NBC Securities Inc. Cuts Stake in Pinnacle West Capital Corporation $PNW

Key Points

• NBC Securities cut its stake in Pinnacle West by 98.0% in Q4, selling 38,901 shares and holding just 807 shares valued at $72,000, while overall institutional ownership sits around 91.51%.
• Pinnacle West beat Q4 EPS estimates ($0.13 vs. $0.05) despite slightly lower-than-expected revenue, and set FY2026 guidance of 4.55–4.75 EPS (analysts forecast ~4.7 EPS).
• The company declared a quarterly dividend of $0.91 (annualized $3.64, ~3.6% yield; ex-dividend May 4, payable June 1) and holds a MarketBeat consensus rating of "Hold" with an average target price of $103.

NBC Securities Inc. reduced its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 98.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 807 shares of the utilities provider's stock after selling 38,901 shares during the period. NBC Securities Inc.'s holdings in Pinnacle West Capital were worth $72,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PNW. Capital Research Global Investors lifted 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 worth $1,421,407,000 after acquiring an additional 758,190 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in 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 worth $647,679,000 after purchasing an additional 568,581 shares in the last quarter. Assenagon Asset Management S.A. increased its position in 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 purchasing an additional 526,212 shares in the last quarter. Reaves W H & Co. Inc. increased its position in 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 purchasing an additional 316,193 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its position in 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 purchasing an additional 243,769 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Down 1.3%

Shares of NYSE:PNW opened at $101.75 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.54 and a debt-to-equity ratio of 1.30. Pinnacle West Capital Corporation has a 52-week low of $85.32 and a 52-week high of $104.92. The company has a 50 day moving average of $101.34 and a two-hundred day moving average of $94.46. The company has a market capitalization of $12.32 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 3.75 and a beta of 0.49.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.08. Pinnacle West Capital had a net margin of 11.55% and a return on equity of 8.82%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company earned ($0.06) earnings per share. Pinnacle West Capital's revenue for the quarter was up 3.0% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, analysts forecast that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 4th will be given a $0.91 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $3.64 annualized dividend and a yield of 3.6%. Pinnacle West Capital's dividend payout ratio (DPR) is 71.94%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PNW. Stifel Nicolaus set a $107.00 target price on shares of Pinnacle West Capital in a research report on Thursday, February 26th. Weiss Ratings reissued a "buy (b)" rating on shares of Pinnacle West Capital in a research report on Thursday, January 22nd. BMO Capital Markets increased their target price on shares of Pinnacle West Capital from $98.00 to $107.00 and gave the stock a "market perform" rating in a research report on Thursday, February 26th. TD Cowen increased their target price on shares of Pinnacle West Capital from $97.00 to $100.00 and gave the stock a "hold" rating in a research report on Thursday, February 26th. Finally, Morgan Stanley dropped their target price on shares of Pinnacle West Capital from $99.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, Pinnacle West Capital currently has a consensus rating of "Hold" and an average target price of $103.00.

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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