BNP Paribas Financial Markets Has $19.70 Million Stock Position in Pinnacle West Capital Corporation $PNW

BNP Paribas Financial Markets boosted its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 79.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 222,040 shares of the utilities provider’s stock after buying an additional 98,650 shares during the period. BNP Paribas Financial Markets’ holdings in Pinnacle West Capital were worth $19,695,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PNW. Norges Bank acquired a new position in Pinnacle West Capital in the 4th quarter valued at about $140,468,000. Capital Research Global Investors grew its stake in Pinnacle West Capital by 5.0% in the 3rd quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider’s stock valued at $1,421,407,000 after buying an additional 758,190 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Pinnacle West Capital by 8.5% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock valued at $647,679,000 after purchasing an additional 568,581 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Pinnacle West Capital by 133.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 920,687 shares of the utilities provider’s stock valued at $81,665,000 after purchasing an additional 526,212 shares during the period. Finally, Reaves W H & Co. Inc. boosted its holdings in Pinnacle West Capital by 21.3% in the 3rd quarter. Reaves W H & Co. Inc. now owns 1,804,114 shares of the utilities provider’s stock valued at $161,757,000 after purchasing an additional 316,193 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $103.16 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $12.50 billion, a P/E ratio of 19.21, a P/E/G ratio of 3.68 and a beta of 0.44. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $104.92. The firm has a 50-day moving average price of $101.49 and a two-hundred day moving average price of $96.25.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly 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 for the quarter, compared to analyst estimates of $1.08 billion. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Analysts anticipate that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 4th were given a dividend of $0.91 per share. The ex-dividend date was Monday, May 4th. This represents a $3.64 annualized dividend and a dividend yield of 3.5%. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 67.78%.

Wall Street Analyst Weigh In

PNW has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Pinnacle West Capital from $101.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. BMO Capital Markets boosted their price objective on shares of Pinnacle West Capital from $98.00 to $107.00 and gave the company a “market perform” rating in a report on Thursday, February 26th. Wells Fargo & Company set a $106.00 price objective on shares of Pinnacle West Capital in a report on Tuesday, April 21st. TD Cowen boosted their price objective on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a report on Friday, May 15th. Finally, Argus boosted their price objective on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $102.50.

Insider Activity

In related news, EVP Jacob Tetlow sold 6,567 shares of the 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 sale, the executive vice president owned 6,634 shares in the company, valued at approximately $656,766. This trade represents a 49.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

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.