DAVENPORT & Co LLC Has $209,000 Stock Position in Pinnacle West Capital Corporation $PNW

DAVENPORT & Co LLC lowered its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 93.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,352 shares of the utilities provider’s stock after selling 34,510 shares during the quarter. DAVENPORT & Co LLC’s holdings in Pinnacle West Capital were worth $209,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its stake in shares of Pinnacle West Capital by 5.0% in the third quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider’s stock worth $1,421,407,000 after acquiring an additional 758,190 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Pinnacle West Capital by 8.5% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock valued at $647,679,000 after purchasing an additional 568,581 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Pinnacle West Capital by 2.5% in the second quarter. Invesco Ltd. now owns 4,248,954 shares of the utilities provider’s stock valued at $380,154,000 after purchasing an additional 102,778 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Pinnacle West Capital by 7.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,983,626 shares of the utilities provider’s stock worth $267,512,000 after purchasing an additional 203,136 shares during the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. raised its position in Pinnacle West Capital by 2.5% in the 2nd quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,862,950 shares of the utilities provider’s stock worth $256,148,000 after purchasing an additional 69,404 shares during the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

Shares of PNW stock opened at $102.64 on Friday. The firm’s 50 day moving average price is $98.37 and its two-hundred day moving average price is $92.52. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.36 and a current ratio of 0.54. Pinnacle West Capital Corporation has a 52-week low of $85.32 and a 52-week high of $103.97. The stock has a market cap of $12.41 billion, a PE ratio of 20.28, a PEG ratio of 3.72 and a beta of 0.49.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Wednesday, February 25th. The utilities provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.05 by $0.08. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Pinnacle West Capital had a net margin of 11.55% and a return on equity of 8.82%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, analysts forecast that Pinnacle West Capital Corporation will post 5.13 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays increased their price objective on Pinnacle West Capital from $97.00 to $101.00 and gave the company an “equal weight” rating in a research report on Tuesday. BMO Capital Markets boosted their target price on Pinnacle West Capital from $98.00 to $107.00 and gave the stock a “market perform” rating in a research report on Thursday, February 26th. TD Cowen upped their price target on Pinnacle West Capital from $97.00 to $100.00 and gave the company a “hold” rating in a research note on Thursday, February 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a report on Thursday, January 22nd. Finally, UBS Group lifted their price objective on Pinnacle West Capital from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. Three research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $100.92.

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.