In the bio-tech realm, Pinnacle West Capital Corporation (PNW), has attracted notable attention in the recent period. Several big investors have altered their holdings with Natixis, Moran Wealth, Retirement Systems, and Van ECK Associates having reduced their positions. Notably, Victory Capital Management and BNP Paribas have grown their stake. Pinnacle West hit a 52-week high and has institutional backing of around 89%.
The company continues to demonstrate its capability. Although shares have underperformed the market on some occasions, the Q1 2024 earnings beat expectations while revenues surpassed estimates. Its earnings have repeatedly provided positive surprises. Despite having a few shaky moments due to a perceived debt load, the performance of the company has been consistent with multiyear EPS growth predicted. Additionally, the company is hosting several investor meetings in the upcoming months.
A recent offering of $650 Million in common stock is on the horizon, with investments and clean power generation stated as prioritized sectors. Mention of a dividend yield of 3.4% shows promise for interested investors. However, a word of caution may be necessary as some are pointing towards the company being undervalued.
Pinnacle West Capital Corporation PNW News Analytics from Mon, 02 Aug 2021 07:00:00 GMT to Thu, 16 May 2024 12:29:08 GMT - Rating 7 - Innovation 5 - Information 8 - Rumor 3
