BNP Paribas Financial Markets Has $19.70 Million Position in Pinnacle West Capital Corporation $PNW

BNP Paribas Financial Markets raised its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 79.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 222,040 shares of the utilities provider’s stock after buying an additional 98,650 shares during the period. BNP Paribas Financial Markets owned 0.19% of Pinnacle West Capital worth $19,695,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC acquired a new stake in Pinnacle West Capital in the 2nd quarter valued at $27,000. MUFG Securities EMEA plc acquired a new stake in Pinnacle West Capital in the 2nd quarter valued at $32,000. Clearstead Advisors LLC increased its stake in Pinnacle West Capital by 88.5% in the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock valued at $35,000 after buying an additional 185 shares during the last quarter. Dorato Capital Management acquired a new stake in Pinnacle West Capital in the 4th quarter valued at $69,000. Finally, Brown Brothers Harriman & Co. increased its stake in Pinnacle West Capital by 102.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 966 shares of the utilities provider’s stock valued at $87,000 after buying an additional 488 shares during the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Jacob Tetlow sold 6,567 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total value of $650,133.00. Following the transaction, the executive vice president owned 6,634 shares in the company, valued at approximately $656,766. This represents a 49.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

PNW has been the topic of several recent research reports. Weiss Ratings upgraded shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. TD Cowen boosted their price objective on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a research note on Friday, May 15th. Wall Street Zen upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wells Fargo & Company set a $106.00 price objective on shares of Pinnacle West Capital in a research note on Tuesday, April 21st. Finally, Citigroup boosted their price objective on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. 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, Pinnacle West Capital presently has a consensus rating of “Hold” and a consensus price target of $102.50.

Pinnacle West Capital Stock Up 2.7%

Pinnacle West Capital stock opened at $103.16 on Friday. The firm has a market capitalization of $12.50 billion, a PE ratio of 19.21, a P/E/G ratio of 3.68 and a beta of 0.44. The company’s 50-day moving average is $101.49 and its 200-day moving average is $96.25. Pinnacle West Capital Corporation has a fifty-two week low of $85.32 and a fifty-two week high of $104.92. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.30. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.08 billion. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. Pinnacle West Capital’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Sell-side analysts anticipate that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 4th were paid a $0.91 dividend. The ex-dividend date was Monday, May 4th. This represents a $3.64 dividend on an annualized basis and a yield of 3.5%. Pinnacle West Capital’s dividend payout ratio is 67.78%.

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.