Pinnacle West Capital Corporation $PNW Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp increased its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 1,302.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,433 shares of the utilities provider’s stock after buying an additional 57,052 shares during the quarter. Fifth Third Bancorp’s holdings in Pinnacle West Capital were worth $6,189,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC acquired a new stake in shares of Pinnacle West Capital in the 2nd quarter worth $27,000. MUFG Securities EMEA plc acquired a new position in shares of Pinnacle West Capital during the 2nd quarter valued at about $32,000. Clearstead Advisors LLC boosted its position in shares of Pinnacle West Capital by 88.5% during the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 185 shares during the last quarter. Dorato Capital Management purchased a new stake in shares of Pinnacle West Capital in the fourth quarter valued at about $69,000. Finally, Brown Brothers Harriman & Co. increased its position in Pinnacle West Capital by 102.1% during the third quarter. Brown Brothers Harriman & Co. now owns 966 shares of the utilities provider’s stock worth $87,000 after purchasing an additional 488 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 that occurred on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total value of $650,133.00. Following the completion of the sale, the executive vice president owned 6,634 shares in the company, valued at approximately $656,766. This trade represents a 49.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley set a $95.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, June 24th. Argus increased their price target on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Wall Street Zen upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $129.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Finally, TD Cowen upped their price objective on Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a report on Friday, May 15th. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, Pinnacle West Capital currently has an average rating of “Hold” and a consensus price target of $104.14.

Pinnacle West Capital Stock Up 2.1%

Shares of PNW opened at $109.30 on Friday. The company’s 50-day moving average price is $103.59 and its 200 day moving average price is $99.81. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $110.40. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. The firm has a market cap of $13.25 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 3.90 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share 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 during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted ($0.04) earnings per share. Pinnacle West Capital’s revenue was up 11.4% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, sell-side analysts forecast that Pinnacle West Capital Corporation will post 4.73 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently disclosed 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 dividend yield of 3.3%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.78%.

About Pinnacle West Capital

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.