Pictet Asset Management Holding SA Has $142.79 Million Position in Pinnacle West Capital Corporation $PNW

Pictet Asset Management Holding SA lessened its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,417,306 shares of the utilities provider’s stock after selling 99,154 shares during the quarter. Pictet Asset Management Holding SA owned 1.17% of Pinnacle West Capital worth $142,794,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Aaron Wealth Advisors LLC bought a new stake in Pinnacle West Capital in the 1st quarter valued at about $406,000. Louisiana State Employees Retirement System bought a new position in shares of Pinnacle West Capital during the first quarter worth approximately $615,000. Friedenthal Financial bought a new position in shares of Pinnacle West Capital during the first quarter worth approximately $98,000. Assenagon Asset Management S.A. raised its position in shares of Pinnacle West Capital by 8.2% in the first quarter. Assenagon Asset Management S.A. now owns 996,153 shares of the utilities provider’s stock valued at $100,362,000 after buying an additional 75,466 shares in the last quarter. Finally, Centennial Wealth Advisory LLC raised its position in shares of Pinnacle West Capital by 11.4% in the first quarter. Centennial Wealth Advisory LLC now owns 6,132 shares of the utilities provider’s stock valued at $618,000 after buying an additional 627 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on PNW shares. Argus upped their target price on Pinnacle West Capital from $95.00 to $106.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. TD Cowen raised their price target on Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a research report on Friday, May 15th. Wells Fargo & Company set a $106.00 price target on Pinnacle West Capital in a research note on Tuesday, April 21st. Morgan Stanley set a $95.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday. Finally, Truist Financial decreased their target price on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Three equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $102.71.

Pinnacle West Capital Stock Performance

NYSE:PNW opened at $108.08 on Monday. The stock’s 50-day simple moving average is $101.97 and its 200 day simple moving average is $97.83. The firm has a market capitalization of $13.10 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 3.95 and a beta of 0.44. 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 twelve month low of $85.32 and a twelve month high of $108.37.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.30. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.04) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, analysts anticipate that Pinnacle West Capital Corporation will post 4.71 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio is currently 67.78%.

Insider Transactions at Pinnacle West Capital

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 value of $650,133.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by corporate 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.