Fortem Financial Group LLC Acquires 7,511 Shares of Pinnacle West Capital Corporation $PNW

Fortem Financial Group LLC grew its holdings in Pinnacle West Capital Corporation (NYSE:PNW) by 38.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 26,887 shares of the utilities provider’s stock after buying an additional 7,511 shares during the quarter. Fortem Financial Group LLC’s holdings in Pinnacle West Capital were worth $2,709,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. CYBER HORNET ETFs LLC bought a new position in shares of Pinnacle West Capital during the second quarter valued at approximately $27,000. MUFG Securities EMEA plc purchased a new stake in Pinnacle West Capital in the second quarter worth $32,000. Clearstead Advisors LLC boosted its holdings in Pinnacle West Capital by 88.5% in the fourth quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 185 shares in the last quarter. Dorato Capital Management bought a new stake in Pinnacle West Capital in the fourth quarter valued at $69,000. Finally, Brown Brothers Harriman & Co. increased its position in Pinnacle West Capital by 102.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 966 shares of the utilities provider’s stock valued at $87,000 after purchasing an additional 488 shares during the period. 91.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. TD Cowen upped their price objective on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a report on Friday, May 15th. Weiss Ratings raised shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Morgan Stanley set a $92.00 price target on shares of Pinnacle West Capital in a research report on Thursday, May 21st. Citigroup increased their price target on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Finally, Truist Financial lowered their price objective on shares of Pinnacle West Capital from $108.00 to $105.00 and set a “hold” rating for the company in a report on Friday, May 29th. 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 company currently has an average rating of “Hold” and a consensus price target of $102.50.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total value of $650,133.00. Following the sale, the executive vice president owned 6,634 shares in the company, valued at approximately $656,766. This represents a 49.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Pinnacle West Capital Price Performance

PNW opened at $102.29 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 3.75 and a beta of 0.44. The stock has a fifty day simple moving average of $101.75 and a two-hundred day simple moving average of $97.16. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $105.08.

Pinnacle West Capital (NYSE:PNW) last announced its 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. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.04) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. Research analysts predict that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 4th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $3.64 annualized dividend and a yield of 3.6%. Pinnacle West Capital’s payout ratio is presently 67.78%.

Pinnacle West Capital 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.