Allspring Global Investments Holdings LLC Boosts Stake in Pinnacle West Capital Corporation $PNW

Allspring Global Investments Holdings LLC lifted its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 1,510.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,939 shares of the utilities provider’s stock after purchasing an additional 108,742 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.10% of Pinnacle West Capital worth $11,771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PNW. Norges Bank purchased a new position in shares of Pinnacle West Capital during the fourth quarter valued at approximately $140,468,000. ATLAS Infrastructure Partners UK Ltd. boosted its holdings in Pinnacle West Capital by 44.3% in the fourth quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock worth $395,712,000 after purchasing an additional 1,369,350 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Pinnacle West Capital in the fourth quarter worth approximately $68,008,000. Wellington Management Group LLP bought a new stake in Pinnacle West Capital in the 4th quarter worth approximately $57,379,000. Finally, Assenagon Asset Management S.A. grew its position in Pinnacle West Capital by 133.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 920,687 shares of the utilities provider’s stock worth $81,665,000 after purchasing an additional 526,212 shares during the period. 91.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Jacob Tetlow sold 6,567 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 6,634 shares of the company’s stock, valued at $656,766. This represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Pinnacle West Capital Trading Up 0.6%

Shares of Pinnacle West Capital stock opened at $106.27 on Thursday. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $111.16. The company’s fifty day simple moving average is $104.15 and its 200-day simple moving average is $100.31. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. The stock has a market capitalization of $12.88 billion, a PE ratio of 19.79, a P/E/G ratio of 3.84 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.30. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the business posted ($0.04) EPS. Pinnacle West Capital’s revenue was up 11.4% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, equities analysts anticipate that Pinnacle West Capital Corporation will post 4.73 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be paid a dividend of $0.91 per share. The ex-dividend date is Monday, August 3rd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.4%. Pinnacle West Capital’s payout ratio is 67.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PNW shares. Jefferies Financial Group reiterated a “buy” rating and set a $129.00 target price on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. BMO Capital Markets cut their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a report on Wednesday. Argus upped their price objective on Pinnacle West Capital from $95.00 to $106.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Weiss Ratings raised Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley set a $97.00 target price on Pinnacle West Capital in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $104.07.

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.