Assenagon Asset Management S.A. Grows Stock Holdings in Pinnacle West Capital Corporation $PNW

Assenagon Asset Management S.A. grew its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 8.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 996,153 shares of the utilities provider’s stock after acquiring an additional 75,466 shares during the period. Assenagon Asset Management S.A.’s holdings in Pinnacle West Capital were worth $100,362,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. CYBER HORNET ETFs LLC purchased a new position in shares of Pinnacle West Capital during the second quarter valued at $27,000. MUFG Securities EMEA plc bought a new position in Pinnacle West Capital during the 2nd quarter worth about $32,000. Clearstead Advisors LLC increased its position in Pinnacle West Capital by 88.5% during the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 185 shares during the period. Dorato Capital Management purchased a new position in Pinnacle West Capital during the 4th quarter valued at about $69,000. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of 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 purchasing an additional 488 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pinnacle West Capital

In other news, EVP Jacob Tetlow sold 6,567 shares of the stock in a transaction 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 completion of the sale, 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PNW shares. Wells Fargo & Company set a $106.00 price target on shares of Pinnacle West Capital in a research report on Tuesday, April 21st. Stifel Nicolaus set a $107.00 price objective on shares of Pinnacle West Capital in a report on Thursday, February 26th. Weiss Ratings raised shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Citigroup upped their target price on Pinnacle West Capital from $100.00 to $109.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Finally, TD Cowen increased their target price on 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 equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, Pinnacle West Capital has a consensus rating of “Hold” and an average target price of $102.71.

Pinnacle West Capital Stock Up 1.2%

NYSE:PNW opened at $105.35 on Thursday. The company’s 50-day simple moving average is $101.77 and its 200-day simple moving average is $97.55. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.39 and a current ratio of 0.60. Pinnacle West Capital Corporation has a fifty-two week low of $85.32 and a fifty-two week high of $105.62. The stock has a market capitalization of $12.77 billion, a P/E ratio of 19.62, a P/E/G ratio of 3.81 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business posted ($0.04) EPS. Pinnacle West Capital’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 analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 4th were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.5%. Pinnacle West Capital’s dividend payout ratio is presently 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.