BlackRock Amends Pinnacle West Stake (15th Update)
Ticker: PNW · Form: SC 13G/A · Filed: Jan 25, 2024 · CIK: 764622
| Field | Detail |
|---|---|
| Company | Pinnacle West Capital Corp (PNW) |
| Form Type | SC 13G/A |
| Filed Date | Jan 25, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock updated its passive stake in Pinnacle West Capital, signaling a portfolio rebalance.**
AI Summary
BlackRock Inc. filed an amended Schedule 13G/A on January 25, 2024, indicating a change in its ownership of Pinnacle West Capital Corp. common stock as of December 31, 2023. This amendment, number 15, shows BlackRock's updated passive investment stake in the utility company. This matters to investors because BlackRock is a major institutional investor, and changes in its holdings can signal shifts in its investment strategy or outlook on Pinnacle West Capital Corp.
Why It Matters
Large institutional ownership changes can influence stock perception and liquidity, as BlackRock's actions often reflect broader market sentiment or specific analysis of the utility sector.
Risk Assessment
Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate or significant risk to the company or its shareholders.
Analyst Insight
Investors should note BlackRock's continued presence as a significant shareholder, but this routine update doesn't warrant immediate action. It's a data point for understanding institutional interest.
Key Players & Entities
- BlackRock Inc. (company) — the entity filing the SC 13G/A, a major institutional investor
- PINNACLE WEST CAPITAL CORP (company) — the subject company whose common stock is being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 25, 2024 (date) — the filing date of the SC 13G/A
- Amendment No: 15 (number) — the specific amendment number for this filing
Forward-Looking Statements
- BlackRock will continue to be a significant passive holder of Pinnacle West Capital Corp. stock. (BlackRock Inc.) — high confidence, target: December 31, 2024
FAQ
What type of filing is this and what does it generally indicate?
This is an SC 13G/A filing, which is an amendment to a Schedule 13G. It generally indicates that a passive institutional investor, like BlackRock Inc., has updated its ownership stake in a public company, in this case, PINNACLE WEST CAPITAL CORP, as of a specific date.
Who is the reporting entity in this filing?
The reporting entity is BlackRock Inc., a major asset management firm with a Central Index Key (CIK) of 0001364742, located at 50 Hudson Yards, New York, NY.
What company's securities are the subject of this filing?
The subject company is PINNACLE WEST CAPITAL CORP, an electric services company (SIC 4911) with CIK 0000764622, located at 400 North Fifth Street, Phoenix, AZ.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, indicating the ownership position being reported is as of the end of last year.
What is the CUSIP number for the securities mentioned in this filing?
The CUSIP number for the Common Stock of PINNACLE WEST CAPITAL CORP, as stated in the filing, is 723484101.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 25, 2024 regarding PINNACLE WEST CAPITAL CORP (PNW).