Pinnacle West Capital Corporation $PNW is ATLAS Infrastructure Partners UK Ltd.'s Largest Position

Key Points

• ATLAS Infrastructure Partners UK Ltd. increased its stake in Pinnacle West Capital by 44.3% in the fourth quarter, making PNW its largest holding at 19.8% of the portfolio.
• Pinnacle West Capital reported stronger-than-expected Q1 earnings of $0.27 per share on revenue of $1.15 billion, and it raised its FY 2026 guidance to 4.55-4.75 EPS.
• The utility also pays a 3.6% dividend yield ($0.91 quarterly), while analysts remain cautious overall with a consensus Hold rating and an average price target of $102.50.

ATLAS Infrastructure Partners UK Ltd. lifted its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 44.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,461,243 shares of the utilities provider's stock after purchasing an additional 1,369,350 shares during the quarter. Pinnacle West Capital comprises approximately 19.8% of ATLAS Infrastructure Partners UK Ltd.'s investment portfolio, making the stock its biggest position. ATLAS Infrastructure Partners UK Ltd. owned 3.73% of Pinnacle West Capital worth $395,712,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. AQR Capital Management LLC grew its holdings in shares of Pinnacle West Capital by 13.3% during the 4th quarter. AQR Capital Management LLC now owns 377,541 shares of the utilities provider's stock worth $33,488,000 after purchasing an additional 44,266 shares during the period. Cetera Investment Advisers grew its holdings in shares of Pinnacle West Capital by 2.7% during the 4th quarter. Cetera Investment Advisers now owns 45,895 shares of the utilities provider's stock worth $4,071,000 after purchasing an additional 1,198 shares during the period. Laird Norton Wetherby Trust Company LLC purchased a new position in shares of Pinnacle West Capital during the 4th quarter worth $290,000. Trexquant Investment LP grew its holdings in shares of Pinnacle West Capital by 52.6% during the 4th quarter. Trexquant Investment LP now owns 211,527 shares of the utilities provider's stock worth $18,762,000 after purchasing an additional 72,874 shares during the period. Finally, Amundi grew its holdings in shares of Pinnacle West Capital by 8.7% during the 4th quarter. Amundi now owns 193,227 shares of the utilities provider's stock worth $17,139,000 after purchasing an additional 15,521 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Price Performance

PNW opened at $102.32 on Thursday. The stock's 50-day moving average price is $101.76 and its 200 day moving average price is $97.04. Pinnacle West Capital Corporation has a 12-month low of $85.32 and a 12-month high of $105.08. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.38. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 3.80 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last posted its earnings results 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. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the company earned ($0.04) EPS. Pinnacle West Capital's revenue was up 11.4% 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 expect that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current year.

Pinnacle West Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 4th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $3.64 annualized dividend and a yield of 3.6%. Pinnacle West Capital's dividend payout ratio is presently 67.78%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PNW shares. BMO Capital Markets increased their price target on Pinnacle West Capital from $98.00 to $107.00 and gave the stock a "market perform" rating in a report on Thursday, February 26th. TD Cowen increased their price target on Pinnacle West Capital from $100.00 to $101.00 and gave the stock a "hold" rating in a report on Friday, May 15th. Wall Street Zen cut Pinnacle West Capital from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. Wells Fargo & Company set a $106.00 price target on Pinnacle West Capital in a report on Tuesday, April 21st. Finally, Morgan Stanley set a $92.00 price target on Pinnacle West Capital in a report on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $102.50.

Insider Transactions at Pinnacle West Capital

In related news, EVP Jacob Tetlow sold 6,567 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the transaction, the executive vice president owned 6,634 shares of the company's stock, valued at approximately $656,766. This represents a 49.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company's stock.

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.

Want to see what other hedge funds are holding PNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle West Capital Corporation (NYSE:PNW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.