Public Employees Retirement System of Ohio Purchases New Stake in Pinnacle West Capital Corporation $PNW

Public Employees Retirement System of Ohio acquired a new position in shares of Pinnacle West Capital Corporation (NYSE:PNW) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 37,495 shares of the utilities provider’s stock, valued at approximately $4,012,000.

Other large investors have also recently made changes to their positions in the company. JFS Wealth Advisors LLC grew its holdings in shares of 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 acquired a new stake in shares of Pinnacle West Capital in the 2nd quarter worth about $27,000. Compass Financial Management LLC acquired a new stake in shares of Pinnacle West Capital in the 2nd quarter worth about $33,000. Bell Investment Advisors Inc lifted its position in Pinnacle West Capital by 144.9% in 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 in the last quarter. Finally, MUFG Securities EMEA plc bought a new position in Pinnacle West Capital in the 2nd quarter valued at about $32,000. 91.51% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Elizabeth Blankenship sold 980 shares of the firm’s 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 sale, the chief accounting officer owned 10,886 shares in the company, valued at approximately $1,079,564.62. This trade represents a 8.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Luis Esparza, Jr. sold 1,800 shares of Pinnacle West Capital stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $102.01, for a total transaction of $183,618.00. Following the completion of the sale, the senior vice president directly owned 4,910 shares in the company, valued at approximately $500,869.10. This represents a 26.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the company. Morgan Stanley decreased their price objective 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. Wall Street Zen cut Pinnacle West Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Jefferies Financial Group reiterated a “buy” rating and set a $129.00 price target on shares of Pinnacle West Capital in a report on Wednesday, July 8th. TD Cowen reissued a “hold” rating on shares of Pinnacle West Capital in a research report on Wednesday, August 12th. Finally, Truist Financial cut their price objective on shares of Pinnacle West Capital from $107.00 to $101.00 and set a “hold” rating on the stock in a report on Monday, August 17th. Three research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $103.57.

Pinnacle West Capital Stock Performance

PNW stock opened at $97.82 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. The firm has a market cap of $11.86 billion, a PE ratio of 18.74, a P/E/G ratio of 3.56 and a beta of 0.45. The business has a 50 day moving average of $103.15 and a 200-day moving average of $102.00. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $111.16.

Pinnacle West Capital (NYSE:PNW) last issued 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). The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, sell-side analysts expect that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 3rd were given a dividend of $0.91 per share. The ex-dividend date was Monday, August 3rd. This represents a $3.64 annualized dividend and a yield of 3.7%. Pinnacle West Capital’s dividend payout ratio is presently 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.