JPMorgan Chase & Co. Decreases Stock Holdings in Pinnacle West Capital Corporation $PNW

JPMorgan Chase & Co. lessened its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 26.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 395,645 shares of the utilities provider’s stock after selling 139,790 shares during the period. JPMorgan Chase & Co. owned 0.33% of Pinnacle West Capital worth $35,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PNW. Y Intercept Hong Kong Ltd grew its holdings in shares of Pinnacle West Capital by 164.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 44,748 shares of the utilities provider’s stock valued at $4,012,000 after buying an additional 27,832 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in Pinnacle West Capital in the 3rd quarter worth $16,292,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Pinnacle West Capital by 556.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,208 shares of the utilities provider’s stock worth $1,633,000 after acquiring an additional 15,434 shares during the last quarter. Rakuten Investment Management Inc. acquired a new stake in Pinnacle West Capital during the 3rd quarter worth about $2,234,000. Finally, AE Wealth Management LLC lifted its position in Pinnacle West Capital by 9.1% during the 3rd quarter. AE Wealth Management LLC now owns 152,331 shares of the utilities provider’s stock worth $13,658,000 after acquiring an additional 12,732 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Pinnacle West Capital Price Performance

NYSE:PNW opened at $97.42 on Monday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.54 and a quick ratio of 0.36. The company has a 50 day moving average price of $97.06 and a 200-day moving average price of $91.85. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $103.97. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 3.57 and a beta of 0.54.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Wednesday, February 25th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.17 billion. Pinnacle West Capital had a net margin of 11.55% and a return on equity of 8.82%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities research analysts forecast that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Wall Street Analysts Forecast Growth

PNW has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of Pinnacle West Capital from $91.00 to $97.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. Citigroup boosted their target price on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the company a “neutral” rating in a research report on Thursday, February 26th. TD Cowen upped their price target on shares of Pinnacle West Capital from $97.00 to $100.00 and gave the company a “hold” rating in a report on Thursday, February 26th. Barclays cut their price target on Pinnacle West Capital from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Finally, UBS Group lifted their price objective on Pinnacle West Capital from $94.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 17th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Pinnacle West Capital has an average rating of “Hold” and an average price target of $100.08.

Pinnacle West Capital 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.