Corient Private Wealth LLC Acquires 6,086 Shares of Pinnacle West Capital Corporation $PNW

Corient Private Wealth LLC lifted its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 36.6% during the fourth quarter, HoldingsChannel reports. The firm owned 22,700 shares of the utilities provider’s stock after purchasing an additional 6,086 shares during the quarter. Corient Private Wealth LLC’s holdings in Pinnacle West Capital were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNW. Aristotle Capital Boston LLC purchased a new position in Pinnacle West Capital in the third quarter valued at approximately $1,007,000. Gotham Asset Management LLC grew its holdings in Pinnacle West Capital by 37.4% during the third quarter. Gotham Asset Management LLC now owns 367,950 shares of the utilities provider’s stock valued at $32,990,000 after purchasing an additional 100,120 shares during the period. First Trust Advisors LP increased its position in Pinnacle West Capital by 6.3% in the third quarter. First Trust Advisors LP now owns 1,307,421 shares of the utilities provider’s stock worth $117,223,000 after buying an additional 76,930 shares during the last quarter. DNB Asset Management AS increased its position in Pinnacle West Capital by 61.3% in the fourth quarter. DNB Asset Management AS now owns 44,843 shares of the utilities provider’s stock worth $3,978,000 after buying an additional 17,037 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Pinnacle West Capital by 8.5% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock valued at $647,679,000 after buying an additional 568,581 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total value 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 Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by corporate insiders.

Pinnacle West Capital Stock Down 0.3%

Shares of NYSE PNW opened at $107.76 on Tuesday. 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 company has a market cap of $13.06 billion, a P/E ratio of 20.07, a P/E/G ratio of 3.95 and a beta of 0.44. Pinnacle West Capital Corporation has a 52 week low of $85.32 and a 52 week high of $108.37. The business has a 50-day simple moving average of $102.04 and a two-hundred day simple moving average of $97.97.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, beating the consensus estimate 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 prior year, the business posted ($0.04) earnings per share. The company’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. Research analysts anticipate that Pinnacle West Capital Corporation will post 4.71 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently commented on PNW shares. Weiss Ratings raised Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Morgan Stanley set a $95.00 price objective on Pinnacle West Capital in a report on Wednesday, June 24th. Wells Fargo & Company set a $106.00 price objective on Pinnacle West Capital in a research note on Tuesday, April 21st. Barclays upped their price objective on shares of Pinnacle West Capital from $101.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Finally, TD Cowen increased their target price on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a research report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, Pinnacle West Capital currently has an average rating of “Hold” and a consensus price target of $102.71.

Pinnacle West Capital Company 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.