Lazard Asset Management LLC Decreases Stock Holdings in Pinnacle West Capital Corporation $PNW

Lazard Asset Management LLC cut its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 48.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,149 shares of the utilities provider’s stock after selling 33,688 shares during the quarter. Lazard Asset Management LLC’s holdings in Pinnacle West Capital were worth $3,541,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its stake in shares of Pinnacle West Capital by 0.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,755 shares of the utilities provider’s stock valued at $1,386,000 after buying an additional 100 shares during the period. Empowered Funds LLC grew its position in Pinnacle West Capital by 3.8% during the fourth quarter. Empowered Funds LLC now owns 3,166 shares of the utilities provider’s stock worth $281,000 after buying an additional 116 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Pinnacle West Capital by 2.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 4,711 shares of the utilities provider’s stock worth $418,000 after purchasing an additional 131 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Pinnacle West Capital by 11.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the utilities provider’s stock worth $119,000 after buying an additional 140 shares during the last quarter. Finally, Compound Planning Inc. raised its position in Pinnacle West Capital by 4.2% during the first quarter. Compound Planning Inc. now owns 4,070 shares of the utilities provider’s stock valued at $410,000 after purchasing an additional 165 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PNW. Argus lifted their price target on shares of Pinnacle West Capital from $95.00 to $106.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Wells Fargo & Company set a $106.00 price target on Pinnacle West Capital in a research report on Tuesday, April 21st. Weiss Ratings raised shares of Pinnacle West Capital from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. BMO Capital Markets lowered their target price on Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Finally, TD Cowen boosted their price objective on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the stock a “hold” rating in a research note on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $104.07.

Insider Transactions at Pinnacle West Capital

In other Pinnacle West Capital news, EVP Jacob Tetlow sold 6,567 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $99.00, for a total transaction of $650,133.00. Following the completion of the sale, the executive vice president directly owned 6,634 shares of the company’s stock, valued at approximately $656,766. This represents a 49.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Pinnacle West Capital Trading Down 0.4%

Pinnacle West Capital stock opened at $100.95 on Friday. The business’s fifty day moving average is $104.57 and its 200 day moving average is $100.98. Pinnacle West Capital Corporation has a one year low of $85.32 and a one year high of $111.16. The stock has a market capitalization of $12.23 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 3.67 and a beta of 0.43. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.60 and a quick ratio of 0.39.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data 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 firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.04) earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. On average, sell-side analysts predict that Pinnacle West Capital Corporation will post 4.74 EPS for the current year.

Pinnacle West Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital’s payout ratio is currently 67.78%.

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.