Harvest Portfolios Group Inc. boosted its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW – Free Report) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,098 shares of the utilities provider’s stock after purchasing an additional 8,765 shares during the period. Harvest Portfolios Group Inc. owned about 0.09% of Pinnacle West Capital worth $9,588,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CYBER HORNET ETFs LLC purchased a new position in shares of Pinnacle West Capital during the 2nd quarter worth approximately $27,000. MUFG Securities EMEA plc purchased a new position in shares of Pinnacle West Capital during the 2nd quarter worth approximately $32,000. Dorato Capital Management purchased a new position in shares of Pinnacle West Capital during the 4th quarter worth approximately $69,000. Brown Brothers Harriman & Co. grew its holdings in shares of Pinnacle West Capital by 102.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 966 shares of the utilities provider’s stock worth $87,000 after acquiring an additional 488 shares during the period. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Pinnacle West Capital by 4,616.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 1,132 shares of the utilities provider’s stock worth $101,000 after acquiring an additional 1,108 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on PNW. Royal Bank Of Canada reiterated a “sector perform” rating and set a $103.00 target price on shares of Pinnacle West Capital in a report on Friday, January 23rd. Citigroup upped their target price on Pinnacle West Capital from $100.00 to $109.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. BMO Capital Markets upped their target price on Pinnacle West Capital from $98.00 to $107.00 and gave the stock a “market perform” rating in a report on Thursday, February 26th. Truist Financial began coverage on Pinnacle West Capital in a report on Monday, April 20th. They set a “hold” rating and a $108.00 target price on the stock. Finally, Argus upped their target price on Pinnacle West Capital from $95.00 to $106.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Pinnacle West Capital presently has an average rating of “Hold” and an average price target of $103.14.
Pinnacle West Capital Stock Performance
Shares of PNW opened at $101.63 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.38. The business’s 50 day moving average price is $101.26 and its 200-day moving average price is $95.15. Pinnacle West Capital Corporation has a 52 week low of $85.32 and a 52 week high of $104.92. The stock has a market cap of $12.32 billion, a P/E ratio of 18.92, a P/E/G ratio of 3.65 and a beta of 0.46.
Pinnacle West Capital (NYSE:PNW – Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.30. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Equities research analysts anticipate that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current fiscal year.
Pinnacle West Capital Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 4th will be given a $0.91 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $3.64 annualized dividend and a yield of 3.6%. Pinnacle West Capital’s dividend payout ratio is 67.78%.
Insider Transactions at Pinnacle West Capital
In related news, EVP Jacob Tetlow sold 6,567 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total value of $650,133.00. Following the transaction, the executive vice president directly owned 6,634 shares of the company’s stock, valued at approximately $656,766. This represents a 49.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.
About Pinnacle West Capital
Pinnacle West Capital Corporation is a publicly traded utility holding company headquartered in Phoenix, Arizona. Through its principal subsidiary, Arizona Public Service Company (APS), Pinnacle West generates, transmits and distributes electricity to more than one million residential, commercial and industrial customers across central and southern Arizona. The company’s regulated operations focus on delivering safe, reliable power while meeting evolving environmental standards.
The company’s diversified generation portfolio includes natural gas–fired plants, the nuclear-powered Palo Verde Generating Station—the largest nuclear facility in the United States by net output—plus growing investments in solar and battery storage projects.
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