Norges Bank Buys Shares of 1,583,634 Pinnacle West Capital Corporation $PNW

Norges Bank purchased a new position in shares of Pinnacle West Capital Corporation (NYSE:PNW) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,583,634 shares of the utilities provider’s stock, valued at approximately $140,468,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PNW. Eurizon Capital SGR S.p.A. bought a new position in Pinnacle West Capital during the fourth quarter worth $137,000. Northwestern Mutual Wealth Management Co. boosted its position in Pinnacle West Capital by 24.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 11,888 shares of the utilities provider’s stock valued at $1,054,000 after acquiring an additional 2,366 shares during the last quarter. Geode Capital Management LLC boosted its position in Pinnacle West Capital by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 3,095,691 shares of the utilities provider’s stock valued at $274,117,000 after acquiring an additional 27,861 shares during the last quarter. Arvest Bank Trust Division grew its holdings in Pinnacle West Capital by 41.1% during the 4th quarter. Arvest Bank Trust Division now owns 10,699 shares of the utilities provider’s stock worth $949,000 after acquiring an additional 3,119 shares during the period. Finally, AlphaQuest LLC raised its position in shares of Pinnacle West Capital by 72.1% in the 4th quarter. AlphaQuest LLC now owns 44,534 shares of the utilities provider’s stock worth $3,950,000 after acquiring an additional 18,657 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Insider Activity at Pinnacle West Capital

In other news, EVP Jacob Tetlow sold 6,567 shares of the stock in a transaction that occurred 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 directly owned 6,634 shares of the company’s stock, valued at $656,766. This represents a 49.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PNW shares. Truist Financial dropped their price objective on 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. Citigroup lifted their target price on Pinnacle West Capital from $100.00 to $109.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Wells Fargo & Company set a $106.00 price target on Pinnacle West Capital in a research note on Tuesday, April 21st. Wall Street Zen upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, BMO Capital Markets lifted their price objective on shares of Pinnacle West Capital from $98.00 to $107.00 and gave the company a “market perform” rating in a research note on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, Pinnacle West Capital currently has a consensus rating of “Hold” and a consensus target price of $102.50.

Pinnacle West Capital Stock Performance

PNW opened at $100.56 on Friday. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $104.92. The company has a market cap of $12.19 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 3.64 and a beta of 0.44. The company’s fifty day moving average price is $101.38 and its two-hundred day moving average price is $96.20. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38.

Pinnacle West Capital (NYSE:PNW) last posted its 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 the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted ($0.04) earnings per share. The firm’s revenue for the quarter 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. On average, analysts expect that Pinnacle West Capital Corporation will post 4.7 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, May 4th. Pinnacle West Capital’s payout ratio is currently 67.78%.

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.