Prudential Financial Inc. Increases Stake in Pinnacle West Capital Corporation $PNW

Prudential Financial Inc. boosted its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 8.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,128 shares of the utilities provider's stock after buying an additional 5,395 shares during the quarter. Prudential Financial Inc. owned 0.06% of Pinnacle West Capital worth $6,095,000 as of its most recent SEC filing.

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Other institutional investors have also modified their holdings of the company. Clearstead Trust LLC acquired a new stake in shares of Pinnacle West Capital in the first quarter valued at $25,000. Costello Asset Management INC purchased a new stake in Pinnacle West Capital during the 1st quarter worth about $26,000. Ameritas Advisory Services LLC purchased a new stake in Pinnacle West Capital during the 2nd quarter worth about $31,000. Brooklyn Investment Group raised its position in Pinnacle West Capital by 440.0% in the 1st quarter. Brooklyn Investment Group now owns 486 shares of the utilities provider's stock valued at $46,000 after purchasing an additional 396 shares in the last quarter. Finally, CNB Bank purchased a new position in shares of Pinnacle West Capital in the 2nd quarter valued at about $64,000. Institutional investors and hedge funds own 91.51% of the company's stock.

Analyst Ratings Changes

PNW has been the topic of a number of recent research reports. Wells Fargo & Company upgraded shares of Pinnacle West Capital to a "hold" rating in a research note on Tuesday, October 28th. Mizuho downgraded shares of Pinnacle West Capital from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $102.00 to $90.00 in a research report on Tuesday, September 9th. Barclays lifted their price objective on shares of Pinnacle West Capital from $93.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 7th. Royal Bank Of Canada upgraded shares of Pinnacle West Capital to a "hold" rating in a research note on Tuesday, October 28th. Finally, Zacks Research upgraded Pinnacle West Capital from a "strong sell" rating to a "hold" rating in a research note on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Pinnacle West Capital currently has an average rating of "Hold" and an average price target of $97.38.

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Get Our Latest Analysis on PNW

Pinnacle West Capital Trading Up 0.3%

Shares of Pinnacle West Capital stock opened at $90.86 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.25. The company has a fifty day simple moving average of $89.89 and a 200-day simple moving average of $90.09. The stock has a market cap of $10.88 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 9.23 and a beta of 0.50. Pinnacle West Capital Corporation has a 12-month low of $81.47 and a 12-month high of $96.50.

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Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings results on Monday, November 3rd. The utilities provider reported $3.39 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the business earned $3.37 EPS. Pinnacle West Capital's revenue for the quarter 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. On average, equities analysts forecast that Pinnacle West Capital Corporation will post 5.13 EPS for the current fiscal year.

Pinnacle West Capital Increases Dividend

The company also recently announced 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 boost from Pinnacle West Capital's previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.0%. Pinnacle West Capital's payout ratio is currently 74.74%.

Pinnacle West Capital Profile

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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