PINNACLE WEST CAPITAL CORPORATION (PNW) Stocks
ABOUT PINNACLE WEST CAPITAL CORPORATION
📊 Pinnacle West Capital Corporation is an electric utility holding company. The company’s assets are valued at $18 billion. Its portfolio includes the supply of regulated retail energy and energy related products, as well as the generation, transmission and distribution of energy to companies and residents in Arizona.
📊 The company’s subsidiary is an integrated electric utility company named Arizona Public Service Company, which offers its services to nearly 1.2 million customers. Long-term and short-term power contracts can be purchased for additional capacity as well as renewable energy.
📊 The company owns coal, oil and gas, solar and nuclear generating facilities.
📊 Pinnacle West Capital Corporation is an S&P 500 Index Company. Its headquarters is located in Phoenix, Arizona. The company has more than 6 300 employees working in its facilities across Arizona.
HISTORY OF PINNACLE WEST CAPITAL CORPORATION
- Arizona Public Service Company is restructured as a holding company in 1985. It is a subsidiary of AZP Group, Inc. In 1987 AZP Group is renamed to Pinnacle West Capital Corporation and starts trading on the New York Stock Exchange under its new stock symbol (NYSE:PNW).
- The company buys MeraBank with assets valued at $6.5 billion. The transaction adds savings and loans to the company’s portfolio. The company experience hardships in 1990 and 1991. Due to the stock price plummeting, it has to discontinue paying dividends, something that it has done consecutively since 1920.
- By 1993 Pinnacle starts to show profit again. The stock price triples and the company starts paying dividends again. Pinnacle appears on the S&P MidCap 400 Index by 1995.
VISION & VALUES OF PINNACLE WEST CAPITAL CORPORATION
- Pinnacle West Capital Corporation has a vision to generate a sustainable energy future for its customers. The company focusses on delivering affordable and reliable energy while conserving the environment. Pinnacle manages environmental risks, provide environmental training and keeps to its Environmental Management System Policy.
- In 2018 Pinnacle West Capital Corporation and its subsidiary, Arizona Public Service Company, contributes more than $10.8 million to organizations and causes in Arizona, especially ones that support the environment, arts and culture, education, civic and economic development as well as human services.
- Pinnacle employees volunteers approximately 121 000 hours and sits on nearly 300 non-profit organization boards of Arizona. More than $3.6 million are donated to educational programs of which $2.4 million are for Science, Technology, Engineering and Mathematics (STEM) education.
- With its Supply My Class award programs, it donates $500 to 1 000 teachers each, assisting them in buying classroom supplies.
MARKET PERFORMANCE OF PINNACLE WEST CAPITAL CORPORATION
- Pinnacle West Capital Corporation trades on the New York Stock Exchange under the NYSE stock symbol “PNW”.
- Data analysis for the company’s quarterly period ending June 30, 2019 reports a total revenue of $672,912 thousand. Operating income for the reported period is $196,589 thousand and net income is $149,019 thousand.
- Total assets are $18,165,666 thousand and dividends paid on common stock are $161,979 thousand. Potential investors can buy shares at a good price.