Reaves W H & Co. Inc. Sells 84,340 Shares of Pinnacle West Capital Corporation $PNW

Reaves W H & Co. Inc. cut its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,719,774 shares of the utilities provider’s stock after selling 84,340 shares during the period. Pinnacle West Capital accounts for approximately 2.7% of Reaves W H & Co. Inc.’s portfolio, making the stock its 12th largest holding. Reaves W H & Co. Inc.’s holdings in Pinnacle West Capital were worth $152,544,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of Pinnacle West Capital by 110.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 202,359 shares of the utilities provider’s stock valued at $18,144,000 after acquiring an additional 106,244 shares during the last quarter. Caprock Group LLC bought a new stake in shares of Pinnacle West Capital during the 3rd quarter valued at about $1,450,000. Aristotle Capital Boston LLC bought a new stake in shares of Pinnacle West Capital during the 3rd quarter valued at about $1,007,000. Gotham Asset Management LLC boosted its position in shares of Pinnacle West Capital by 37.4% during the 3rd quarter. Gotham Asset Management LLC now owns 367,950 shares of the utilities provider’s stock valued at $32,990,000 after acquiring an additional 100,120 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Pinnacle West Capital by 6.3% during the 3rd quarter. First Trust Advisors LP now owns 1,307,421 shares of the utilities provider’s stock valued at $117,223,000 after acquiring an additional 76,930 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

PNW has been the subject of a number of research analyst reports. Weiss Ratings upgraded 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 $92.00 price target on Pinnacle West Capital in a research report on Thursday, May 21st. TD Cowen lifted their price target 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. Citigroup lifted their price target on Pinnacle West Capital from $100.00 to $109.00 and gave the company a “neutral” rating in a research report on Thursday, February 26th. Finally, BMO Capital Markets lifted their price target on Pinnacle West Capital from $98.00 to $107.00 and gave the company a “market perform” rating in a research report on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, Pinnacle West Capital has an average rating of “Hold” and a consensus price target of $102.50.

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 value of $650,133.00. Following the completion of the sale, the executive vice president owned 6,634 shares of the company’s stock, valued at $656,766. This represents a 49.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Pinnacle West Capital Stock Up 0.1%

Shares of PNW opened at $99.84 on Monday. The firm has a market cap of $12.10 billion, a P/E ratio of 18.59, a P/E/G ratio of 3.65 and a beta of 0.44. The stock has a 50 day simple moving average of $101.31 and a two-hundred day simple moving average of $95.91. 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 Corporation has a 1 year low of $85.32 and a 1 year high of $104.92.

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

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 4th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $3.64 annualized dividend and a yield of 3.6%. Pinnacle West Capital’s dividend payout ratio is currently 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.