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PNW Pinnacle West Capital

Pinnacle West Capital Corp., an energy holding company based in Phoenix, has consolidated assets of about $19 billion, about 6,300 megawatts of generating capacity and 6,200 employees in Arizona and New Mexico. Through its principal subsidiary, Arizona Public Service, the company provides retail electricity service to nearly 1.3 million Arizona homes and businesses.

Company profile

Ticker
PNW
Exchange
CEO
Jeffrey Guldner
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
AZP GROUP INC
SEC CIK
IRS number
860512431

PNW stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 May 21
19 Jun 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 17.2M 17.2M 17.2M 17.2M 17.2M 17.2M
Cash burn (monthly) 14.26M 3.83M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 37.5M 10.07M n/a n/a n/a n/a
Cash remaining -20.3M 7.13M n/a n/a n/a n/a
Runway (months of cash) -1.4 1.9 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
19 May 21 Glynis Bryan Stock Units Common Stock Grant Aquire A No No 0 1,637 0 1,637
19 May 21 Cortese Denis A. Common Stock Gift Aquire G Yes No 0 1,637 0 18,762
19 May 21 Cortese Denis A. Common Stock Gift Dispose G No No 0 1,637 0 0
19 May 21 Cortese Denis A. Common Stock Grant Aquire A No No 85.43 1,637 139.85K 1,637
19 May 21 Fox Richard P Stock Units Common Stock Grant Aquire A No No 0 1,637 0 1,637
19 May 21 Klein Dale E. Stock Units Common Stock Grant Aquire A No No 0 1,637 0 1,637

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

83.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 492 518 -5.0%
Opened positions 57 69 -17.4%
Closed positions 83 51 +62.7%
Increased positions 170 175 -2.9%
Reduced positions 168 176 -4.5%
13F shares
Current Prev Q Change
Total value 7.67B 7.58B +1.2%
Total shares 94.31M 94.85M -0.6%
Total puts 91.5K 81K +13.0%
Total calls 110.7K 123.5K -10.4%
Total put/call ratio 0.8 0.7 +26.0%
Largest owners
Shares Value Change
Vanguard 12.91M $1.05B +1.0%
BLK Blackrock 10.59M $861.74M +2.0%
Wellington Management 6.61M $537.6M +71.8%
STT State Street 6.3M $512.85M +2.8%
American Century Companies 4.76M $387.09M +22.3%
BEN Franklin Resources 4.1M $333.38M -3.4%
Massachusetts Financial Services 2.92M $237.81M +2.3%
AMP Ameriprise Financial 2.52M $205.2M +5.0%
IVZ Invesco 2.2M $179M +20.6%
Geode Capital Management 2.05M $166.39M +1.0%
Largest transactions
Shares Bought/sold Change
Wellington Management 6.61M +2.76M +71.8%
FMR 377.96K -1.67M -81.5%
Norges Bank 0 -1.35M EXIT
Renaissance Technologies 510.11K -878.6K -63.3%
American Century Companies 4.76M +868.53K +22.3%
Zimmer Partners 0 -833K EXIT
Rare Infrastructure 1.42M +565.55K +66.2%
PUKPF Prudential 125.25K -490.66K -79.7%
CS Credit Suisse 611.65K +469.17K +329.3%
IVZ Invesco 2.2M +375.54K +20.6%

Financial report summary

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Management Discussion
  • Pinnacle West’s only reportable business segment is our regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses (primarily sales supplied under traditional cost-based rate regulation) and related activities and includes electricity generation, transmission and distribution.
  • Our consolidated net income attributable to common shareholders for the year ended December 31, 2020 was $551 million, compared with $538 million for the prior year.  The results reflect an increase of approximately $13 million for the regulated electricity segment primarily due to higher revenue driven by the effects of weather and lower refunds in the current year related to the Tax Act, higher pension and other postretirement non-service credits and higher revenue from customer growth, partially offset by higher income taxes, including lower amortization of excess deferred taxes, higher depreciation and amortization expense, and higher other expenses. Weather had a significant impact on our result of operations due to the hotter than normal weather in 2020 compared to 2019.
  • Operations and maintenance.  Operations and maintenance expenses increased $14 million for the year ended December 31, 2020 compared with the prior-year period primarily because of:
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