Pinnacle West Capital (PNW)

• Market cap: $10.5B
• 1 day: 0.39%
• 5 days: -2.56%
• 1 month: 6.62%
• 3 months: 4.50%
• 6 months: 19.83%
• Year to date: 26.28%
• 1 year: 23.56%
• 5 years: 6.77%
• 10 years: 40.29%
• Sector: Utilities
• Industry: Electric Services

About: Pinnacle West is a holding company whose principal subsidiary is Arizona Public Service, a vertically integrated electric utility that serves 1.4 million customers across a 35,000-square-mile territory in central Arizona, including Phoenix. APS owns or leases more than 6 gigawatts of power generation capacity, including a 29% ownership stake in the largest nuclear plant in the US, Palo Verde. Half of the electricity that APS supplies to customers comes from clean energy sources, including nuclear.

Employees: 6,133

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

298% more call options, than puts

Call options by funds: $32.7M | Put options by funds: $8.22M

59% more first-time investments, than exits

New positions opened: 78 | Existing positions closed: 49

40% more funds holding in top 10

Funds holding in top 10: 5 [Q2] → 7 (+2) [Q3]

13% more capital invested

Capital invested by funds: $8.82B [Q2] → $9.93B (+$1.11B) [Q3]

5% more funds holding

Funds holding: 538 [Q2] → 567 (+29) [Q3]

2% more repeat investments, than reductions

Existing positions increased: 192 | Existing positions reduced: 188

2.72% less ownership

Funds ownership: 101.64% [Q2] → 98.93% (-2.72%) [Q3]

Research analyst outlook

8 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $81 12% downside
• Avg. target: $92 0% upside
• High target: $104 12% upside

8 analyst ratings

• positive: 2 25%
• neutral: 6 75%
• negative: 0 0%

Citigroup Ryan Levine 75% 1-year accuracy 3 / 4 met price target	3% upside $95	Neutral Maintained	4 Dec 2024
Keybanc Sophie Karp 76% 1-year accuracy 35 / 46 met price target	9% upside $101	Overweight Upgraded	4 Dec 2024
Morgan Stanley David Arcaro 57% 1-year accuracy 16 / 28 met price target	12% downside $81	Equal-Weight Maintained	22 Nov 2024
Barclays Nicholas Campanella 77% 1-year accuracy 51 / 66 met price target	2% downside $91	Equal-Weight Downgraded	18 Nov 2024
Wells Fargo Sarah Akers 93% 1-year accuracy 13 / 14 met price target	0% downside $92	Equal-Weight Maintained	7 Nov 2024