LSV Asset Management Raises Stake in Pinnacle West Capital Corporation $PNW

LSV Asset Management raised its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 46.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 135,710 shares of the utilities provider’s stock after acquiring an additional 43,000 shares during the quarter. LSV Asset Management’s holdings in Pinnacle West Capital were worth $12,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Capital Research Global Investors lifted its holdings in shares of Pinnacle West Capital by 5.0% in the third quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider’s stock worth $1,421,407,000 after buying an additional 758,190 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position 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 worth $647,679,000 after purchasing an additional 568,581 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Pinnacle West Capital by 133.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 920,687 shares of the utilities provider’s stock worth $81,665,000 after purchasing an additional 526,212 shares during the last quarter. Reaves W H & Co. Inc. increased its position in shares of Pinnacle West Capital by 21.3% in the third quarter. Reaves W H & Co. Inc. now owns 1,804,114 shares of the utilities provider’s stock worth $161,757,000 after purchasing an additional 316,193 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in Pinnacle West Capital by 458.3% during the third quarter. Qube Research & Technologies Ltd now owns 296,963 shares of the utilities provider’s stock valued at $26,626,000 after acquiring an additional 243,769 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the company’s stock in a transaction 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on PNW shares. Wall Street Zen upgraded shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. BMO Capital Markets raised their price objective 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. Barclays raised their price objective on Pinnacle West Capital from $101.00 to $102.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Citigroup lifted their price objective 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, Truist Financial started coverage on Pinnacle West Capital in a research note on Monday, April 20th. They set a “hold” rating and a $108.00 price target for the company. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $102.71.

Pinnacle West Capital Stock Up 0.1%

NYSE PNW opened at $103.01 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. Pinnacle West Capital Corporation has a 12 month low of $85.32 and a 12 month high of $104.92. The stock’s 50 day moving average is $101.38 and its 200 day moving average is $95.52. The stock has a market cap of $12.48 billion, a PE ratio of 19.18, a P/E/G ratio of 3.77 and a beta of 0.46.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company posted ($0.04) EPS. The company’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. Research analysts predict that Pinnacle West Capital Corporation will post 4.7 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 4th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, May 4th. This represents a $3.64 annualized dividend and a dividend yield of 3.5%. Pinnacle West Capital’s 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.