Key Points
- Insider sale: Pinnacle West Capital EVP Jacob Tetlow sold 6,567 shares at $99 each, totaling about $650,133, cutting his stake by nearly 50%.
- Strong quarterly results: The utility beat expectations with quarterly EPS of $0.27 versus a loss estimate, and revenue of $1.15 billion, up 11.4% year over year.
- Dividend and outlook: The company declared a quarterly dividend of $0.91 per share and maintains a roughly 3.7% yield; analysts currently rate the stock a consensus Hold with an average target price of $103.07.
Pinnacle West Capital Corporation (NYSE:PNW - Get Free Report) EVP Jacob Tetlow sold 6,567 shares of the company's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $99.00, for a total transaction of $650,133.00. Following the completion of the transaction, the executive vice president owned 6,634 shares of the company's stock, valued at approximately $656,766. This trade represents a 49.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Pinnacle West Capital Trading Up 0.6%
Shares of Pinnacle West Capital stock opened at $99.68 on Friday. The firm has a 50-day simple moving average of $101.41 and a two-hundred day simple moving average of $94.95. The company has a market cap of $12.08 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 3.63 and a beta of 0.46. Pinnacle West Capital Corporation has a fifty-two week low of $85.32 and a fifty-two week high of $104.92. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.39 and a current ratio of 0.60.
Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.30. Pinnacle West Capital had a net margin of 11.99% and a return on equity of 9.27%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm earned ($0.04) EPS. The company's revenue for the quarter was up 11.4% on a year-over-year basis. Pinnacle West Capital has set its FY 2026 guidance at 4.550-4.750 EPS. As a group, equities analysts predict that Pinnacle West Capital Corporation will post 4.7 earnings per share for the current fiscal year.
Pinnacle West Capital Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 4th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, May 4th. Pinnacle West Capital's dividend payout ratio is currently 67.78%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on PNW. Citigroup increased their price target on shares of Pinnacle West Capital from $100.00 to $109.00 and gave the company a "neutral" rating in a research note on Thursday, February 26th. Morgan Stanley dropped their price target on shares of Pinnacle West Capital from $99.00 to $98.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 21st. TD Cowen increased their price target on shares of Pinnacle West Capital from $97.00 to $100.00 and gave the company a "hold" rating in a research note on Thursday, February 26th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $103.00 price target on shares of Pinnacle West Capital in a research note on Friday, January 23rd. Finally, Wells Fargo & Company set a $106.00 price target on shares of Pinnacle West Capital in a research note on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $103.07.
View Our Latest Stock Analysis on Pinnacle West Capital
Institutional Investors Weigh In On Pinnacle West Capital
A number of hedge funds have recently added to or reduced their stakes in PNW. CYBER HORNET ETFs LLC acquired a new stake in Pinnacle West Capital during the 2nd quarter worth approximately $27,000. Bayforest Capital Ltd acquired a new stake in Pinnacle West Capital during the 3rd quarter worth approximately $29,000. Quent Capital LLC acquired a new stake in Pinnacle West Capital during the 3rd quarter worth approximately $30,000. MUFG Securities EMEA plc acquired a new stake in Pinnacle West Capital during the 2nd quarter worth approximately $32,000. Finally, Clearstead Advisors LLC lifted its holdings in Pinnacle West Capital by 88.5% during the 4th quarter. Clearstead Advisors LLC now owns 394 shares of the utilities provider's stock worth $35,000 after buying an additional 185 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.
Pinnacle West Capital Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
