SG Americas Securities and The Manufacturers Life Insurance Company increased its stock holdings in Pinnacle West Capital Co., while Sei Investments Co. and Newport Trust Company LLC reduced their stake. Bank of Montreal Can and AE Wealth Management LLC made significant share purchases. Interestingly, Renaissance Technologies LLC possesses a stock holding worth $3.01 Million.
The company outshone its competitors on several trading days despite occasional underperformance compared to the Dow. It's been dubbed a strong momentum stock and a top-ranked value stock. However, there are recommendations to hold until interest rates lower.
Q2 earnings exceeded estimates while Q1 2024 earnings also outran revenue expectations. Furthermore, Pinnacle West recently declared a quarterly dividend and has proposed offering $450 Million of Convertible Senior Notes due in 2027.
Lastly, three new members have been appointed to the Board of Directors, and the upcoming investor engagement is scheduled for September 2024.
Pinnacle West Capital Corporation PNW News Analytics from Wed, 13 Jan 2021 08:00:00 GMT to Sat, 05 Oct 2024 14:23:06 GMT - Rating 8 - Innovation 6 - Information 9 - Rumor 7
