Pictet Asset Management Holding SA Sells 150,029 Shares of Pinnacle West Capital Corporation $PNW

Key Points

• Pictet Asset Management sold 150,029 shares of Pinnacle West (a 9.0% reduction), leaving it with 1,516,460 shares—about 1.27% of the company valued at roughly $134.5 million.
• Pinnacle West declared a quarterly dividend of $0.91 per share (annualized $3.64) for a ~3.5% yield, with shareholders of record on May 4 and payment on June 1.
• The company beat quarterly EPS estimates ($0.13 vs. $0.05 expected), set FY2026 guidance of $4.55–$4.75 EPS, but the analyst consensus remains a "Hold" with an average target of $103.00.

Pictet Asset Management Holding SA reduced its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,516,460 shares of the utilities provider's stock after selling 150,029 shares during the quarter. Pictet Asset Management Holding SA owned 1.27% of Pinnacle West Capital worth $134,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CYBER HORNET ETFs LLC bought a new position in shares of Pinnacle West Capital during the second quarter valued at $27,000. Bayforest Capital Ltd bought a new stake in shares of Pinnacle West Capital in the third quarter worth $29,000. Quent Capital LLC bought a new stake in shares of Pinnacle West Capital in the third quarter worth $30,000. MUFG Securities EMEA plc bought a new stake in shares of Pinnacle West Capital in the second quarter worth $32,000. Finally, CoreCap Advisors LLC grew its holdings in shares of Pinnacle West Capital by 103.6% in the third quarter. CoreCap Advisors LLC now owns 397 shares of the utilities provider's stock worth $36,000 after acquiring an additional 202 shares during the period. 91.51% of the stock is owned by institutional investors.

Pinnacle West Capital Stock Performance

Shares of PNW opened at $102.55 on Tuesday. The business has a fifty day moving average of $101.17 and a 200 day moving average of $94.34. Pinnacle West Capital Corporation has a one year low of $85.32 and a one year high of $104.92. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.54 and a quick ratio of 0.36. The firm has a market capitalization of $12.41 billion, a P/E ratio of 20.27, a PEG ratio of 3.75 and a beta of 0.49.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly earnings results 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 return on equity of 8.82% and a net margin of 11.55%.The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the company posted ($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, sell-side 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 declared 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 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, May 4th. Pinnacle West Capital's payout ratio is currently 71.94%.

Analysts Set New Price Targets

Several analysts recently commented on PNW shares. Citigroup lifted their price objective on Pinnacle West Capital from $100.00 to $109.00 and gave the stock a "neutral" rating in a report on Thursday, February 26th. TD Cowen lifted their price objective on Pinnacle West Capital from $97.00 to $100.00 and gave the stock a "hold" rating in a report on Thursday, February 26th. Argus lifted their price objective on Pinnacle West Capital from $95.00 to $106.00 and gave the stock a "buy" rating in a report on Tuesday, April 14th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $103.00 price objective on shares of Pinnacle West Capital in a report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pinnacle West Capital in a report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, Pinnacle West Capital presently 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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