Jefferies Financial Group Inc. Makes New $4.37 Million Investment in Pinnacle West Capital Corporation $PNW

Key Points

• Jefferies Financial Group disclosed a new fourth-quarter position in Pinnacle West Capital, buying 49,314 shares valued at about $4.37 million.
• Several other institutional investors also increased their holdings, and institutions now own 91.51% of the utility company’s stock.
• Pinnacle West Capital reported stronger-than-expected quarterly results, raised its dividend to $0.91 per share, and analysts currently have a Hold consensus with an average target price of $102.71.

Jefferies Financial Group Inc. purchased a new position in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 49,314 shares of the utilities provider's stock, valued at approximately $4,374,000.

Several other hedge funds have also made changes to their positions in PNW. Capital Research Global Investors increased its position in Pinnacle West Capital by 5.0% in 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 acquiring an additional 758,190 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position 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 period. Assenagon Asset Management S.A. boosted its stake 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 worth $81,665,000 after acquiring an additional 526,212 shares in the last quarter. Reaves W H & Co. Inc. boosted its stake 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 worth $161,757,000 after acquiring an additional 316,193 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Pinnacle West Capital by 458.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 296,963 shares of the utilities provider's stock worth $26,626,000 after acquiring an additional 243,769 shares in 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 business's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total value of $650,133.00. Following the sale, the executive vice president directly owned 6,634 shares in the company, 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 SEC, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PNW has been the subject of several recent analyst reports. Morgan Stanley set a $92.00 target price on Pinnacle West Capital in a research report on Thursday. Barclays lifted their price objective on 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. TD Cowen raised their target price on Pinnacle West Capital from $100.00 to $101.00 and gave the company a "hold" rating in a report on Friday, May 15th. BMO Capital Markets lifted their price objective on 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. Finally, Stifel Nicolaus set a $107.00 price objective on Pinnacle West Capital in a research note on Thursday, February 26th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Pinnacle West Capital presently has an average rating of "Hold" and a consensus target price of $102.71.

Pinnacle West Capital Stock Up 0.1%

NYSE:PNW opened at $103.01 on Tuesday. The stock's fifty day moving average price is $101.38 and its two-hundred day moving average price is $95.52. Pinnacle West Capital Corporation has a 52-week low of $85.32 and a 52-week high of $104.92. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.39 and a current ratio of 0.60. The company has a market cap of $12.48 billion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 3.77 and a beta of 0.46.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.30. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 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 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) EPS. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, analysts anticipate that Pinnacle West Capital Corporation will post 4.7 EPS for the current year.

Pinnacle West Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 4th will be issued a dividend of $0.91 per share. 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 67.78%.

About Pinnacle West Capital

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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