Pinnacle West Capital Corporation $PNW Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC increased its position in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 54.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,513 shares of the utilities provider's stock after buying an additional 24,844 shares during the period. SG Americas Securities LLC owned about 0.06% of Pinnacle West Capital worth $6,309,000 at the end of the most recent reporting period.

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Several other hedge funds have also recently added to or reduced their stakes in the company. ATLAS Infrastructure Partners UK Ltd. grew its holdings in Pinnacle West Capital by 230.5% during the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,793,546 shares of the utilities provider's stock worth $266,085,000 after acquiring an additional 1,948,416 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Pinnacle West Capital in the 1st quarter valued at $99,364,000. Vanguard Group Inc. lifted its position in shares of Pinnacle West Capital by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 14,464,661 shares of the utilities provider's stock worth $1,377,759,000 after purchasing an additional 283,752 shares during the last quarter. Midwest Trust Co acquired a new position in shares of Pinnacle West Capital during the second quarter worth $17,851,000. Finally, AQR Capital Management LLC increased its holdings in Pinnacle West Capital by 56.4% in the first quarter. AQR Capital Management LLC now owns 414,529 shares of the utilities provider's stock valued at $39,484,000 after buying an additional 149,488 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PNW shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $115.00 price target on shares of Pinnacle West Capital in a report on Tuesday, November 4th. Zacks Research raised Pinnacle West Capital from a "strong sell" rating to a "hold" rating in a research report on Monday, November 10th. KeyCorp decreased their target price on Pinnacle West Capital from $100.00 to $97.00 and set an "overweight" rating for the company in a research note on Wednesday, October 15th. UBS Group increased their price target on shares of Pinnacle West Capital from $95.00 to $101.00 and gave the company a "neutral" rating in a research note on Friday, October 10th. Finally, Wells Fargo & Company raised shares of Pinnacle West Capital to a "hold" rating in a report on Tuesday, October 28th. Six research analysts have rated the stock with a Buy rating and ten have issued 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 $97.54.

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Get Our Latest Research Report on Pinnacle West Capital

Pinnacle West Capital Trading Up 0.8%

Shares of Pinnacle West Capital stock opened at $89.06 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.37 and a current ratio of 0.52. The company has a market capitalization of $10.66 billion, a P/E ratio of 18.36, a PEG ratio of 9.23 and a beta of 0.50. Pinnacle West Capital Corporation has a 1 year low of $81.47 and a 1 year high of $96.50. The company's fifty day moving average is $89.40 and its two-hundred day moving average is $90.24.

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Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its earnings results on Monday, November 3rd. The utilities provider reported $3.39 EPS for the quarter, beating analysts' consensus estimates of $3.04 by $0.35. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The business had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same period in the prior year, the company earned $3.37 earnings per share. The business's revenue was up 2.9% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. FY 2025 guidance at 4.900-5.100 EPS. Analysts forecast that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

Pinnacle West Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 3rd will be given a $0.91 dividend. This is a positive change from Pinnacle West Capital's previous quarterly dividend of $0.90. The ex-dividend date is Monday, November 3rd. This represents a $3.64 dividend on an annualized basis and a yield of 4.1%. Pinnacle West Capital's payout ratio is 74.74%.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.

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