Pinnacle West Capital Corporation $PNW Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 49.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 645,487 shares of the utilities provider’s stock after purchasing an additional 214,907 shares during the period. Hsbc Holdings PLC’s holdings in Pinnacle West Capital were worth $57,309,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of Pinnacle West Capital in the 4th quarter valued at $140,468,000. ATLAS Infrastructure Partners UK Ltd. raised its holdings in Pinnacle West Capital by 44.3% during the 4th quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock worth $395,712,000 after buying an additional 1,369,350 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Pinnacle West Capital during the fourth quarter valued at about $68,008,000. Capital Research Global Investors lifted its stake in Pinnacle West Capital by 5.0% during the third quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider’s stock valued at $1,421,407,000 after buying an additional 758,190 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Pinnacle West Capital during the fourth quarter valued at about $57,379,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Jacob Tetlow sold 6,567 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the transaction, the executive vice president owned 6,634 shares of the company’s stock, valued at approximately $656,766. This represents a 49.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PNW shares. TD Cowen lifted their target price on shares of 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 shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Argus raised their price objective on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Barclays lifted their price objective on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings raised shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $103.14.

Pinnacle West Capital Stock Down 0.1%

Pinnacle West Capital stock opened at $109.27 on Monday. The company has a market capitalization of $13.24 billion, a P/E ratio of 20.35, a P/E/G ratio of 4.00 and a beta of 0.43. The firm’s fifty day simple moving average is $102.50 and its 200-day simple moving average is $98.55. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $109.52.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) 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 analysts’ expectations of $1.08 billion. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. Pinnacle West Capital’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.04) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Sell-side analysts forecast that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, August 3rd. 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.