AlphaQuest LLC Boosts Stake in Pinnacle West Capital Corporation $PNW

Key Points

• AlphaQuest LLC increased its stake in Pinnacle West Capital by 72.1% in the fourth quarter, adding 18,657 shares to bring its total holding to 44,534 shares worth about $3.95 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding about 91.51% of Pinnacle West Capital shares; meanwhile, EVP Jacob Tetlow sold 6,567 shares in a recent insider transaction.
• Pinnacle West reported better-than-expected quarterly results, posting EPS of $0.27 versus estimates for a loss, while revenue rose 11.4% year over year to $1.15 billion. The company also declared a $0.91 quarterly dividend, yielding about 3.5% annually.

AlphaQuest LLC grew its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 72.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,534 shares of the utilities provider's stock after acquiring an additional 18,657 shares during the period. AlphaQuest LLC's holdings in Pinnacle West Capital were worth $3,950,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Research Global Investors raised its holdings in Pinnacle West Capital by 5.0% in the third quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider's stock valued at $1,421,407,000 after acquiring an additional 758,190 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of 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 purchasing an additional 568,581 shares during the last quarter. Reaves W H & Co. Inc. lifted its position in shares of Pinnacle West Capital by 21.3% during the third quarter. Reaves W H & Co. Inc. now owns 1,804,114 shares of the utilities provider's stock worth $161,757,000 after purchasing an additional 316,193 shares during the last quarter. First Trust Advisors LP grew its stake in Pinnacle West Capital by 6.3% in the third quarter. First Trust Advisors LP now owns 1,307,421 shares of the utilities provider's stock worth $117,223,000 after purchasing an additional 76,930 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Pinnacle West Capital by 9.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,265,651 shares of the utilities provider's stock worth $113,466,000 after purchasing an additional 113,585 shares in the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Jacob Tetlow sold 6,567 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president owned 6,634 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Truist Financial initiated coverage on Pinnacle West Capital in a research note on Monday, April 20th. They set a "hold" rating and a $108.00 price objective on the stock. Barclays lifted their target price on Pinnacle West Capital from $101.00 to $102.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 5th. Stifel Nicolaus set a $107.00 price target on Pinnacle West Capital in a research report on Thursday, February 26th. Citigroup raised their price objective on 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, Argus lifted their price objective on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the stock a "buy" rating in a report on Tuesday, April 14th. Three equities 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, Pinnacle West Capital currently has a consensus rating of "Hold" and a consensus target price of $102.71.

Pinnacle West Capital Stock Performance

Shares of PNW stock opened at $103.01 on Tuesday. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $104.92. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. The firm has a market capitalization of $12.48 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 3.77 and a beta of 0.46. The business has a 50 day simple moving average of $101.38 and a 200 day simple moving average of $95.52.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced 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. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, equities research analysts anticipate that Pinnacle West Capital Corporation will post 4.7 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 4th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, May 4th. Pinnacle West Capital's dividend payout ratio is currently 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.

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