Pinnacle West Capital Corporation $PNW Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 10.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 602,839 shares of the utilities provider’s stock after selling 71,214 shares during the period. Legal & General Group Plc’s holdings in Pinnacle West Capital were worth $53,472,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Stratos Wealth Partners LTD. raised its holdings in Pinnacle West Capital by 2.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 4,711 shares of the utilities provider’s stock valued at $418,000 after acquiring an additional 131 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Pinnacle West Capital by 11.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the utilities provider’s stock valued at $119,000 after acquiring an additional 140 shares during the last quarter. Resona Asset Management Co. Ltd. raised its holdings in Pinnacle West Capital by 12.3% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 1,408 shares of the utilities provider’s stock valued at $123,000 after acquiring an additional 154 shares during the last quarter. Savant Capital LLC raised its holdings in Pinnacle West Capital by 2.9% in the 3rd quarter. Savant Capital LLC now owns 5,549 shares of the utilities provider’s stock valued at $497,000 after acquiring an additional 154 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in Pinnacle West Capital by 4.7% in the 4th quarter. Truist Financial Corp now owns 3,733 shares of the utilities provider’s stock valued at $331,000 after acquiring an additional 167 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

Pinnacle West Capital stock opened at $99.84 on Friday. The firm has a 50 day simple moving average of $101.31 and a 200-day simple moving average of $95.85. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $104.92. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 3.69 and a beta of 0.46.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, beating 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 business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company posted ($0.04) EPS. The business’s revenue for the quarter 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. On average, analysts expect that Pinnacle West Capital Corporation will post 4.7 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 4th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $3.64 annualized dividend and a dividend yield of 3.6%. Pinnacle West Capital’s dividend payout ratio is 67.78%.

Analyst Ratings Changes

PNW has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Morgan Stanley set a $92.00 price objective on shares of Pinnacle West Capital in a report on Thursday, May 21st. Barclays increased their price objective on shares of Pinnacle West Capital from $101.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Truist Financial cut 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. Finally, Stifel Nicolaus set a $107.00 price target on shares of Pinnacle West Capital in a research note on Thursday, February 26th. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $102.50.

Insider Buying and Selling at Pinnacle West Capital

In other news, EVP Jacob Tetlow sold 6,567 shares of the 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 of the company’s stock, valued at $656,766. This represents a 49.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

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.