Jennison Associates LLC Cuts Stock Position in Pinnacle West Capital Corporation $PNW

Jennison Associates LLC cut its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 3.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 218,930 shares of the utilities provider’s stock after selling 7,123 shares during the quarter. Jennison Associates LLC owned approximately 0.18% of Pinnacle West Capital worth $23,426,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PNW. JFS Wealth Advisors LLC boosted its stake in Pinnacle West Capital by 109.6% in the second quarter. JFS Wealth Advisors LLC now owns 241 shares of the utilities provider’s stock worth $26,000 after buying an additional 126 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of Pinnacle West Capital during the second quarter worth approximately $27,000. MUFG Securities EMEA plc purchased a new position in shares of Pinnacle West Capital during the second quarter worth approximately $32,000. Clearstead Advisors LLC raised its stake in shares of Pinnacle West Capital by 88.5% during the fourth quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 185 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Pinnacle West Capital by 55.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 827 shares of the utilities provider’s stock worth $83,000 after acquiring an additional 295 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $129.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, July 8th. TD Cowen reiterated a “hold” rating on shares of Pinnacle West Capital in a research report on Wednesday. Barclays boosted their price target on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 1st. BMO Capital Markets cut their price target on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pinnacle West Capital in a research note on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, Pinnacle West Capital presently has a consensus rating of “Hold” and an average price target of $104.07.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $101.39 on Friday. The company has a market capitalization of $12.29 billion, a P/E ratio of 19.42, a PEG ratio of 3.69 and a beta of 0.44. Pinnacle West Capital Corporation has a fifty-two week low of $85.32 and a fifty-two week high of $111.16. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.41 and a current ratio of 0.59. The stock has a 50 day moving average price of $104.54 and a two-hundred day moving average price of $101.57.

Pinnacle West Capital (NYSE:PNW) last issued its earnings results on Tuesday, August 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.03). Pinnacle West Capital had a return on equity of 8.99% and a net margin of 11.52%.The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the business posted $1.58 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Analysts expect that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

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 issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 3rd. Pinnacle West Capital’s dividend payout ratio (DPR) is 69.73%.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, SVP Jose Luis Esparza, Jr. sold 1,800 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $102.01, for a total value of $183,618.00. Following the transaction, the senior vice president owned 4,910 shares in the company, valued at approximately $500,869.10. The trade was a 26.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Elizabeth A. Blankenship sold 980 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $99.17, for a total transaction of $97,186.60. Following the transaction, the chief accounting officer directly owned 10,886 shares of the company’s stock, valued at approximately $1,079,564.62. This trade represents a 8.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.19% of the stock is currently owned by insiders.

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.