TD Asset Management Inc Has $8.78 Million Stake in Pinnacle West Capital Corporation $PNW

TD Asset Management Inc raised its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 7.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,006 shares of the utilities provider’s stock after acquiring an additional 5,540 shares during the period. TD Asset Management Inc’s holdings in Pinnacle West Capital were worth $8,775,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PNW. Brighton Jones LLC bought a new position in shares of Pinnacle West Capital during the fourth quarter valued at $417,000. NewEdge Advisors LLC increased its position 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 increased its position in shares of Pinnacle West Capital by 109.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,255 shares of the utilities provider’s stock worth $215,000 after purchasing an additional 1,180 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Pinnacle West Capital by 10.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 441,047 shares of the utilities provider’s stock worth $42,010,000 after purchasing an additional 41,173 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in Pinnacle West Capital by 12.8% during the 1st quarter. Empowered Funds LLC now owns 4,600 shares of the utilities provider’s stock valued at $438,000 after purchasing an additional 523 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Performance

Shares of NYSE:PNW opened at $101.39 on Friday. The stock has a market capitalization of $12.29 billion, a P/E ratio of 19.42, a P/E/G ratio of 3.69 and a beta of 0.44. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $111.16. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38. The business has a 50-day moving average price of $104.54 and a two-hundred day moving average price of $101.57.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.40 billion. Pinnacle West Capital had a net margin of 11.52% and a return on equity of 8.99%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities analysts predict that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio is currently 69.73%.

Insider Activity at Pinnacle West Capital

In related news, 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 in the company, valued at $500,869.10. This represents a 26.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Elizabeth A. Blankenship sold 980 shares of the firm’s stock in a transaction that occurred on 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 directly owned 10,886 shares in the company, valued at approximately $1,079,564.62. The trade was a 8.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PNW shares. Morgan Stanley set a $97.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, July 22nd. Truist Financial dropped their price objective on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating for the company in a report on Friday, May 29th. Barclays boosted 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. BMO Capital Markets decreased their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Finally, TD Cowen reaffirmed a “hold” rating on shares of Pinnacle West Capital in a report on Wednesday. Three equities 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, Pinnacle West Capital has an average rating of “Hold” and an average price target of $104.07.

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.