Assenagon Asset Management S.A. Has $81.67 Million Stake in Pinnacle West Capital Corporation $PNW

Assenagon Asset Management S.A. grew its stake in Pinnacle West Capital Corporation (NYSE:PNW) by 133.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 920,687 shares of the utilities provider’s stock after buying an additional 526,212 shares during the period. Assenagon Asset Management S.A. owned approximately 0.77% of Pinnacle West Capital worth $81,665,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. TABR Capital Management LLC bought a new position in shares of Pinnacle West Capital in the 4th quarter valued at approximately $787,000. 180 Wealth Advisors LLC bought a new stake in Pinnacle West Capital during the fourth quarter worth approximately $206,000. Wealth Enhancement Advisory Services LLC grew its holdings in Pinnacle West Capital by 12.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,827 shares of the utilities provider’s stock valued at $3,198,000 after purchasing an additional 4,024 shares during the last quarter. Wedmont Private Capital acquired a new position in Pinnacle West Capital during the fourth quarter valued at approximately $223,000. Finally, CWA Asset Management Group LLC raised its position in shares of Pinnacle West Capital by 17.3% in the fourth quarter. CWA Asset Management Group LLC now owns 35,158 shares of the utilities provider’s stock valued at $3,119,000 after purchasing an additional 5,198 shares during the period. Institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Stock Up 0.2%

PNW opened at $97.81 on Wednesday. The business has a 50 day moving average of $97.35 and a 200-day moving average of $91.97. The stock has a market capitalization of $11.83 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 3.58 and a beta of 0.54. The company has a current ratio of 0.54, a quick ratio of 0.36 and a debt-to-equity ratio of 1.30. Pinnacle West Capital Corporation has a 1-year low of $85.32 and a 1-year high of $103.97.

Pinnacle West Capital (NYSE:PNW) last announced its earnings results on Wednesday, February 25th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. Pinnacle West Capital had a net margin of 11.55% and a return on equity of 8.82%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. Pinnacle West Capital’s revenue was up 3.0% compared to the same quarter last year. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, sell-side analysts anticipate that Pinnacle West Capital Corporation will post 5.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PNW shares. UBS Group boosted their price objective on shares of Pinnacle West Capital from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 17th. Stifel Nicolaus set a $107.00 target price on shares of Pinnacle West Capital in a research note on Thursday, February 26th. Barclays dropped their target price on shares of Pinnacle West Capital from $95.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Morgan Stanley set a $96.00 target price on shares of Pinnacle West Capital in a research report on Friday, February 20th. Finally, Wells Fargo & Company upped their price target on shares of Pinnacle West Capital from $91.00 to $97.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $100.08.

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.