Pinnacle West Capital Corp

PNW: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$62.00	Nnjn	Rccwxpjy

Pinnacle West Should Benefit From Arizona's Electricity Demand Growth

Travis Miller

Jun 4, 2024

Business Strategy and Outlook

Pinnacle West had been earning solid returns and rewarding shareholders with dividend increases for nearly a decade as customer and energy usage growth in Arizona outpaced most other utilities. But that changed with a major regulatory setback in 2021, slowing earnings and dividend growth.

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