Massachusetts Financial Services Co. MA Has $267.51 Million Stake in Pinnacle West Capital Corporation $PNW

Massachusetts Financial Services Co. MA lifted its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 7.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,983,626 shares of the utilities provider’s stock after purchasing an additional 203,136 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Pinnacle West Capital were worth $267,512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PNW. Norges Bank acquired a new stake in Pinnacle West Capital during the 2nd quarter valued at $114,384,000. Vanguard Group Inc. raised its position in shares of Pinnacle West Capital by 2.2% in the second quarter. Vanguard Group Inc. now owns 14,781,290 shares of the utilities provider’s stock valued at $1,322,482,000 after purchasing an additional 316,629 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of Pinnacle West Capital by 129.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 384,629 shares of the utilities provider’s stock worth $34,413,000 after buying an additional 216,984 shares during the last quarter. Midwest Trust Co bought a new stake in shares of Pinnacle West Capital during the 2nd quarter worth about $17,851,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in Pinnacle West Capital in the 3rd quarter valued at about $16,292,000. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 1.0%

Shares of Pinnacle West Capital stock opened at $93.62 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 1.28. Pinnacle West Capital Corporation has a 12-month low of $84.28 and a 12-month high of $96.50. The company has a market capitalization of $11.20 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 9.48 and a beta of 0.55. The firm’s 50-day moving average price is $89.01 and its two-hundred day moving average price is $89.81.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Monday, November 3rd. The utilities provider reported $3.39 EPS for the quarter, beating the consensus estimate of $3.04 by $0.35. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Pinnacle West Capital had a net margin of 11.20% and a return on equity of 8.57%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.37 EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS and its FY 2025 guidance at 4.900-5.100 EPS. On average, analysts forecast that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 2nd will be paid a dividend of $0.91 per share. The ex-dividend date is Monday, February 2nd. This represents a $3.64 annualized dividend and a yield of 3.9%. Pinnacle West Capital’s dividend payout ratio is presently 74.74%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 price target on shares of Pinnacle West Capital in a report on Tuesday, November 4th. Wells Fargo & Company raised Pinnacle West Capital to a “hold” rating in a research report on Tuesday, October 28th. Zacks Research upgraded Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Morgan Stanley set a $85.00 price target on Pinnacle West Capital in a research note on Tuesday, December 16th. Finally, Royal Bank Of Canada raised Pinnacle West Capital to a “hold” rating in a report on Tuesday, October 28th. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $96.17.

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.