Pinnacle West Capital Corporation $PNW Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,053 shares of the utilities provider’s stock after selling 4,879 shares during the period. Jennison Associates LLC owned approximately 0.19% of Pinnacle West Capital worth $22,775,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in shares of Pinnacle West Capital during the 4th quarter worth approximately $417,000. NewEdge Advisors LLC grew its holdings in Pinnacle West Capital by 999.1% during the first quarter. NewEdge Advisors LLC now owns 8,210 shares of the utilities provider’s stock worth $782,000 after acquiring an additional 7,463 shares during the period. Jones Financial Companies Lllp grew its holdings in Pinnacle West Capital by 109.8% during the first quarter. Jones Financial Companies Lllp now owns 2,255 shares of the utilities provider’s stock worth $215,000 after acquiring an additional 1,180 shares during the period. Goldman Sachs Group Inc. grew its holdings in Pinnacle West Capital by 10.3% during the first quarter. Goldman Sachs Group Inc. now owns 441,047 shares of the utilities provider’s stock worth $42,010,000 after acquiring an additional 41,173 shares during the period. Finally, Empowered Funds LLC raised its position in Pinnacle West Capital by 12.8% in the first quarter. Empowered Funds LLC now owns 4,600 shares of the utilities provider’s stock worth $438,000 after acquiring an additional 523 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Trading Down 1.2%

NYSE:PNW opened at $106.43 on Tuesday. Pinnacle West Capital Corporation has a 52-week low of $85.32 and a 52-week high of $111.16. 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 stock has a fifty day simple moving average of $103.89 and a 200-day simple moving average of $100.07. The company has a market capitalization of $12.90 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 3.92 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.30. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. 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 prior year, the company earned ($0.04) EPS. The firm’s revenue was up 11.4% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, equities research analysts expect that Pinnacle West Capital Corporation will post 4.73 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be given a $0.91 dividend. The ex-dividend date is Monday, August 3rd. This represents a $3.64 annualized dividend and a dividend yield of 3.4%. Pinnacle West Capital’s dividend payout ratio is currently 67.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PNW shares. Argus upped their price target on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Wall Street Zen raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Wells Fargo & Company set a $106.00 target price on shares of Pinnacle West Capital in a research report on Tuesday, April 21st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $129.00 target price on shares of Pinnacle West Capital in a report on Wednesday, July 8th. Finally, TD Cowen lifted their price target on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a research report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $104.14.

Insider Buying and Selling at Pinnacle West Capital

In other news, EVP Jacob Tetlow sold 6,567 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the completion of the transaction, the executive vice president directly owned 6,634 shares of the company’s stock, valued at $656,766. This trade represents a 49.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Pinnacle West Capital Profile

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.