Lazard Asset Management LLC Sells 33,688 Shares of Pinnacle West Capital Corporation $PNW

Lazard Asset Management LLC cut its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 48.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,149 shares of the utilities provider’s stock after selling 33,688 shares during the period. Lazard Asset Management LLC’s holdings in Pinnacle West Capital were worth $3,541,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CYBER HORNET ETFs LLC bought a new stake in shares of Pinnacle West Capital in the second quarter worth about $27,000. MUFG Securities EMEA plc bought a new stake in shares of Pinnacle West Capital in the 2nd quarter worth about $32,000. Clearstead Advisors LLC lifted its stake in Pinnacle West Capital by 88.5% in the fourth quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 185 shares during the last quarter. Dorato Capital Management purchased a new position in Pinnacle West Capital during the 4th quarter valued at $69,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Pinnacle West Capital by 102.1% during the third 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 during the period. 91.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNW. Wells Fargo & Company set a $106.00 price target on Pinnacle West Capital in a report on Tuesday, April 21st. Morgan Stanley set a $97.00 price target on shares of Pinnacle West Capital in a report on Wednesday, July 22nd. Wall Street Zen upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Argus boosted their target price on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Finally, TD Cowen increased their price objective on Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a report on Friday, May 15th. 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $104.07.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $100.95 on Friday. The stock has a market cap of $12.23 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 3.67 and a beta of 0.43. The business has a 50-day simple moving average of $104.57 and a 200-day simple moving average of $100.98. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.38. Pinnacle West Capital Corporation has a 52-week low of $85.32 and a 52-week high of $111.16.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.30. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, equities analysts expect that Pinnacle West Capital Corporation will post 4.74 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.6%. Pinnacle West Capital’s dividend payout ratio (DPR) is presently 67.78%.

Insider Activity at Pinnacle West Capital

In other news, EVP Jacob Tetlow sold 6,567 shares of Pinnacle West Capital stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the completion of the transaction, the executive vice president directly owned 6,634 shares of the company’s stock, valued at $656,766. The trade was a 49.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by 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.