Pinnacle West Capital Corporation (PNW) has undergone a flurry of investment activity. Despite underperforming compared to competitors on several instances, the company exhibited strong performance on particular occasions, outperforming the market. This mixed performance has led to a slew of rating changes, with multiple upgrades to 'Buy' and 'Hold,' and adjustments on PNW's price target. Notably, Epoch Investment Partners, Norges Bank, Capital Research Global Investors, and First Trust Advisors have all increased their stake in PNW. However, different institutions such as Bank of Nova Scotia, Orion Portfolio Solutions, and Assenagon Asset Management have reduced their shareholding. PNW's recently announced $450M convertible notes offering reflects its strategic financing activities. The high institutional ownership of 87% indicates confidence amongst professional investors. Q1 2024 earnings have exceeded revenue expectations, and the company appears poised towards clean energy goals because of its considerable CAPEX. The company has also announced plans for further investor meeting in June 2024.
Pinnacle West Capital Corporation PNW News Analytics from Wed, 06 Sep 2023 07:00:00 GMT to Sun, 09 Jun 2024 13:47:28 GMT -
Rating -1
- Innovation 4
- Information 5
- Rumor -6
