Pinnacle West Capital Corporation (PNW) is generating mixed sentiments. The corporation is trading at a 21% discount and has seen a significant increase in share acquisitions from various financial entities, including the Bank of Montreal and Epoch Investment Partners. Beat Q2 earnings and sales estimates have painted PNW in a favorable light. Remarkably, the corporation's performance outperformed competitors, achieving a new 52-week high at $90.51, and earning a 'Buy' status. However, analysis shows PNW's business yet to catch up with its share price, and investments made five years ago currently sit at a loss of 1.3%. Speculatively, investors await lower interest rates before venturing into financial commitments with PNW. HITE Hedge Asset Management LLC and Massachusetts Financial Services Co. have decreased their stock positions, and Newport Trust Company LLC sold substantial shares. Nevertheless, the growing demand for its electricity and positive expectations for Q2 2024 Earnings suggest potential growth. Institutionally, Pinnacle West is heavily dominated, with institutional owners holding 87% of shares. Mizuho is maintaining its price target on Pinnacle West shares, capturing the seemingly stable position of the corporation.
Pinnacle West Capital Corporation PNW News Analytics from Mon, 27 Aug 2018 07:00:00 GMT to Sun, 29 Sep 2024 08:42:33 GMT -
Rating 3
- Innovation 1
- Information 7
- Rumor -2
