pinnacle west capital

Pinnacle West Capital shareholders gained a total return of 28% during the year. See Pinnacle West Capital Corporati (PNW) Environment, Social and Governance Ratings to help you in your stock buying decisions. On Tuesday, July 7, I executed an order on Daily Trade Alert’s behalf to divest the IBP’s 42.6414-share Dominion position; I used the proceeds to initiate a position in Arizona utility Pinnacle West Capital (PNW) and to add to our existing holding in northwestern utility Avista (AVA). Pinnacle West Capital Corp., an energy holding company based in Phoenix, has consolidated assets of approximately $20 billion, about 6,300 megawatts of generating capacity and slightly more than 6,000 employees in Arizona and New Mexico. ET, Wednesday, March 3, by calling (877) 481-4010 in the U.S. and Canada or (919) 882-2331 internationally and entering passcode 39492. It is publicly traded on the New York Stock exchange and a component of the S&P 500 stock market index. ARGI Investment Services LLC purchased a new stake in shares of Pinnacle West Capital Co. (NYSE:PNW) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. PINNACLE WEST CAPITAL CORPORATION : News, information and stories for PINNACLE WEST CAPITAL CORPORATION | Nyse: PNW | Nyse View real-time stock prices and stock quotes for a full financial overview. [3], However, by 1992, the company returned to profitability, as earnings recovered to over US$150 million. For both Pinnacle West and APS, these covenants require that the ratio of consolidated debt to total consolidated capitalization not exceed 65%. Pinnacle West Capital Corp., an energy holding company based in Phoenix, has consolidated assets of approximately $20 billion, about 6,300 megawatts of generating capacity, and slightly more than 6,000 employees in Arizona and New Mexico. Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. Media Relations/Corporate Communications Alan Bunnell (602) 250-3376 alan.bunnell@pinnaclewest.com Pinnacle West Capital is a utility holding company that owns Arizona Public Service and Bright Canyon Energy. It grew to become Arizona's largest thrift, with $6.5 billion in assets. The company believes accelerating some spend into 2020 will help mitigate the potential impacts of mild weather in future years, while stepping up investments that improve customers’ experience and interaction with APS. PNW | Complete Pinnacle West Capital Corp. stock news by MarketWatch. If we look at who the major shareholders are, we find that insiders hold 0.23% of Pinnacle West Capital Corporation shares while 88.89% of the shares are in the hands of institutional holders. Neither Pinnacle West nor APS assumes any obligation to update these statements, even if our internal estimates change, except as required by law. Pinnacle West Capital Corporation (NYSE:PNW)’s Major holders. However, the stock price reached an all-time peak that year, which was not surpassed for the next decade, as the company ran into troubles through the early 1990s. This press release features multimedia. Other institutional investors have also […] Pinnacle West Capital's debt is 4.2 times its EBITDA, and its EBIT cover its interest expense 3.6 times over. Customer Financial Assistance Continues Amid Pandemic. Shares of Pinnacle West Capital (NYSE:PNW) rose by 11.79% in the past three months. [3], In 1987, AZP Group changed its name to Pinnacle West Capital Corporation, and began trading under the new ticker symbol PNW. Pinnacle West Capital is a utility holding company that owns Arizona Public Service and Bright Canyon Energy. Pinnacle West Capital made a profit of $500 million in 2017. We also executed an agreement to add battery energy storage to six existing APS solar plants.”. Guldner shared that the company made steady progress in its first year and remains on track to cease the use of coal generation by 2031: “We secured more than 400 megawatts of wind and other clean energy resources and issued a request for proposal late last year to acquire more battery storage that can be combined with solar generation to add more than 1 gigawatt of new resources to the system, including more renewable energy. Advancing a Clean Energy Future for Arizona. A replay of the call also will be available until 11:59 p.m. Pinnacle West management will host a live webcast and conference call to discuss financial results and recent developments at 11 a.m. APS CEO Jeff Guldner and the leadership team are championing this cultural transformation to keep employees’ talent focused on customers and ensure the company remains an employer of choice. These factors include, but are not limited to: These and other factors are discussed in Risk Factors described in Part 1, Item 1A of the Pinnacle West/APS Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2020, which readers should review carefully before placing any reliance on our financial statements or disclosures. Pinnacle West Reports 2020 Full-Year and Fourth-Quarter Results, https://www.businesswire.com/news/home/20210224005141/en/, suspended customer late fees and disconnections, (dollars and shares in thousands, except per share amounts), Allowance for equity funds used during construction, Pension and other postretirement non-service credits - net, Allowance for borrowed funds used during construction, Less: Net income attributable to noncontrolling interests, Net income attributable to common shareholders - basic, Net income attributable to common shareholders - diluted. I recently wrote about Pinnacle West Capital Corporation in January of 2021, when the company was a BUY albeit one without too massive an upside. 