Harvest Portfolios Group Inc. Purchases 8,765 Shares of Pinnacle West Capital Corporation $PNW

Harvest Portfolios Group Inc. grew its position in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,098 shares of the utilities provider’s stock after buying an additional 8,765 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Pinnacle West Capital were worth $9,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PNW. CYBER HORNET ETFs LLC bought a new position in shares of Pinnacle West Capital during the 2nd quarter valued at $27,000. MUFG Securities EMEA plc bought a new position in shares of Pinnacle West Capital during the 2nd quarter valued at $32,000. Dorato Capital Management bought a new position in shares of Pinnacle West Capital during the 4th quarter valued at $69,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Pinnacle West Capital by 102.1% during 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. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Pinnacle West Capital by 4,616.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 1,132 shares of the utilities provider’s stock valued at $101,000 after buying an additional 1,108 shares during the period. 91.51% of the stock is owned by institutional investors.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the 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 completion of the sale, the executive vice president owned 6,634 shares in the company, valued at approximately $656,766. This represents a 49.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Pinnacle West Capital Trading Up 1.9%

NYSE:PNW opened at $101.63 on Wednesday. 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 1.38, a current ratio of 0.60 and a quick ratio of 0.39. The firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 3.65 and a beta of 0.46. The business has a fifty day moving average price of $101.26 and a 200-day moving average price of $95.15.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business posted ($0.04) EPS. Pinnacle West Capital’s revenue for the quarter 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. Sell-side analysts forecast that Pinnacle West Capital Corporation will post 4.7 EPS for the current year.

Pinnacle West Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 4th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, May 4th. Pinnacle West Capital’s dividend payout ratio is presently 67.78%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PNW. Wall Street Zen raised Pinnacle West Capital from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. TD Cowen increased their price target on Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a report on Friday. Wells Fargo & Company set a $106.00 price objective on Pinnacle West Capital in a research note on Tuesday, April 21st. Truist Financial began coverage on Pinnacle West Capital in a research note on Monday, April 20th. They issued a “hold” rating and a $108.00 price objective for the company. Finally, Barclays upped their price objective on 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. 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, Pinnacle West Capital has a consensus rating of “Hold” and an average price target of $103.14.

Pinnacle West Capital Company 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.