Advisors Asset Management Inc. Acquires 3,215 Shares of Pinnacle West Capital Corporation $PNW

Advisors Asset Management Inc. increased its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 19.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,614 shares of the utilities provider’s stock after purchasing an additional 3,215 shares during the quarter. Advisors Asset Management Inc.’s holdings in Pinnacle West Capital were worth $1,755,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC purchased a new position in shares of Pinnacle West Capital in the fourth quarter worth about $417,000. Cetera Investment Advisers grew its position in Pinnacle West Capital by 4.1% during the 1st quarter. Cetera Investment Advisers now owns 30,444 shares of the utilities provider’s stock worth $2,900,000 after acquiring an additional 1,196 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Pinnacle West Capital by 4.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,685 shares of the utilities provider’s stock worth $2,542,000 after acquiring an additional 1,239 shares during the last quarter. Mackenzie Financial Corp increased its stake in Pinnacle West Capital by 146.6% in the 1st quarter. Mackenzie Financial Corp now owns 42,279 shares of the utilities provider’s stock worth $4,027,000 after purchasing an additional 25,137 shares during the period. Finally, XTX Topco Ltd bought a new stake in Pinnacle West Capital in the first quarter valued at approximately $714,000. 91.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PNW has been the topic of several recent analyst reports. Royal Bank Of Canada upgraded shares of Pinnacle West Capital to a “hold” rating in a report on Tuesday, October 28th. Zacks Research raised shares of Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Pinnacle West Capital in a research note on Wednesday, October 8th. BMO Capital Markets restated a “market perform” rating and set a $99.00 price target on shares of Pinnacle West Capital in a report on Monday, October 20th. Finally, TD Cowen assumed coverage on Pinnacle West Capital in a report on Thursday, October 16th. They issued a “hold” rating and a $97.00 price objective for the company. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Pinnacle West Capital has a consensus rating of “Hold” and an average target price of $97.38.

Pinnacle West Capital Price Performance

PNW stock opened at $90.86 on Friday. The firm has a 50 day moving average price of $89.89 and a 200-day moving average price of $90.09. Pinnacle West Capital Corporation has a 52-week low of $81.47 and a 52-week high of $96.50. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 9.23 and a beta of 0.50. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.37 and a current ratio of 0.52.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $3.39 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.35. Pinnacle West Capital had a return on equity of 8.45% and a net margin of 10.96%.The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the business posted $3.37 EPS. The firm’s quarterly revenue 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. Equities research 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 disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 3rd will be paid a dividend of $0.91 per share. The ex-dividend date is Monday, November 3rd. This represents a $3.64 dividend on an annualized basis and a yield of 4.0%. This is an increase from Pinnacle West Capital’s previous quarterly dividend of $0.90. Pinnacle West Capital’s dividend payout ratio (DPR) is 74.74%.

About Pinnacle West Capital

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.