Jacob Tetlow Sells 6,567 Shares of Pinnacle West Capital (NYSE:PNW) Stock

Pinnacle West Capital Corporation (NYSE:PNW) EVP Jacob Tetlow sold 6,567 shares of the business’s 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 transaction, the executive vice president owned 6,634 shares in the company, valued at approximately $656,766. This trade 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 is accessible through this hyperlink.

Pinnacle West Capital Trading Down 1.3%

Shares of Pinnacle West Capital stock opened at $98.46 on Friday. Pinnacle West Capital Corporation has a 52-week low of $85.32 and a 52-week high of $104.92. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.38. The company’s 50-day simple moving average is $101.32 and its 200-day simple moving average is $94.97. The firm has a market cap of $11.93 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 3.66 and a beta of 0.46.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business posted ($0.04) earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, equities research analysts anticipate that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current year.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 4th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, May 4th. Pinnacle West Capital’s payout ratio is 67.78%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors grew its position in Pinnacle West Capital by 5.0% during 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 buying an additional 758,190 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in Pinnacle West Capital by 8.5% during 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 buying an additional 568,581 shares during the period. ATLAS Infrastructure Partners UK Ltd. grew its position in Pinnacle West Capital by 44.3% during the fourth 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. Invesco Ltd. grew its position in Pinnacle West Capital by 1.8% during the fourth quarter. Invesco Ltd. now owns 4,249,267 shares of the utilities provider’s stock worth $376,910,000 after buying an additional 74,023 shares during the period. Finally, Geode Capital Management LLC grew 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 worth $274,117,000 after buying an additional 27,861 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. BMO Capital Markets boosted their price target on shares of Pinnacle West Capital from $98.00 to $107.00 and gave the stock a “market perform” rating in a research note on Thursday, February 26th. Wells Fargo & Company set a $106.00 price target on shares of Pinnacle West Capital in a research note on Tuesday, April 21st. Citigroup upped their target price on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Morgan Stanley lowered their target price on shares of Pinnacle West Capital from $99.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. Finally, Weiss Ratings upgraded shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $103.14.

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.