Pinnacle West Capital (NYSE:PNW) EVP Jacob Tetlow Sells 6,567 Shares

Pinnacle West Capital Corporation (NYSE:PNW) EVP Jacob Tetlow sold 6,567 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total value of $650,133.00. Following the completion of the sale, the executive vice president owned 6,634 shares of the company’s stock, valued at $656,766. The trade was a 49.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Pinnacle West Capital Stock Up 0.6%

PNW opened at $99.68 on Friday. The firm has a 50-day simple moving average of $101.41 and a two-hundred day simple moving average of $94.95. Pinnacle West Capital Corporation has a 52 week low of $85.32 and a 52 week high of $104.92. The company has a market capitalization of $12.08 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 3.63 and a beta of 0.46. 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 (NYSE:PNW) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm earned ($0.04) EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Analysts forecast that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 4th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, May 4th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.7%. Pinnacle West Capital’s dividend payout ratio (DPR) is 67.78%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PNW. Wall Street Zen raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. TD Cowen raised their target price on shares of Pinnacle West Capital from $97.00 to $100.00 and gave the stock a “hold” rating in a research report on Thursday, February 26th. Truist Financial began coverage on shares of Pinnacle West Capital in a research report on Monday, April 20th. They set a “hold” rating and a $108.00 target price on the stock. Argus raised 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, Stifel Nicolaus set a $107.00 price objective on shares of Pinnacle West Capital in a report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $103.07.

Institutional Investors Weigh In On Pinnacle West Capital

A number of large investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in Pinnacle West Capital during the fourth quarter valued at $140,468,000. ATLAS Infrastructure Partners UK Ltd. lifted its position in Pinnacle West Capital by 44.3% during the fourth quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock valued at $395,712,000 after purchasing an additional 1,369,350 shares during the period. Balyasny Asset Management L.P. acquired a new position in Pinnacle West Capital during the fourth quarter valued at $68,008,000. Capital Research Global Investors lifted its position in Pinnacle West Capital by 5.0% during the third quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider’s stock valued at $1,421,407,000 after purchasing an additional 758,190 shares during the period. Finally, Wellington Management Group LLP acquired a new position in Pinnacle West Capital during the fourth quarter valued at $57,379,000. 91.51% of the stock is owned by hedge funds and other institutional investors.

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.