Looking at the current trends, it seems that Pinnacle West Capital Corporation's (PNW) performance in the market is quite a rollercoaster ride. While Q1 earning reports were promising, beating estimates and exceeding revenue expectations, it is also important to note that PNW's stock performance regularly underperformed compared to competitors on multiple instances. Notwithstanding, Wells Fargo increased its price target for PNW to $77.00 and encouraged investors to include PNW in their portfolios. However, concerns regarding Pinnacle West's debt load and returns on capital surfaced, with some investors worried about the company's ability to generate positive returns given its historical earnings growth. It is worth noting that a significant majority, 87%, of PNW's shares are owned by institutional owners, highlighting the corporation's strong investor base. The announcement of a proposed public offering of $650 million of common stock further illustrates a strategic move towards expansion. Despite intermittent underperformance, Pinnacle West continues to show promise as it navigates market pressures and investor expectations.
Pinnacle West Capital Corporation PNW News Analytics from Mon, 02 Aug 2021 07:00:00 GMT to Wed, 08 May 2024 12:18:14 GMT - Rating 6 - Innovation -2 - Information 6 - Rumor -5
