Harvest Portfolios Group Inc. Has $8.91 Million Holdings in Pinnacle West Capital Corporation $PNW

Harvest Portfolios Group Inc. boosted its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 22.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,333 shares of the utilities provider’s stock after buying an additional 18,049 shares during the period. Harvest Portfolios Group Inc. owned approximately 0.08% of Pinnacle West Capital worth $8,906,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caldwell Trust Co acquired a new stake in shares of Pinnacle West Capital during the 2nd quarter worth approximately $27,000. CYBER HORNET ETFs LLC bought a new stake in Pinnacle West Capital during the second quarter worth $27,000. Bayforest Capital Ltd acquired a new stake in shares of Pinnacle West Capital in the 3rd quarter valued at $29,000. Quent Capital LLC acquired a new stake in shares of Pinnacle West Capital in the 3rd quarter valued at $30,000. Finally, MUFG Securities EMEA plc bought a new position in shares of Pinnacle West Capital in the 2nd quarter valued at $32,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Trading Up 0.7%

PNW opened at $100.26 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.67 and a quick ratio of 0.49. Pinnacle West Capital Corporation has a fifty-two week low of $85.32 and a fifty-two week high of $101.13. The company’s 50 day moving average price is $93.19 and its two-hundred day moving average price is $90.72. The firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 5.99 and a beta of 0.54.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Wednesday, February 25th. The utilities provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.17 billion. Pinnacle West Capital had a net margin of 11.55% and a return on equity of 8.86%. Pinnacle West Capital’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, research analysts predict that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 2nd will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, February 2nd. Pinnacle West Capital’s dividend payout ratio (DPR) is 74.74%.

Analysts Set New Price Targets

Several research firms recently weighed in on PNW. Morgan Stanley set a $96.00 price objective on Pinnacle West Capital in a research note on Friday, February 20th. Citigroup raised their price target on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday. Stifel Nicolaus set a $107.00 price objective on shares of Pinnacle West Capital in a research report on Thursday. Wells Fargo & Company raised their target price on shares of Pinnacle West Capital from $91.00 to $97.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Zacks Research raised shares of Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $100.08.

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.