Pictet Asset Management Holding SA Sells 99,154 Shares of Pinnacle West Capital Corporation $PNW

Pictet Asset Management Holding SA lessened its position in Pinnacle West Capital Corporation (NYSE:PNW) by 6.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,417,306 shares of the utilities provider’s stock after selling 99,154 shares during the period. Pictet Asset Management Holding SA’s holdings in Pinnacle West Capital were worth $142,794,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Pinnacle West Capital in the fourth quarter valued at approximately $140,468,000. ATLAS Infrastructure Partners UK Ltd. boosted its position in Pinnacle West Capital by 44.3% during the 4th quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,461,243 shares of the utilities provider’s stock worth $395,712,000 after buying an additional 1,369,350 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Pinnacle West Capital during the 4th quarter worth approximately $68,008,000. Capital Research Global Investors grew its holdings in Pinnacle West Capital by 5.0% during the 3rd 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 last quarter. Finally, Wellington Management Group LLP bought a new stake in Pinnacle West Capital during the 4th quarter worth approximately $57,379,000. 91.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the completion of the sale, the executive vice president directly owned 6,634 shares in the company, valued at approximately $656,766. This trade represents a 49.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Pinnacle West Capital Price Performance

Pinnacle West Capital stock opened at $108.08 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.39 and a current ratio of 0.60. Pinnacle West Capital Corporation has a 52-week low of $85.32 and a 52-week high of $108.37. The firm has a 50 day moving average price of $101.97 and a two-hundred day moving average price of $97.83. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 3.95 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data 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 company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the firm posted ($0.04) EPS. The company’s quarterly revenue 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. Equities analysts predict that Pinnacle West Capital Corporation will post 4.71 EPS for the current year.

Pinnacle West Capital Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PNW. TD Cowen upped their price target on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a research report on Friday, May 15th. Barclays lifted their price target on shares of Pinnacle West Capital from $101.00 to $102.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Weiss Ratings upgraded Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Wells Fargo & Company set a $106.00 target price on Pinnacle West Capital in a research report on Tuesday, April 21st. Finally, Argus lifted their target price on Pinnacle West Capital from $95.00 to $106.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. 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, the company presently has an average rating of “Hold” and an average price target of $102.71.

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.