Assenagon Asset Management S.A. Lowers Stock Holdings in Pinnacle West Capital Corporation $PNW

Assenagon Asset Management S.A. cut its stake in shares of Pinnacle West Capital Corporation (NYSE:PNW) by 58.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 394,475 shares of the utilities provider’s stock after selling 547,223 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.33% of Pinnacle West Capital worth $35,369,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caldwell Trust Co bought a new position in Pinnacle West Capital in the second quarter worth approximately $27,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Pinnacle West Capital in the 2nd quarter worth $27,000. Ameritas Advisory Services LLC purchased a new stake in shares of Pinnacle West Capital in the 2nd quarter worth $31,000. MUFG Securities EMEA plc bought a new position in shares of Pinnacle West Capital during the 2nd quarter worth $32,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Pinnacle West Capital by 72.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 508 shares of the utilities provider’s stock valued at $45,000 after buying an additional 213 shares during the period. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Down 0.4%

NYSE:PNW opened at $88.56 on Friday. The stock has a market capitalization of $10.60 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 8.67 and a beta of 0.54. Pinnacle West Capital Corporation has a 52 week low of $81.47 and a 52 week high of $96.50. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 1.28. The firm has a 50 day moving average of $89.66 and a 200 day moving average of $89.81.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings results on Monday, November 3rd. The utilities provider reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.35. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.78 billion. Pinnacle West Capital had a return on equity of 8.57% and a net margin of 11.20%.The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.37 earnings per share. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS and its FY 2025 guidance at 4.900-5.100 EPS. As a group, sell-side analysts anticipate that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 2nd will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, February 2nd. Pinnacle West Capital’s dividend payout ratio (DPR) is currently 74.74%.

Wall Street Analyst Weigh In

PNW has been the subject of a number of research reports. Morgan Stanley set a $85.00 price objective on shares of Pinnacle West Capital in a research note on Tuesday. KeyCorp lowered shares of Pinnacle West Capital from an “overweight” rating to a “sector weight” rating in a report on Friday, December 12th. TD Cowen initiated coverage on shares of Pinnacle West Capital in a research note on Thursday, October 16th. They set a “hold” rating and a $97.00 price objective on the stock. Mizuho lowered shares of Pinnacle West Capital from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $102.00 to $90.00 in a report on Tuesday, September 9th. Finally, Zacks Research upgraded Pinnacle West Capital from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $96.58.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.