Pinnacle West Capital Corporation's (PNW) performance seems volatile with its shares often underperforming in comparison to competitors, despite daily gains. However, the company hit a 52-week high and managed to maintain solid growth, surpassing earnings estimates while lagging slightly in terms of revenue. Although the first quarter of 2024 showed a slight lag in estimates, revenues increased yearly. Alarmingly, the stock holdings of several large institutions such as Retirement Systems of Alabama and Van ECK Associates Corp have decreased. Yet, with an approximately 89% ownership,
PNW boasts strong institutional backing. The company held investor meetings, leading to speculation about future plans. Wells Fargo & Company raised their price target for
PNW to $77.00. Pinnacle West Capital seems to be viewed as a strong growth and momentum stock. Savant Capital holds substantial positions in
PWN, enhancing the faith in the firm's prospects. The company's return on equity provides some insights into its financial health. However, debt load may pose a concern. A proposed public offering of $650 million of common stock may help infuse capital but potentially dilute current shareholders. Pinnacle West Capital demonstrates promising financial results despite a potential concern over capital allocation. Additionally, its high yield ranks it amongst quality utility plays.
Pinnacle West Capital Corporation PNW News Analytics from Mon, 02 Aug 2021 07:00:00 GMT to Sun, 12 May 2024 11:57:47 GMT -
Rating 0
- Innovation -5
- Information 4
- Rumor -3
