California Public Employees Retirement System Lowers Holdings in Pinnacle West Capital Corporation $PNW

California Public Employees Retirement System decreased its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 13.2% in the first quarter, HoldingsChannel.com reports. The fund owned 275,327 shares of the utilities provider’s stock after selling 41,749 shares during the quarter. California Public Employees Retirement System’s holdings in Pinnacle West Capital were worth $27,739,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. DNB Asset Management AS increased its holdings in Pinnacle West Capital by 61.3% in the 4th quarter. DNB Asset Management AS now owns 44,843 shares of the utilities provider’s stock valued at $3,978,000 after acquiring an additional 17,037 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of Pinnacle West Capital by 53.0% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 277,946 shares of the utilities provider’s stock valued at $24,654,000 after purchasing an additional 96,236 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Pinnacle West Capital by 133.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 920,687 shares of the utilities provider’s stock valued at $81,665,000 after purchasing an additional 526,212 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. bought a new position in shares of Pinnacle West Capital during the 4th quarter valued at about $1,505,000. Finally, Qsemble Capital Management LP grew its position in shares of Pinnacle West Capital by 393.7% during the fourth quarter. Qsemble Capital Management LP now owns 48,661 shares of the utilities provider’s stock valued at $4,316,000 after purchasing an additional 38,805 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PNW. Argus lifted their target price on Pinnacle West Capital from $95.00 to $106.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Wells Fargo & Company set a $106.00 price target on Pinnacle West Capital in a research note on Tuesday, April 21st. TD Cowen raised their price target on Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a report on Friday, May 15th. Wall Street Zen raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Truist Financial decreased their price objective 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 investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Hold” and a consensus target price of $104.14.

Pinnacle West Capital Stock Performance

Shares of NYSE:PNW opened at $105.61 on Wednesday. The firm has a fifty day simple moving average of $104.01 and a two-hundred day simple moving average of $100.19. 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 market capitalization of $12.80 billion, a P/E ratio of 19.67, a PEG ratio of 3.87 and a beta of 0.43.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s revenue was up 11.4% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital’s payout ratio is presently 67.78%.

Insider Transactions at Pinnacle West Capital

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

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.