Renaissance Technologies LLC Raises Stock Holdings in Pinnacle West Capital Corporation $PNW

Renaissance Technologies LLC boosted its holdings in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 39.4% in the first quarter, Holdings Channel.com reports. The fund owned 576,100 shares of the utilities provider’s stock after acquiring an additional 162,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Pinnacle West Capital were worth $58,042,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC purchased a new position in shares of Pinnacle West Capital during the fourth quarter worth approximately $417,000. NewEdge Advisors LLC increased its holdings in Pinnacle West Capital by 999.1% during the 1st quarter. NewEdge Advisors LLC now owns 8,210 shares of the utilities provider’s stock worth $782,000 after purchasing an additional 7,463 shares during the period. Jones Financial Companies Lllp raised its position in Pinnacle West Capital by 109.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,255 shares of the utilities provider’s stock valued at $215,000 after purchasing an additional 1,180 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Pinnacle West Capital by 10.3% in the 1st 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 during the period. Finally, Empowered Funds LLC grew its position in shares of Pinnacle West Capital by 12.8% during the 1st 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. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on PNW shares. Wall Street Zen raised shares of Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Barclays upped their price target on shares of Pinnacle West Capital from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 1st. TD Cowen increased their price objective on shares of Pinnacle West Capital from $100.00 to $101.00 and gave the company a “hold” rating in a research note on Friday, May 15th. BMO Capital Markets cut their price objective on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company set a $106.00 price objective on shares of Pinnacle West Capital in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $104.07.

Insiders Place Their Bets

In other Pinnacle West Capital 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 value of $650,133.00. Following the completion of the sale, the executive vice president directly owned 6,634 shares in the company, valued at approximately $656,766. This trade represents a 49.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

Pinnacle West Capital Stock Performance

PNW stock opened at $106.22 on Monday. Pinnacle West Capital Corporation has a one year low of $85.32 and a one year high of $111.16. The firm has a market cap of $12.87 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 3.86 and a beta of 0.43. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.39 and a current ratio of 0.60. The firm has a 50-day simple moving average of $104.42 and a two-hundred day simple moving average of $100.56.

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

Pinnacle West Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 3rd will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, August 3rd. Pinnacle West Capital’s payout ratio is 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.