Allspring Global Investments Holdings LLC Purchases 108,742 Shares of Pinnacle West Capital Corporation $PNW

Allspring Global Investments Holdings LLC increased its position in Pinnacle West Capital Corporation (NYSE:PNW) by 1,510.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 115,939 shares of the utilities provider’s stock after purchasing an additional 108,742 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Pinnacle West Capital were worth $11,771,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNW. DNB Asset Management AS lifted its stake in shares of Pinnacle West Capital by 61.3% in the 4th quarter. DNB Asset Management AS now owns 44,843 shares of the utilities provider’s stock valued at $3,978,000 after purchasing an additional 17,037 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of Pinnacle West Capital by 53.0% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 277,946 shares of the utilities provider’s stock worth $24,654,000 after purchasing an additional 96,236 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Pinnacle West Capital by 133.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 920,687 shares of the utilities provider’s stock valued at $81,665,000 after purchasing an additional 526,212 shares during the last quarter. Qsemble Capital Management LP increased its position in shares of Pinnacle West Capital by 393.7% during the 4th quarter. Qsemble Capital Management LP now owns 48,661 shares of the utilities provider’s stock valued at $4,316,000 after purchasing an additional 38,805 shares during the last quarter. Finally, Integrated Investment Consultants LLC purchased a new stake in Pinnacle West Capital during the 4th quarter valued at $1,047,000. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Performance

PNW stock opened at $106.27 on Thursday. Pinnacle West Capital Corporation has a twelve month low of $85.32 and a twelve month high of $111.16. The firm has a market cap of $12.88 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 3.84 and a beta of 0.43. The business’s fifty day simple moving average is $104.15 and its two-hundred day simple moving average is $100.31. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.30. The firm 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 business’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.04) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Analysts predict that Pinnacle West Capital Corporation will post 4.73 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley set a $97.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $129.00 price target on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. TD Cowen upped their price target on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a report on Friday, May 15th. Weiss Ratings raised shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets decreased their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, Pinnacle West Capital has an average rating of “Hold” and a consensus price target of $104.07.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total value of $650,133.00. Following the transaction, the executive vice president directly owned 6,634 shares in the company, valued at $656,766. This represents a 49.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by company 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.