Pinnacl West Cap Stock Price, News & Analysis

Pinnacle West Capital Corporation (NYSE: PNW) has announced a quarterly dividend of $0.85 per share, payable on June 1, 2022. Shareholders of record by the close of business on May 2, 2022 will receive this payment. The company's total assets are approximately $22 billion, with a generating capacity of about 6,300 megawatts and a workforce of nearly 5,900 employees across Arizona and New Mexico. It serves over 1.3 million retail electricity customers in Arizona through its principal subsidiary, Arizona Public Service.

Pinnacle West Capital Corp. (NYSE: PNW) will release its first-quarter financial results for 2022 before U.S. markets open on May 4, 2022. Following this, at noon ET, management will hold a live webcast and conference call to discuss the results and recent developments. Pinnacle West, based in Phoenix, has assets of approximately $22 billion and a generating capacity of about 6,300 megawatts. It provides electricity to over 1.3 million customers in Arizona via its subsidiary, Arizona Public Service.

Pinnacle West Capital Corp. (NYSE: PNW) has appointed Gonzalo A. de la Melena Jr. to its board of directors. With over 20 years of management experience, de la Melena has a background in consumer goods and has served as President and CEO of the Arizona Hispanic Chamber of Commerce. His expertise in corporate leadership and community engagement is expected to enhance the company's representation and relationships within Arizona. Pinnacle West, an energy holding company with approximately $22 billion in assets and more than 1.3 million customers, continues to focus on responsible growth and community service.

Pinnacle West Capital Corp. (NYSE: PNW) reported a consolidated net income of $618.7 million, or $5.47 per diluted share for 2021, up from $550.6 million in 2020. This growth is attributed to increased customer usage (2.2% growth) and higher transmission revenues. Despite this, 2022 is projected to be a financial reset year due to an unfavorable rate case decision. The company aims for 100% clean, carbon-free electricity by 2050 and has made strides in customer satisfaction, with significant digital engagement increases.

Pinnacle West Capital Corp. (NYSE: PNW) will release its 2021 fourth-quarter and full-year financial results before U.S. markets open on February 25, 2022. A live webcast and conference call is scheduled for 11 a.m. ET to discuss these results and recent developments. The company, based in Phoenix, Arizona, manages assets totaling approximately $22 billion and provides retail electricity to over 1.3 million customers. For more details, visit pinnaclewest.com.

Orion Group Holdings, Inc. announces the appointment of Quentin P. Smith, Jr. to its Board of Directors, effective January 21, 2022. Mr. Smith brings extensive experience in strategic planning and governance. This change follows the retirement of Richard L. Daerr, Jr., who has served on the Board since 2007. Daerr's retirement is effective May 20, 2022. The Board will expand temporarily to eight Directors, with Mr. Smith expected to stand for re-election at the 2022 annual stockholder meeting. These changes aim to enhance the Company's strategic direction in the specialty construction sector.

Pinnacle West Capital Corporation (NYSE: PNW) has declared a quarterly dividend of $0.85 per share, payable on March 1, 2022, to shareholders of record by the close of business on February 1, 2022. The company, based in Phoenix, operates with consolidated assets of approximately $22 billion and has a generating capacity of about 6,300 megawatts. Pinnacle West, through its subsidiary Arizona Public Service, serves over 1.3 million customers across Arizona.

Arizona Public Service Company (APS) has launched its Cool Rewards program, which incentivizes over 52,000 customers to conserve energy using smart thermostats. The program is one of the largest of its kind in the United States, with participants saving nearly 80 megawatts of electricity during summer 2021 alone. Collaborating with EnergyHub and Google, APS aims to enhance customer experience while promoting clean energy initiatives. The program has received the ENERGY STAR Partner of the Year Award for excellence in energy efficiency.

Pinnacle West Capital Corp. (NYSE: PNW) reported Q3 2021 net income of $339.8 million ($3.00 per share), down from $346.4 million ($3.07 per share) in Q3 2020. Revenue decline was influenced by milder weather compared to last year's heatwave. Despite challenges, customer growth increased by 2.3%, aiding operational performance. The Arizona Corporation Commission's unfavorable rate case decision led to a cut in return on equity from 10% to 8.7%, prompting the company to consider legal challenges. The financial outlook for 2021 expects earnings of $5.25 to $5.35 per diluted share.