Squarepoint Ops LLC Sells 24,925 Shares of Pinnacle West Capital Corporation $PNW

by · The Markets Daily

Squarepoint Ops LLC cut its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW – Free Report) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 628,047 shares of the utilities provider’s stock after selling 24,925 shares during the period. Squarepoint Ops LLC’s holdings in Pinnacle West Capital were worth $56,191,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PNW. Ameritas Advisory Services LLC bought a new position in Pinnacle West Capital during the 2nd quarter valued at about $31,000. Brooklyn Investment Group boosted its holdings in shares of Pinnacle West Capital by 440.0% during the 1st quarter. Brooklyn Investment Group now owns 486 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 396 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Pinnacle West Capital by 72.2% in the second quarter. Steward Partners Investment Advisory LLC now owns 508 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 213 shares during the period. CNB Bank purchased a new position in shares of Pinnacle West Capital during the second quarter valued at approximately $64,000. Finally, Bayforest Capital Ltd raised its holdings in shares of Pinnacle West Capital by 82.6% during the first quarter. Bayforest Capital Ltd now owns 935 shares of the utilities provider’s stock valued at $89,000 after purchasing an additional 423 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PNW shares. KeyCorp dropped their target price on shares of Pinnacle West Capital from $100.00 to $97.00 and set an “overweight” rating on the stock in a report on Wednesday, October 15th. Barclays raised their price target on Pinnacle West Capital from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a report on Wednesday, October 8th. Mizuho downgraded Pinnacle West Capital from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $102.00 to $90.00 in a report on Tuesday, September 9th. Finally, Argus dropped their target price on Pinnacle West Capital from $98.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, September 30th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Pinnacle West Capital has an average rating of “Hold” and a consensus target price of $97.58.

View Our Latest Stock Analysis on PNW

Pinnacle West Capital Trading Up 0.1%

Shares of PNW stock opened at $86.67 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.67 and a quick ratio of 0.49. The company has a market cap of $10.37 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 8.59 and a beta of 0.54. Pinnacle West Capital Corporation has a 1 year low of $81.47 and a 1 year high of $96.50. The firm has a fifty day moving average price of $89.97 and a 200-day moving average price of $89.90.

Pinnacle West Capital (NYSE:PNW – Get Free Report) last released its earnings results on Monday, November 3rd. The utilities provider reported $3.39 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the business earned $3.37 earnings per share. Pinnacle West Capital’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 and its FY 2025 guidance at 4.900-5.100 EPS. As a group, equities analysts predict that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 2nd will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, February 2nd. Pinnacle West Capital’s payout ratio is presently 74.74%.

About Pinnacle West Capital

(Free Report)

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.

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