Aigen Investment Management LP Reduces Position in Pinnacle West Capital Corporation $PNW

Key Points

• Aigen Investment Management cut its Pinnacle West Capital stake by 78.5% in the fourth quarter, leaving it with 5,735 shares valued at about $509,000.
• Analysts remain cautious overall: Pinnacle West has a consensus Hold rating, with 3 Buy ratings and 12 Hold ratings, and an average price target of $102.50.
• The company reported better-than-expected Q1 results, earning $0.27 per share versus estimates for a loss, while revenue rose 11.4% year over year to $1.15 billion; it also pays a quarterly dividend of $0.91 per share, yielding about 3.5%.

Aigen Investment Management LP lessened its position in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 78.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,735 shares of the utilities provider's stock after selling 20,989 shares during the quarter. Aigen Investment Management LP's holdings in Pinnacle West Capital were worth $509,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PNW. CYBER HORNET ETFs LLC purchased a new position in Pinnacle West Capital during the 2nd quarter worth approximately $27,000. MUFG Securities EMEA plc purchased a new position in shares of Pinnacle West Capital in the 2nd quarter valued at approximately $32,000. Clearstead Advisors LLC grew its stake in shares of Pinnacle West Capital by 88.5% in the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 185 shares during the last quarter. Dorato Capital Management purchased a new position in shares of Pinnacle West Capital in the 4th quarter valued at approximately $69,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Pinnacle West Capital by 102.1% in 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 last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PNW. Stifel Nicolaus set a $107.00 target price on Pinnacle West Capital in a research note on Thursday, February 26th. TD Cowen lifted their target price on Pinnacle West Capital from $100.00 to $101.00 and gave the company a "hold" rating in a research note on Friday, May 15th. Argus lifted their target price on Pinnacle West Capital from $95.00 to $106.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Barclays lifted their target price on Pinnacle West Capital from $101.00 to $102.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 5th. Finally, Morgan Stanley set a $92.00 price target on Pinnacle West Capital in a research note on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $102.50.

Insider Transactions at Pinnacle West Capital

In related news, EVP Jacob Tetlow sold 6,567 shares of Pinnacle West Capital stock in a transaction on 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 transaction, the executive vice president directly owned 6,634 shares of the company's stock, valued at approximately $656,766. The trade was a 49.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company's stock.

Pinnacle West Capital Stock Down 0.2%

Pinnacle West Capital stock opened at $103.26 on Tuesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. 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 $12.51 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 3.79 and a beta of 0.44. The stock's 50 day moving average price is $101.74 and its 200 day moving average price is $96.87.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.30. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the business earned ($0.04) earnings per share. The company's revenue for the quarter 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. On average, sell-side analysts predict that Pinnacle West Capital Corporation will post 4.7 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 4th were issued 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 3.5%. 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.

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