Pinnacle West Capital Corporation (PNW) – Monthly Stock Report

Publication Date: September 22, 2024

Company Overview

Pinnacle West Capital Corporation (PNW), headquartered in Phoenix, Arizona, is a leading player in the regulated electric utilities sector. Since its establishment in 1985 and its public listing on October 4, 1999, Pinnacle West has been dedicated to delivering electricity through its subsidiary, which provides extensive retail and wholesale electric services. The company is heavily involved in the generation, transmission, and distribution of electricity, tapping into various energy sources, including coal, nuclear, gas, oil, and solar power. With its robust infrastructure comprising overhead and underground transmission lines, substations, and energy storage facilities, Pinnacle West stands out as a significant contributor to the energy landscape.

With total revenues reaching approximately $4.89 billion, Pinnacle West demonstrates a solid financial foundation coupled with growth potential, earmarking it as an attractive investment opportunity. Market analysts currently suggest a “buy” recommendation based on favorable performance indicators, including a target high price of $104.00. This prompts investors to consider the stock amidst positive market trends and regulatory dynamics that favor the utilities sector.

Market Performance and Sentiment

Pinnacle West boasts a total of 113,612,000 shares outstanding, with a modest short interest of approximately 0.0526% (5,213,519 shares shorted). This low level of short-selling reflects positive investor sentiment about the company’s performance. Currently trading at $90.28, the stock demonstrates potential for growth, especially with a target high price of $104.00 and a target mean price of $89.00. These figures indicate mixed market expectations; however, the majority consensus remains optimistic, supported by a recommendation mean of 2.1 from 12 analysts, where lower numbers correlate with stronger buy opinions.

The stock’s current price is also positioned favorably near its fifty-two week high of $91.57, indicating a robust momentum in the market. This performance becomes even more pronounced when considering the stock’s fifty-two week low of $65.20, highlighting impressive growth over the past year. Furthermore, with a fifty-day moving average of $86.32, trading above this average further reinforces the bullish sentiment among investors.

Conclusion

In summary, Pinnacle West Capital Corporation (PNW) presents an appealing investment avenue within the regulated electric utilities sector. With its solid revenue foundation, low short interest, and positive analyst ratings, the stock upholds a strong outlook for potential future gains. As energy demands continue to rise and infrastructure improvements are prioritized, Pinnacle West is well-positioned to deliver steady returns, making it a strategic addition to any diversified investment portfolio. Investors should monitor key performance indicators and market trends to make informed decisions as they navigate this promising stock.

Metric	Value
Market Cap	$10.3b
Total Debt	$11.2b
Total Cash	$4.0m
Shares Outstanding	113.6m
Float Shares	113.3m