Harvest Portfolios Group Inc. Has $8.91 Million Stake in Pinnacle West Capital Corporation $PNW

Harvest Portfolios Group Inc. grew its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 22.2% in the third quarter, HoldingsChannel.com reports. The fund owned 99,333 shares of the utilities provider’s stock after acquiring an additional 18,049 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Pinnacle West Capital were worth $8,906,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNW. AE Wealth Management LLC increased its stake in shares of Pinnacle West Capital by 4,666.1% in the 2nd quarter. AE Wealth Management LLC now owns 139,599 shares of the utilities provider’s stock valued at $12,490,000 after acquiring an additional 136,670 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in Pinnacle West Capital in the third quarter valued at $16,292,000. Y Intercept Hong Kong Ltd raised its holdings in shares of Pinnacle West Capital by 164.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 44,748 shares of the utilities provider’s stock valued at $4,012,000 after purchasing an additional 27,832 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Pinnacle West Capital by 556.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,208 shares of the utilities provider’s stock valued at $1,633,000 after buying an additional 15,434 shares during the period. Finally, Rakuten Investment Management Inc. bought a new stake in Pinnacle West Capital in the 3rd quarter valued at about $2,234,000. 91.51% of the stock is owned by institutional investors and hedge funds.

Pinnacle West Capital Stock Up 0.7%

Shares of NYSE:PNW opened at $100.26 on Friday. Pinnacle West Capital Corporation has a 1 year low of $85.32 and a 1 year high of $101.13. The company has a market capitalization of $12.12 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 5.99 and a beta of 0.54. The business has a fifty day moving average price of $93.19 and a two-hundred day moving average price of $90.72. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.67 and a quick ratio of 0.49.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Wednesday, February 25th. The utilities provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.17 billion. Pinnacle West Capital had a net margin of 11.55% and a return on equity of 8.86%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.06) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Analysts forecast that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 2nd will be 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 of this dividend is Monday, February 2nd. Pinnacle West Capital’s dividend payout ratio is 74.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. KeyCorp cut Pinnacle West Capital from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 12th. BMO Capital Markets lifted their price target on shares of Pinnacle West Capital from $98.00 to $107.00 and gave the company a “market perform” rating in a research report on Thursday. Citigroup boosted their price target on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday. Zacks Research raised shares of Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 price target on shares of Pinnacle West Capital in a research report on Tuesday, November 4th. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $100.08.

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.