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.