Pinnacle West Capital (PNW)

• Market cap: $9.85B
• 1 day: 0.23%
• 5 days: 5.48%
• 1 month: 0.63%
• 3 months: -0.52%
• 6 months: 5.18%
• Year to date: 2.76%
• 1 year: 23.98%
• 5 years: -7.18%
• 10 years: 20.40%
• Sector: Utilities
• Industry: Electric Services

About: Pinnacle West is a holding company whose principal subsidiary is Arizona Public Service, a vertically integrated electric utility that serves 1.4 million customers across a 35,000-square-mile territory in central Arizona, including Phoenix. APS owns or leases more than 6 gigawatts of power generation capacity, including a 29% ownership stake in the largest nuclear plant in the US, Palo Verde. Half of the electricity that APS supplies to customers comes from clean energy sources, including nuclear.

Employees: 6,133

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

298% more call options, than puts

Call options by funds: $32.7M | Put options by funds: $8.22M

90% more first-time investments, than exits

New positions opened: 78 | Existing positions closed: 41

40% more funds holding in top 10

Funds holding in top 10: 5 [Q2] → 7 (+2) [Q3]

13% more capital invested

Capital invested by funds: $8.87B [Q2] → $9.99B (+$1.12B) [Q3]

6% more funds holding

Funds holding: 538 [Q2] → 569 (+31) [Q3]

2% more repeat investments, than reductions

Existing positions increased: 192 | Existing positions reduced: 189

2.72% less ownership

Funds ownership: 102.29% [Q2] → 99.56% (-2.72%) [Q3]

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $81 7% downside
• Avg. target: $92 6% upside
• High target: $101 17% upside

5 analyst ratings

• positive: 1 20%
• neutral: 4 80%
• negative: 0 0%

Citigroup Ryan Levine 67% 1-year accuracy 4 / 6 met price target	10% upside $95	Neutral Maintained	4 Dec 2024
Keybanc Sophie Karp 46% 1-year accuracy 19 / 41 met price target	17% upside $101	Overweight Upgraded	4 Dec 2024
Morgan Stanley David Arcaro 74% 1-year accuracy 28 / 38 met price target	7% downside $81	Equal-Weight Maintained	22 Nov 2024
Barclays Nicholas Campanella 68% 1-year accuracy 50 / 74 met price target	5% upside $91	Equal-Weight Downgraded	18 Nov 2024
Wells Fargo Sarah Akers 62% 1-year accuracy 8 / 13 met price target	6% upside $92	Equal-Weight Maintained	7 Nov 2024