Fox Run Management L.L.C. Buys New Shares in Pinnacle West Capital Corporation $PNW

Key Points

• Fox Run Management opened a new position in Pinnacle West Capital, buying 20,165 shares worth about $1.79 million in the fourth quarter.
• Pinnacle West reported better-than-expected earnings for the quarter, posting $0.27 EPS versus a $0.03 loss expected, while revenue rose 11.4% year over year to $1.15 billion.
• The utility also maintained a quarterly dividend of $0.91 per share, equal to an annualized yield of about 3.6%, even as analysts largely remain at Hold with a consensus price target of $102.50.

Fox Run Management L.L.C. bought a new stake in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,165 shares of the utilities provider's stock, valued at approximately $1,789,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PNW. Norges Bank bought a new position in shares of Pinnacle West Capital during the 4th quarter valued at $140,468,000. Capital Research Global Investors grew its holdings in shares of Pinnacle West Capital by 5.0% during the 3rd quarter. Capital Research Global Investors now owns 15,853,302 shares of the utilities provider's stock valued at $1,421,407,000 after purchasing an additional 758,190 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Pinnacle West Capital by 8.5% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,223,725 shares of the utilities provider's stock valued at $647,679,000 after purchasing an additional 568,581 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Pinnacle West Capital by 133.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 920,687 shares of the utilities provider's stock valued at $81,665,000 after purchasing an additional 526,212 shares during the last quarter. Finally, Reaves W H & Co. Inc. grew its holdings in shares of Pinnacle West Capital by 21.3% during the 3rd quarter. Reaves W H & Co. Inc. now owns 1,804,114 shares of the utilities provider's stock valued at $161,757,000 after purchasing an additional 316,193 shares during the last quarter. Institutional investors own 91.51% of the company's stock.

Insider Activity at Pinnacle West Capital

In other news, EVP Jacob Tetlow sold 6,567 shares of the firm'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 completion of the sale, the executive vice president directly owned 6,634 shares of the company's stock, valued at approximately $656,766. This trade represents a 49.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company's stock.

Pinnacle West Capital Trading Down 1.6%

Shares of PNW opened at $101.39 on Tuesday. The stock has a market capitalization of $12.29 billion, a P/E ratio of 18.88, a PEG ratio of 3.77 and a beta of 0.44. 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 firm has a fifty day simple moving average of $101.55 and a two-hundred day simple moving average of $96.38. Pinnacle West Capital Corporation has a twelve month low of $85.32 and a twelve month high of $104.92.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same period last year, the company posted ($0.04) EPS. The company's quarterly 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. On average, 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 was paid on Monday, June 1st. Stockholders of record on Monday, May 4th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, May 4th. Pinnacle West Capital's dividend payout ratio (DPR) is currently 67.78%.

Analyst Upgrades and Downgrades

PNW has been the subject of several analyst reports. Citigroup increased their price target on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the company a "neutral" rating in a research report on Thursday, February 26th. Barclays increased their price target on shares of Pinnacle West Capital from $101.00 to $102.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 5th. Stifel Nicolaus set a $107.00 price target on shares of Pinnacle West Capital in a research report on Thursday, February 26th. Wells Fargo & Company set a $106.00 price target on shares of Pinnacle West Capital in a research report on Tuesday, April 21st. Finally, Truist Financial dropped their price target on shares of Pinnacle West Capital from $108.00 to $105.00 and set a "hold" rating for the company in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $102.50.

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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