Pinnacle West Capital Corporation $PNW Shares Sold by Aventail Capital Group LP

Key Points

• Aventail Capital Group LP reduced its Pinnacle West Capital stake by 42.7% in the fourth quarter, selling 92,027 shares and leaving it with 123,629 shares worth about $11 million.
• Insider activity also showed selling: EVP Jacob Tetlow sold 6,567 shares at $99 each, cutting his direct ownership by nearly 50%.
• Pinnacle West Capital reported better-than-expected quarterly results, with EPS of $0.27 versus an expected loss and revenue of $1.15 billion, while analysts currently rate the stock a consensus Hold with a $102.50 target price.

Aventail Capital Group LP cut its stake in Pinnacle West Capital Corporation (NYSE:PNW - Free Report) by 42.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,629 shares of the utilities provider's stock after selling 92,027 shares during the quarter. Aventail Capital Group LP owned about 0.10% of Pinnacle West Capital worth $10,966,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PNW. CYBER HORNET ETFs LLC acquired a new stake in shares of Pinnacle West Capital during the 2nd quarter worth about $27,000. MUFG Securities EMEA plc acquired a new position in Pinnacle West Capital in the 2nd quarter valued at about $32,000. Clearstead Advisors LLC boosted its stake in shares of Pinnacle West Capital by 88.5% in the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider's stock valued at $35,000 after buying an additional 185 shares during the period. Dorato Capital Management purchased a new position in shares of Pinnacle West Capital in the 4th quarter valued at about $69,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Pinnacle West Capital by 102.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 966 shares of the utilities provider's stock valued at $87,000 after buying an additional 488 shares during the period. 91.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Jacob Tetlow sold 6,567 shares of the company's stock in a transaction on 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. This represents a 49.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PNW has been the subject of several recent analyst reports. Wells Fargo & Company set a $106.00 target price on Pinnacle West Capital in a research note on Tuesday, April 21st. Stifel Nicolaus set a $107.00 target price on Pinnacle West Capital in a research note on Thursday, February 26th. Wall Street Zen cut Pinnacle West Capital from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. Barclays boosted their price objective on Pinnacle West Capital from $101.00 to $102.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings raised Pinnacle West Capital from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $102.50.

Pinnacle West Capital Trading Down 1.5%

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 has a market capitalization of $12.40 billion, a PE ratio of 19.05, a P/E/G ratio of 3.80 and a beta of 0.44. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $105.08. The business's fifty day moving average price is $101.76 and its 200 day moving average price is $97.04.

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 for the quarter, beating the consensus estimate of ($0.03) by $0.30. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.08 billion. Pinnacle West Capital had a return on equity of 9.27% and a net margin of 11.99%.Pinnacle West Capital's revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.04) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, sell-side analysts forecast that Pinnacle West Capital Corporation will post 4.7 EPS for the current fiscal year.

Pinnacle West Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 4th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, May 4th. Pinnacle West Capital's dividend payout ratio is currently 67.78%.

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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