JPMorgan Chase Trims Stake in Pinnacle West Capital

Institutional investor reduces position in Arizona utility company by over 26%

Published on Feb. 28, 2026

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JPMorgan Chase & Co. has trimmed its stake in Pinnacle West Capital Corporation (NYSE:PNW), the parent company of Arizona Public Service, by 26.1% in the third quarter, according to a recent 13F filing with the SEC. The institutional investor now owns approximately 395,645 shares, or 0.33%, of the utilities provider's stock.

Why it matters

Pinnacle West Capital is a major electric utility serving over 1 million customers in central and southern Arizona. Changes in ownership by large institutional investors like JPMorgan Chase can signal broader market sentiment and potential shifts in the company's strategic direction.

The details

According to the 13F filing, JPMorgan Chase sold 139,790 shares of Pinnacle West Capital in the third quarter, reducing its total position to 395,645 shares worth $35.5 million. The company cited the utilities provider's stock performance and portfolio rebalancing as reasons for the reduced stake.

  • JPMorgan Chase filed the 13F report disclosing the stake reduction in the third quarter of 2026.

The players

JPMorgan Chase & Co.

A multinational investment bank and financial services company headquartered in New York City.

Pinnacle West Capital Corporation

The parent company of Arizona Public Service, a major electric utility serving over 1 million customers in central and southern Arizona.

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The takeaway

The reduction in JPMorgan Chase's position in Pinnacle West Capital reflects broader market trends and portfolio adjustments by major institutional investors. However, Pinnacle West Capital remains a significant player in the Arizona utility market, and changes in large shareholder positions do not necessarily indicate any immediate changes to the company's operations or strategy.