Barrow Hanley Global Investors Takes 5.0% Stake in Pinnacle West

TL;DR

**Barrow Hanley Global Investors just revealed a 5.0% stake in Pinnacle West Capital Corp, a bullish signal for the utility stock.**

AI Summary

Barrow Hanley Global Investors, an investment firm, reported on February 13, 2024, that as of December 31, 2023, they beneficially own 5.0% of Pinnacle West Capital Corp's common stock. This ownership stake, totaling 5,666,000 shares, indicates a significant position in the utility company. This matters to investors because it signals a major institutional investor's confidence in Pinnacle West, potentially influencing other investors and the stock's stability.

Why It Matters

A substantial stake by a major institutional investor like Barrow Hanley Global Investors can be seen as a vote of confidence in Pinnacle West Capital Corp, potentially attracting more investment and stabilizing the stock price.

Risk Assessment

Risk Level: low — This filing indicates a significant institutional investment, which generally adds stability and reduces risk for a company's stock.

Analyst Insight

A smart investor would view this as a positive signal, indicating institutional confidence in Pinnacle West Capital Corp. It might warrant further research into the company's fundamentals, especially if considering a long position.

Key Numbers

• 5.0% — Ownership Percentage (Barrow Hanley Global Investors' stake in Pinnacle West Capital Corp)
• 5,666,000 — Shares Owned (Total shares of Pinnacle West Capital Corp common stock beneficially owned by Barrow Hanley Global Investors)

Key Players & Entities

• Barrow Hanley Global Investors (company) — the reporting person who filed the SC 13G
• Pinnacle West Capital Corp (company) — the issuer of the common stock
• 5.0% (dollar_amount) — percentage of class owned by Barrow Hanley Global Investors
• 5,666,000 (dollar_amount) — number of shares beneficially owned by Barrow Hanley Global Investors
• December 31, 2023 (date) — date of the event requiring the filing
• February 13, 2024 (date) — date the SC 13G filing was made

Forward-Looking Statements

• Pinnacle West Capital Corp's stock price will experience increased stability due to institutional backing. (Pinnacle West Capital Corp) — medium confidence, target: Q2 2024
• Other institutional investors may consider initiating or increasing positions in Pinnacle West Capital Corp. (Pinnacle West Capital Corp) — low confidence, target: Q3 2024

FAQ

Filing Documents

• pnw13g02132024.htm (SC 13G) — 50KB
• 0000313028-24-000022.txt ( ) — 52KB

(a)

Item 1(a) Name of Issuer: Pinnacle West Capital Corp 1(b) Address of Issuer's Principal Executive Offices: 400 NORTH FIFTH STREET, MS 8695 PHOENIX, AZ 85004

(a)

Item 2(a) Name of Person Filing: Barrow Hanley Global Investors 2(b) Address of Principal Business Office or, if none, Residence: 2200 Ross Avenue, 31st Floor Dallas, TX 75201-2761 2(c) Citizenship: A Delaware limited liability company 2(d) Title of Class of Securities Common Stock 2(e) CUSIP Number: 723484101 Item 3 If this statement is filed pursuant to 240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with 240.13d-1(b)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) Group, in a accordance with 240.13d-1(b)(1)(ii)(J). 3 Item 4 4(a) Amount beneficially owned: 5,721,114 shares 4(b) Percent of Class: 5.05% 4(c) Number of shares as to which person has: (i) Sole power to vote or to direct the vote: 4,114,048 shares (ii) Shared power to vote or to direct the vote: 1,607,066 shares (iii) Sole power to dispose or to direct the disposition of: 5,721,114 shares (iv) Shared power to dispose or to direct the disposition of: — Item 5 Not Applicable. Item 6 The right to receive or the power to dire

View Full Filing

View this SC 13G filing on SEC EDGAR