Capital Research Global Investors (CRGI), an investment management division of Capital Research and Management Company and affiliated entities, reports beneficial ownership of 15,095,112 shares of Pinnacle West Capital Corp common stock, representing 12.6% of the 119,399,009 shares believed to be outstanding. CRGI states it has sole voting power and sole dispositive power over these shares and is classified as an investment adviser (IA). The filing notes these securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer.
Barrow Hanley Mewhinney & Strauss LLC reports beneficial ownership of 6,487,007 shares of Pinnacle West Capital Corp common stock, representing 5.43% of the class. The filing shows the firm has sole voting power over 4,516,996 shares and shared voting power over 1,970,011 shares, with sole dispositive power for all 6,487,007 shares and no shared dispositive power. The statement includes a certification that the securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer. This disclosure informs investors of a material institutional stake and the holder's voting and disposition authorities.
Tetlow Jacob, who is listed as EVP and COO (APS) of Pinnacle West Capital Corporation (PNW), reported a sale of 56 shares of common stock on 08/11/2025 at a price of $92.37. After the reported transaction he beneficially owns 6,496 shares directly and has an additional 2,471 shares of indirect ownership through a 401(k). The Form 4 records the disposition with transaction code S (sale).
Pinnacle West Capital Corporation (PNW) submitted a Form 144 notice for the proposed sale of 6,496 shares of common stock, with an aggregate market value of $609,194.88. The sale is to be effected through Wells Fargo Advisors on the NYSE with an approximate sale date of 08/11/2025, against a reported 119,427,244 shares outstanding.
The shares were acquired on 03/18/2025 as stock issued under the company’s Long Term Incentive Plan. The filing reports no securities sold in the past three months by the person for whose account the sale is proposed. The notice includes the seller's representation that they are not aware of any undisclosed material adverse information about the issuer. The filing does not identify the selling individual or provide details on any trading plan.
Pinnacle West (PNW) Q2-25 10-Q highlights
Operating revenue grew 3.8% YoY to $1.36 billion (YTD +5.8% to $2.39 billion), but higher fuel (+9%), O&M (+5%) and depreciation costs compressed margins. Operating income slipped 2% to $308 million, and net income attributable to common shareholders fell 5.5% to $193 million; diluted EPS dropped to $1.58 (-10% YoY). Six-month EPS is $1.54 versus $1.92 last year.
Balance sheet & cash: Capex accelerated 27% YoY to $1.33 billion, lifting total assets to $29.2 billion (+12% since 12/24). Short-term borrowings surged to $1.41 billion (vs. $0.57 billion year-end) and total debt reached $8.86 billion, raising net interest expense 4% to $102 million. Operating cash flow strengthened 23% to $663 million, supporting a cash balance of $19 million (vs. $4 million).
Equity & dividends: Average diluted shares increased 7% to 121.9 million due to ATM/forward equity programs, diluting per-share metrics. The board paid a $1.79 per-share dividend ($214 million), keeping the payout ratio above 100% of YTD earnings.
Regulatory & other: APS received a $300 million equity infusion and continues to pursue cost-recovery adjustors and its carbon-neutral 2050 goal. Management lists inflation, interest-rate, cyber and climate risks among key forward-looking factors.