Pinnacle West Capital Corp (PNW) reached a new 52-week high of $96.75, with the stock currently trading at $96.95. The stock has delivered a 12.23% total return over the past year. The company is part of the utilities sector, which is experiencing a broad rally. PNW offers a dividend yield of 3.79% and maintains a P/E ratio of 19.42. The company has maintained dividend payments for 34 consecutive years. KeyBanc recently downgraded the stock to Sector Weight, citing anticipated delays in benefits from the company's Formula Rate Plan transition, with substantial improvements not expected until 2025. The broader utilities sector is rallying as US clean energy financing faces uncertainty due to lack of clarity from the Trump administration regarding tax rules related to China ties, causing major banks to hold back on renewable energy project financing.
Read full analysisPinnacle West Capital Corp (PNW) reached a new 52-week high of $96.75, with the stock currently trading at $96.95. The stock has delivered a 12.23% total return over the past year. The company is part of the utilities sector, which is experiencing a broad rally. PNW offers a dividend yield of 3.79% and maintains a P/E ratio of 19.42. The company has maintained dividend payments for 34 consecutive years. KeyBanc recently downgraded the stock to Sector Weight, citing anticipated delays in benefits from the company's Formula Rate Plan transition, with substantial improvements not expected until 2025. The broader utilities sector is rallying as US clean energy financing faces uncertainty due to lack of clarity from the Trump administration regarding tax rules related to China ties, causing major banks to hold back on renewable energy project financing.
Pinnacle West Capital is the parent company of Arizona Public Service, the largest electric utility in Arizona, serving over 1.3 million customers. The company has maintained dividend payments for 34 consecutive years, making it a classic defensive income stock. Its exposure to clean energy policy — including the recent cancellation of a $1.8B federal loan — makes it sensitive to the regulatory shifts currently driving sector-wide volatility.