Perpetual Ltd Purchases 73,419 Shares of Pinnacle West Capital Corporation $PNW

by · The Markets Daily

Perpetual Ltd boosted its holdings in Pinnacle West Capital Corporation (NYSE:PNW – Free Report) by 17.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 493,105 shares of the utilities provider’s stock after buying an additional 73,419 shares during the quarter. Perpetual Ltd owned 0.41% of Pinnacle West Capital worth $44,212,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Caldwell Trust Co bought a new position in shares of Pinnacle West Capital in the 2nd quarter worth approximately $27,000. CYBER HORNET ETFs LLC bought a new stake in Pinnacle West Capital during the 2nd quarter valued at approximately $27,000. Ameritas Advisory Services LLC bought a new stake in Pinnacle West Capital in the 2nd quarter valued at $31,000. MUFG Securities EMEA plc purchased a new stake in shares of Pinnacle West Capital during the 2nd quarter worth approximately $32,000. Finally, Brooklyn Investment Group increased its holdings in shares of Pinnacle West Capital by 440.0% in the 1st quarter. Brooklyn Investment Group now owns 486 shares of the utilities provider’s stock worth $46,000 after buying an additional 396 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PNW shares. Argus cut their price target on shares of Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, September 30th. Barclays upped their price objective on shares of Pinnacle West Capital from $93.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. UBS Group lifted their price objective on shares of Pinnacle West Capital from $94.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday. Jefferies Financial Group restated a “buy” rating and issued a $115.00 price target on shares of Pinnacle West Capital in a research note on Tuesday, November 4th. Finally, Zacks Research raised shares of Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $96.58.

Read Our Latest Analysis on Pinnacle West Capital

Pinnacle West Capital Stock Down 1.5%

Shares of NYSE:PNW opened at $87.26 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 1.28. Pinnacle West Capital Corporation has a 52-week low of $81.47 and a 52-week high of $96.50. The company has a 50 day moving average of $89.56 and a two-hundred day moving average of $89.79. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 8.64 and a beta of 0.54.

Pinnacle West Capital (NYSE:PNW – Get Free Report) last issued its earnings results on Monday, November 3rd. The utilities provider reported $3.39 EPS for the quarter, topping the consensus estimate of $3.04 by $0.35. Pinnacle West Capital had a return on equity of 8.57% and a net margin of 11.20%.The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the firm earned $3.37 EPS. The business’s revenue was up 2.9% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS and its FY 2025 guidance at 4.900-5.100 EPS. As a group, analysts forecast that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 2nd will be given a $0.91 dividend. The ex-dividend date is Monday, February 2nd. This represents a $3.64 annualized dividend and a yield of 4.2%. Pinnacle West Capital’s payout ratio is 74.74%.

About Pinnacle West Capital

(Free Report)

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.

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