Oak Thistle LLC Buys 31,690 Shares of Pinnacle West Capital Corporation $PNW

Oak Thistle LLC grew its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 251.0% in the fourth quarter, HoldingsChannel reports. The fund owned 44,316 shares of the utilities provider’s stock after acquiring an additional 31,690 shares during the period. Pinnacle West Capital accounts for 0.5% of Oak Thistle LLC’s holdings, making the stock its 12th largest position. Oak Thistle LLC’s holdings in Pinnacle West Capital were worth $3,931,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PNW. Capital Research Global Investors lifted its stake in Pinnacle West Capital by 5.0% in the third quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider’s stock worth $1,421,407,000 after acquiring an additional 758,190 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Pinnacle West Capital by 8.5% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider’s stock worth $647,679,000 after acquiring an additional 568,581 shares during the period. Assenagon Asset Management S.A. lifted its stake in Pinnacle West Capital by 133.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 920,687 shares of the utilities provider’s stock worth $81,665,000 after acquiring an additional 526,212 shares during the period. Reaves W H & Co. Inc. lifted its stake in Pinnacle West Capital by 21.3% in the third quarter. Reaves W H & Co. Inc. now owns 1,804,114 shares of the utilities provider’s stock worth $161,757,000 after acquiring an additional 316,193 shares during the period. Finally, Qube Research & Technologies Ltd lifted its stake in Pinnacle West Capital by 458.3% in the third quarter. Qube Research & Technologies Ltd now owns 296,963 shares of the utilities provider’s stock worth $26,626,000 after acquiring an additional 243,769 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Price Performance

PNW opened at $102.18 on Wednesday. The stock has a 50-day moving average price of $98.92 and a 200-day moving average price of $92.94. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.54 and a quick ratio of 0.36. The firm has a market cap of $12.35 billion, a PE ratio of 20.19, a P/E/G ratio of 3.77 and a beta of 0.49. Pinnacle West Capital Corporation has a 1 year low of $85.32 and a 1 year high of $103.97.

Pinnacle West Capital (NYSE:PNW) last issued its 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. Pinnacle West Capital had a return on equity of 8.82% and a net margin of 11.55%.The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm earned ($0.06) EPS. Pinnacle West Capital’s revenue was up 3.0% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Sell-side analysts predict that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. TD Cowen raised their price objective on Pinnacle West Capital from $97.00 to $100.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. Royal Bank Of Canada reissued a “sector perform” rating and set a $103.00 price objective on shares of Pinnacle West Capital in a research report on Friday, January 23rd. Barclays raised their price objective on Pinnacle West Capital from $97.00 to $101.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 31st. UBS Group raised their price objective on Pinnacle West Capital from $94.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 17th. Finally, Stifel Nicolaus set a $107.00 price objective on Pinnacle West Capital in a research report on Thursday, February 26th. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus price target of $100.92.

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.