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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

24 Feb 21
28 Feb 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 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) 59.97M 59.97M 59.97M 59.97M 59.97M 59.97M
Cash burn (monthly) 40.65M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 80.5M n/a n/a n/a n/a n/a
Cash remaining -20.53M n/a n/a n/a n/a n/a
Runway (months of cash) -0.5 n/a 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 Feb 21 Elizabeth A Blankenship Common Stock Payment of exercise Dispose F No No 76.26 3 228.78 1,555
19 Feb 21 Elizabeth A Blankenship Common Stock Grant Aquire A No No 0 7 0 1,558
19 Feb 21 Elizabeth A Blankenship Common Stock Payment of exercise Dispose F No No 76.26 56 4.27K 1,551
19 Feb 21 Elizabeth A Blankenship Common Stock Option exercise Aquire M No No 0 172 0 1,607
19 Feb 21 Elizabeth A Blankenship Common Stock Sale back to company Dispose D No No 76.26 56 4.27K 1,435
19 Feb 21 Elizabeth A Blankenship Common Stock Option exercise Aquire M No No 0 56 0 1,491
19 Feb 21 Elizabeth A Blankenship Common Stock Sale back to company Dispose D No No 76.26 65 4.96K 1,435
19 Feb 21 Elizabeth A Blankenship Common Stock Option exercise Aquire M No No 0 65 0 1,500
19 Feb 21 Elizabeth A Blankenship Common Stock Sale back to company Dispose D No No 76.26 63 4.8K 1,435
19 Feb 21 Elizabeth A Blankenship Common Stock Option exercise Aquire M No No 0 63 0 1,498
82.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 503 499 +0.8%
Opened positions 61 68 -10.3%
Closed positions 57 58 -1.7%
Increased positions 173 169 +2.4%
Reduced positions 175 174 +0.6%
13F shares
Current Prev Q Change
Total value 7.46B 8B -6.8%
Total shares 93.33M 93.05M +0.3%
Total puts 81K 75.5K +7.3%
Total calls 123.5K 97.9K +26.1%
Total put/call ratio 0.7 0.8 -15.0%
Largest owners
Shares Value Change
Vanguard 12.79M $1.02B -1.4%
BLK Blackrock 10.39M $830.46M -1.6%
STT State Street 6.13M $490.12M -3.4%
BEN Franklin Resources 4.24M $339.14M +4.8%
American Century Companies 3.89M $310.99M +1.1%
Wellington Management 3.85M $307.51M +23.7%
Massachusetts Financial Services 2.86M $228.54M +5.0%
AMP Ameriprise Financial 2.4M $192.11M +77.7%
FMR 2.04M $163.39M +60.6%
Geode Capital Management 2.03M $161.9M +3.2%
Largest transactions
Shares Bought/sold Change
Mitsubishi UFJ Trust & Banking 1.5M +1.39M +1220.1%
AMP Ameriprise Financial 2.4M +1.05M +77.7%
Ajo 81.72K -862.72K -91.3%
CNS Cohen & Steers 0 -780.38K EXIT
FMR 2.04M +770.97K +60.6%
Wellington Management 3.85M +735.77K +23.7%
GS Goldman Sachs 299.27K -502.68K -62.7%
Adage Capital Partners GP, L.L.C. 123.48K -497.58K -80.1%
APG Asset Management 661.87K +444.06K +203.9%
PUKPF Prudential 615.91K -400.25K -39.4%

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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