Gotham Asset Management LLC Grows Holdings in Pinnacle West Capital Corporation $PNW

Gotham Asset Management LLC grew its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 37.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 504,112 shares of the utilities provider’s stock after acquiring an additional 136,162 shares during the period. Gotham Asset Management LLC’s holdings in Pinnacle West Capital were worth $44,715,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CYBER HORNET ETFs LLC purchased a new stake in shares of Pinnacle West Capital in the 2nd quarter valued at approximately $27,000. MUFG Securities EMEA plc purchased a new stake in shares of Pinnacle West Capital in the 2nd quarter valued at approximately $32,000. Clearstead Advisors LLC raised its stake in shares of Pinnacle West Capital by 88.5% in the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 185 shares during the period. Dorato Capital Management purchased a new stake in shares of Pinnacle West Capital in the 4th quarter valued at approximately $69,000. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Pinnacle West Capital by 102.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 966 shares of the utilities provider’s stock valued at $87,000 after acquiring an additional 488 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

Pinnacle West Capital Trading Down 1.5%

NYSE PNW opened at $102.32 on Thursday. 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 $105.08. The stock has a market capitalization of $12.40 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 3.80 and a beta of 0.44. The firm has a 50 day moving average of $101.76 and a two-hundred day moving average of $97.04.

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

Pinnacle West Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 4th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, May 4th. Pinnacle West Capital’s payout ratio is 67.78%.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the business’s 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 owned 6,634 shares in the company, valued at $656,766. The trade was a 49.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PNW shares. Morgan Stanley set a $92.00 price target on shares of Pinnacle West Capital in a research note on Thursday, May 21st. TD Cowen boosted their price target on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a research note on Friday, May 15th. Truist Financial reduced their price target on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating on the stock in a research note on Friday, May 29th. Barclays boosted their price target on shares of Pinnacle West Capital from $101.00 to $102.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company set a $106.00 price objective on shares of Pinnacle West Capital in a report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $102.50.

Pinnacle West Capital 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.