Pinnacle West Capital Corporation $PNW Shares Acquired by Gotham Asset Management LLC

Key Points

• Gotham Asset Management increased its stake in Pinnacle West Capital by 37% in the fourth quarter, ending with 504,112 shares valued at about $44.7 million.
• Pinnacle West reported better-than-expected quarterly results, posting EPS of $0.27 versus an estimated loss, with revenue of $1.15 billion and 11.4% year-over-year revenue growth.
• The company pays a quarterly dividend of $0.91 per share, equal to an annualized yield of about 3.6%, while analysts currently maintain a Hold consensus with a target price of $102.50.

Gotham Asset Management LLC grew its stake in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 37.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 504,112 shares of the utilities provider's stock after purchasing an additional 136,162 shares during the quarter. Gotham Asset Management LLC owned approximately 0.42% of Pinnacle West Capital worth $44,715,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC purchased a new position in shares of Pinnacle West Capital in the fourth quarter worth about $417,000. NewEdge Advisors LLC lifted its stake in shares of Pinnacle West Capital by 999.1% in the first quarter. NewEdge Advisors LLC now owns 8,210 shares of the utilities provider's stock worth $782,000 after buying an additional 7,463 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Pinnacle West Capital by 109.8% in the first quarter. Jones Financial Companies Lllp now owns 2,255 shares of the utilities provider's stock worth $215,000 after buying an additional 1,180 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Pinnacle West Capital by 10.3% in the first quarter. Goldman Sachs Group Inc. now owns 441,047 shares of the utilities provider's stock worth $42,010,000 after buying an additional 41,173 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Pinnacle West Capital by 12.8% in the first quarter. Empowered Funds LLC now owns 4,600 shares of the utilities provider's stock worth $438,000 after buying an additional 523 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Pinnacle West Capital Price Performance

Shares of PNW stock opened at $102.32 on Thursday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39. The firm's 50-day moving average is $101.76 and its two-hundred day moving average 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 market capitalization of $12.40 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 3.80 and a beta of 0.44.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last issued its earnings results on Monday, May 4th. The utilities provider reported $0.27 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm earned ($0.04) earnings per share. Pinnacle West Capital'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. Analysts predict 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. Shareholders 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 dividend on an annualized basis and a yield of 3.6%. Pinnacle West Capital's payout ratio is 67.78%.

Insider Buying and Selling

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of Pinnacle West Capital stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the transaction, the executive vice president directly owned 6,634 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley set a $92.00 price target on shares of Pinnacle West Capital in a research note on Thursday, May 21st. Wall Street Zen downgraded shares of Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. Barclays raised their price target on shares of Pinnacle West Capital from $101.00 to $102.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 5th. Wells Fargo & Company set a $106.00 price target on shares of Pinnacle West Capital in a research note on Tuesday, April 21st. Finally, Citigroup raised their price target on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the stock a "neutral" rating in a research note on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $102.50.

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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