Soroban Capital Partners Adds $100M in Pinnacle West Capital Corporation ($PNW)
Key Points
- Soroban Capital Partners changed its Pinnacle West Capital Corporation ($PNW) stake by 34.0% last quarter, boosting to 3,854,815 shares worth $394.73 million.
- Wall Street's consensus rating on $PNW is Hold and an average price target of $105.07.
- $PNW last traded around $102.40.
Soroban Capital Partners increased its position in Pinnacle West Capital Corporation ($PNW) by 34.0% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,854,815 shares of Pinnacle West Capital Corporation after buying 977,411 shares during the quarter. Soroban Capital Partners's holdings in Pinnacle West Capital Corporation were worth $394.73 million as of its most recent filing.
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About Pinnacle West Capital Corporation
Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using nuclear, gas, oil, coal, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables. The company also owns and maintains substations, including transmission and distribution yards; and owns energy storage facilities. Pinnacle West Capital Corporation was incorporated in 1985 and is headquartered in Phoenix, Arizona.
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