Pinnacle West Capital Corporation $PNW Holdings Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 968,416 shares of the utilities provider’s stock after selling 77,884 shares during the period. Bank of New York Mellon Corp’s holdings in Pinnacle West Capital were worth $85,899,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. CYBER HORNET ETFs LLC bought a new position in Pinnacle West Capital in the second quarter worth about $27,000. MUFG Securities EMEA plc bought a new position in Pinnacle West Capital in the second quarter worth about $32,000. Clearstead Advisors LLC lifted its holdings in Pinnacle West Capital by 88.5% in the fourth quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 185 shares during the last quarter. Dorato Capital Management bought a new position in Pinnacle West Capital in the fourth quarter worth about $69,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in Pinnacle West Capital by 102.1% in the third quarter. Brown Brothers Harriman & Co. now owns 966 shares of the utilities provider’s stock worth $87,000 after acquiring an additional 488 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PNW shares. BMO Capital Markets boosted their price objective on Pinnacle West Capital from $98.00 to $107.00 and gave the stock a “market perform” rating in a research report on Thursday, February 26th. TD Cowen boosted their price objective on Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a research report on Friday, May 15th. Wall Street Zen upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Truist Financial reduced their price objective on Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating for the company in a research report on Friday, May 29th. Finally, Argus boosted their price objective on Pinnacle West Capital from $95.00 to $106.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $102.50.

Insiders Place Their Bets

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was 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 directly owned 6,634 shares in the company, valued at $656,766. This represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Pinnacle West Capital Stock Performance

PNW opened at $101.39 on Tuesday. The company has a market capitalization of $12.29 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 3.77 and a beta of 0.44. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $104.92. The business has a 50 day moving average price of $101.55 and a two-hundred day moving average price of $96.38.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.30. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.08 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts predict that Pinnacle West Capital Corporation will post 4.7 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 4th were given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, May 4th. Pinnacle West Capital’s dividend payout ratio is 67.78%.

Pinnacle West Capital Company 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.