Hsbc Holdings PLC Acquires 5,447 Shares of Pinnacle West Capital Corporation $PNW

Hsbc Holdings PLC raised its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 650,934 shares of the utilities provider’s stock after purchasing an additional 5,447 shares during the quarter. Hsbc Holdings PLC owned approximately 0.54% of Pinnacle West Capital worth $65,555,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PNW. CYBER HORNET ETFs LLC bought a new position in shares of Pinnacle West Capital in the second quarter worth approximately $27,000. MUFG Securities EMEA plc purchased a new stake in Pinnacle West Capital during the second quarter valued at $32,000. Clearstead Advisors LLC increased 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 purchasing an additional 185 shares during the last quarter. Dorato Capital Management purchased a new stake in Pinnacle West Capital during the fourth quarter valued at approximately $69,000. Finally, Brown Brothers Harriman & Co. raised its holdings in Pinnacle West Capital by 102.1% in the 3rd 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 period. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of Pinnacle West Capital stock opened at $107.74 on Monday. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.38. The firm has a market cap of $13.06 billion, a PE ratio of 20.06, a P/E/G ratio of 3.92 and a beta of 0.43. The business has a 50-day moving average price of $103.76 and a 200 day moving average price of $99.95. Pinnacle West Capital Corporation has a twelve month low of $85.32 and a twelve month high of $111.16.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.30. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Sell-side analysts predict that Pinnacle West Capital Corporation will post 4.73 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be paid a $0.91 dividend. The ex-dividend date is Monday, August 3rd. This represents a $3.64 annualized dividend and a dividend yield of 3.4%. Pinnacle West Capital’s payout ratio is 67.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Jefferies Financial Group restated a “buy” rating and issued a $129.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Truist Financial decreased their target price on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating on the stock in a research report on Friday, May 29th. Wall Street Zen upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Morgan Stanley set a $95.00 target price on Pinnacle West Capital in a research report on Wednesday, June 24th. Finally, Barclays upped their price target on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Pinnacle West Capital has an average rating of “Hold” and a consensus target price of $104.14.

Insider Buying and Selling

In related news, EVP Jacob Tetlow sold 6,567 shares of the firm’s 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 sale, the executive vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by insiders.

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.