Harvest Portfolios Group Inc. Acquires 9,749 Shares of Pinnacle West Capital Corporation $PNW

Harvest Portfolios Group Inc. raised its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 13.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,284 shares of the utilities provider’s stock after buying an additional 9,749 shares during the quarter. Harvest Portfolios Group Inc. owned about 0.07% of Pinnacle West Capital worth $7,272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PNW. Stratos Wealth Partners LTD. lifted its position in Pinnacle West Capital by 26.2% during the first quarter. Stratos Wealth Partners LTD. now owns 5,546 shares of the utilities provider’s stock valued at $528,000 after purchasing an additional 1,150 shares during the last quarter. Holland Advisory Services Inc. bought a new position in shares of Pinnacle West Capital in the 2nd quarter worth $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Pinnacle West Capital by 3.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 324,764 shares of the utilities provider’s stock valued at $30,934,000 after buying an additional 11,356 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Pinnacle West Capital by 19.1% during the 1st quarter. Allworth Financial LP now owns 780 shares of the utilities provider’s stock worth $74,000 after acquiring an additional 125 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its position in Pinnacle West Capital by 1.3% in the second quarter. Exchange Traded Concepts LLC now owns 9,846 shares of the utilities provider’s stock worth $881,000 after acquiring an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Down 0.9%

Shares of NYSE PNW opened at $87.67 on Friday. The firm has a fifty day simple moving average of $89.46 and a two-hundred day simple moving average of $90.59. The firm has a market capitalization of $10.47 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 9.23 and a beta of 0.50. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.25. Pinnacle West Capital Corporation has a 12 month low of $81.47 and a 12 month high of $96.50.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Monday, November 3rd. The utilities provider reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.35. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Pinnacle West Capital had a net margin of 10.96% and a return on equity of 8.45%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.37 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. FY 2025 guidance at 4.900-5.100 EPS. Equities analysts expect that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

Pinnacle West Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 3rd will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, November 3rd. This is a positive change from Pinnacle West Capital’s previous quarterly dividend of $0.90. Pinnacle West Capital’s payout ratio is presently 74.74%.

Insider Activity at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,496 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $92.37, for a total value of $600,035.52. Following the completion of the sale, the executive vice president owned 56 shares in the company, valued at $5,172.72. This represents a 99.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on PNW. Barclays raised their price target on Pinnacle West Capital from $93.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Jefferies Financial Group reissued a “buy” rating and set a $115.00 price objective on shares of Pinnacle West Capital in a report on Tuesday. TD Cowen began coverage on Pinnacle West Capital in a research report on Thursday, October 16th. They issued a “hold” rating and a $97.00 target price for the company. Mizuho cut shares of Pinnacle West Capital from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $102.00 to $90.00 in a research report on Tuesday, September 9th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $99.00 price target on shares of Pinnacle West Capital in a research note on Monday, October 20th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $97.54.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.