Jennison Associates LLC Trims Position in Pinnacle West Capital Corporation $PNW

Jennison Associates LLC lessened its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 218,930 shares of the utilities provider’s stock after selling 7,123 shares during the quarter. Jennison Associates LLC’s holdings in Pinnacle West Capital were worth $23,426,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC boosted its holdings in Pinnacle West Capital by 109.6% in the second quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 126 shares in the last quarter. Wealthcare Advisory Partners LLC raised its holdings in Pinnacle West Capital by 6.0% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 18,681 shares of the utilities provider’s stock worth $1,999,000 after purchasing an additional 1,057 shares in the last quarter. Everhart Financial Group Inc. lifted its position in shares of Pinnacle West Capital by 5.1% in the 2nd quarter. Everhart Financial Group Inc. now owns 2,481 shares of the utilities provider’s stock worth $265,000 after purchasing an additional 120 shares during the period. Everpar Advisors LLC purchased a new stake in shares of Pinnacle West Capital in the 2nd quarter worth about $276,000. Finally, Beacon Investment Advisory Services Inc. boosted its stake in shares of Pinnacle West Capital by 0.4% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 65,932 shares of the utilities provider’s stock valued at $7,055,000 after purchasing an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $102.01, for a total value of $183,618.00. Following the sale, the senior vice president owned 4,910 shares in the company, valued at approximately $500,869.10. This represents a 26.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Elizabeth A. Blankenship sold 980 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $99.17, for a total transaction of $97,186.60. Following the transaction, the chief accounting officer directly owned 10,886 shares of the company’s stock, valued at $1,079,564.62. This represents a 8.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.19% of the stock is currently owned by corporate insiders.

Pinnacle West Capital Stock Performance

Shares of Pinnacle West Capital stock opened at $101.39 on Friday. Pinnacle West Capital Corporation has a 12 month low of $85.32 and a 12 month high of $111.16. The firm has a market capitalization of $12.29 billion, a P/E ratio of 19.42, a P/E/G ratio of 3.69 and a beta of 0.44. The company has a current ratio of 0.59, a quick ratio of 0.41 and a debt-to-equity ratio of 1.38. The business has a fifty day simple moving average of $104.54 and a two-hundred day simple moving average of $101.57.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, equities analysts forecast that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.64 annualized dividend and a yield of 3.6%. Pinnacle West Capital’s payout ratio is presently 69.73%.

Analysts Set New Price Targets

PNW has been the topic of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Pinnacle West Capital in a research report on Monday, August 3rd. Wells Fargo & Company set a $106.00 price objective on shares of Pinnacle West Capital in a report on Tuesday, April 21st. BMO Capital Markets cut their price objective on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $129.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, July 8th. Finally, Truist Financial reduced their target price on Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Three 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, Pinnacle West Capital currently has a consensus rating of “Hold” and an average target price of $104.07.

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.