Amundi Sells 38,490 Shares of Pinnacle West Capital Corporation $PNW

Key Points

• Amundi cut its Pinnacle West stake by 19.9% in the first quarter, selling 38,490 shares and retaining 154,737 shares valued at approximately $15.6 million. Institutional investors collectively own 91.51% of PNW.
• Pinnacle West reported quarterly EPS of $1.43, missing the $1.46 consensus estimate, while revenue rose 7.1% year over year to $1.46 billion. Management maintained its fiscal 2026 EPS guidance of $4.55–$4.75.
• The company declared a quarterly dividend of $0.91 per share, equivalent to $3.64 annually and a 3.6% yield. Analysts broadly rate the stock a Hold, with a consensus price target of $104.07.

Amundi reduced its stake in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 19.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,737 shares of the utilities provider's stock after selling 38,490 shares during the period. Amundi owned approximately 0.13% of Pinnacle West Capital worth $15,590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PNW. CYBER HORNET ETFs LLC acquired a new stake in Pinnacle West Capital in the second quarter valued at about $27,000. MUFG Securities EMEA plc bought a new stake in shares of Pinnacle West Capital in the second quarter worth $32,000. Clearstead Advisors LLC increased its stake in shares of 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 buying an additional 185 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Pinnacle West Capital by 55.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 827 shares of the utilities provider's stock worth $83,000 after purchasing an additional 295 shares during the last quarter. Finally, Root Financial Partners LLC lifted its position in shares of Pinnacle West Capital by 168.2% in the 1st quarter. Root Financial Partners LLC now owns 885 shares of the utilities provider's stock worth $89,000 after purchasing an additional 555 shares during the period. Institutional investors own 91.51% of the company's stock.

Insider Activity

In other news, EVP Jacob Tetlow sold 6,567 shares of the company'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 value 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 $656,766. This represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $101.47 on Wednesday. Pinnacle West Capital Corporation has a one year low of $85.32 and a one year high of $111.16. The company has a market cap of $12.30 billion, a PE ratio of 18.90, a P/E/G ratio of 3.66 and a beta of 0.44. The stock has a 50-day moving average of $104.50 and a 200-day moving average of $101.20. 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 (NYSE:PNW - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.03). The company had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.40 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The business's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $1.58 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, equities research analysts predict that Pinnacle West Capital Corporation will post 4.74 EPS for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 3rd will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital's payout ratio is presently 67.78%.

Trending Headlines about Pinnacle West Capital

Here are the key news stories impacting Pinnacle West Capital this week:

• Positive Sentiment: Second-quarter revenue rose 7.1% year over year to $1.46 billion, exceeding the $1.40 billion analyst consensus. Management maintained its 2026 adjusted EPS guidance of $4.55 to $4.75, broadly consistent with the $4.70 consensus estimate. Pinnacle West Q2 Earnings Miss Estimates, Revenues Increase Year over Year
• Positive Sentiment: The company’s unchanged annual outlook may reassure investors that management views the quarterly weakness as manageable rather than a deterioration in its full-year earnings trajectory.
• Neutral Sentiment: Pinnacle West entered into an agreement to sell up to $500 million of common stock through an equity distribution program. The proceeds could support capital investment and financing needs, although the timing and size of any share sales remain uncertain. Pinnacle West Capital Announces $500 Million Equity Program
• Negative Sentiment: Second-quarter EPS was $1.43, below estimates ranging from $1.46 to $1.49 and down from $1.58 a year earlier. Higher fuel, purchased-power and interest expenses offset the revenue growth, highlighting continued cost and financing pressure. Pinnacle West Q2 Earnings Lag Estimates
• Negative Sentiment: The proposed equity issuance could dilute existing shareholders if shares are sold, potentially limiting upside despite the maintained earnings forecast.

Analyst Upgrades and Downgrades

PNW has been the topic of a number of analyst reports. Truist Financial reduced their price objective on shares of Pinnacle West Capital from $108.00 to $105.00 and set a "hold" rating on the stock in a research note on Friday, May 29th. Wall Street Zen upgraded shares of Pinnacle West Capital from a "sell" rating to a "hold" rating in a report on Saturday, June 27th. Morgan Stanley set a $97.00 price target on shares of Pinnacle West Capital in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Pinnacle West Capital from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company set a $106.00 price target on Pinnacle West Capital in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Pinnacle West Capital presently has a consensus rating of "Hold" and a consensus target price of $104.07.

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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