1985 earnings reached a new record high at almost US$290 million, and by the end of the year the stock price had doubled from its 1984 low. By using this website, you accept our Terms of Use and Privacy Policy agreements. Analyst Contact: Stefanie Layton (602) 250-4541 The stock price plunged 85% from its 1987 peak, to its lowest level in over twenty years. The average APS customer experienced less than one power outage (0.76) and faced fewer total minutes of interrupted service (70 minutes) than industry averages. Pinnacle West Capital Corp PNW Morningstar Rating Rating as of May 14, 2021. View the full release here: https://www.businesswire.com/news/home/20210224005141/en/, In a year of transition and renewed focus on excellence in customer care, the company recently launched a new cultural framework called The APS Promise. All rights reserved. Weather impacts alone accounted for a year-over-year increase in after-tax revenues of $94 million, or $0.83 cents per share. Guldner and the leadership team are championing this cultural transformation to keep employees’ talent focused on customers and ensure the company remains an employer of choice. The share float percentage for the stock currently stands at 89.1%. If you recall the latest results as well as the forecasts, the company delivered and expected … The stock price tripled from its 1991 low by the end of 1993. the potential effects of the continued COVID-19 pandemic, including, but not limited to, demand for energy, economic growth, our employees and contractors, supply chain, expenses, capital markets, capital projects, operations and maintenance activities, uncollectable accounts, liquidity, cash flows, or other unpredictable events; our ability to manage capital expenditures and operations and maintenance costs while maintaining reliability and customer service levels; variations in demand for electricity, including those due to weather, seasonality, the general economy or social conditions, customer and sales growth (or decline), the effects of energy conservation measures and distributed generation, and technological advancements; power plant and transmission system performance and outages; competition in retail and wholesale power markets; regulatory and judicial decisions, developments and proceedings; new legislation, ballot initiatives and regulation, including those relating to environmental requirements, regulatory and energy policy, nuclear plant operations and potential deregulation of retail electric markets; our ability to achieve timely and adequate rate recovery of our costs through our rates and adjustor recovery mechanisms, including returns on and of debt and equity capital investment; our ability to meet renewable energy and energy efficiency mandates and recover related costs; the ability of APS to achieve its clean energy goals (including a goal by 2050 of 100% clean, carbon-free electricity) and, if these goals are achieved, the impact of such achievement on APS, its customers, and its business, financial condition and results of operations; risks inherent in the operation of nuclear facilities, including spent fuel disposal uncertainty; current and future economic conditions in Arizona, including in real estate markets; the direct or indirect effect on our facilities or business from cybersecurity threats or intrusions, data security breaches, terrorist attack, physical attack, severe storms, droughts, or other catastrophic events, such as fires, explosions, pandemic health events, or similar occurrences; the development of new technologies which may affect electric sales or delivery; the cost of debt and equity capital and the ability to access capital markets when required; environmental, economic and other concerns surrounding coal-fired generation, including regulation of greenhouse gas emissions; the investment performance of the assets of our nuclear decommissioning trust, pension, and other post-retirement benefit plans and the resulting impact on future funding requirements; the liquidity of wholesale power markets and the use of derivative contracts in our business; potential shortfalls in insurance coverage; new accounting requirements or new interpretations of existing requirements; generation, transmission and distribution facility and system conditions and operating costs; the ability to meet the anticipated future need for additional generation and associated transmission facilities in our region; the willingness or ability of our counterparties, power plant participants and power plant landowners to meet contractual or other obligations or extend the rights for continued power plant operations; and. Earnings per share amounts are based on average diluted common shares outstanding. Pinnacle West and APS comply with these covenants. Unsecured Notes 'A-'; Outlook Negative Wed 10 Jun, 2020 - 2:52 PM ET Fitch Ratings - Chicago - 10 Jun 2020: Fitch Ratings has assigned an 'A-' rating to Pinnacle West Capital Corp.'s (PNW; Issuer Default Rating A-) issuance of $500 million of five-year senior unsecured notes due June 15, 2025. Pinnacle West Capital Corporation - A quick recap.

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