PINNACLE WEST CAPITAL CORP
boothcheck covers PINNACLE WEST CAPITAL CORP (PNW) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed June 27, 2026.
- The balance sheet carries roughly $11 billion of net debt against trailing operating income near $1.14 billion, with interest coverage around 2.6 times. This is a capital-intensive regulated utility funding a large build, so the leverage is the business model, but it leaves little slack if the regulator denies recovery. - At $102.35 the price sits below where most static valuation frames land. Asset-based, earnings-power, and peer-multiple methods all read the price as full to rich, while only
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677 institutional managers reported holding PNW in 13F filings for the quarter ended 2026-03-31. 82 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 9.6M shares were sold short as of the 2026-06-15 count, about 8% of shares outstanding (7.6 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
PNW's share count grew 7.5% over the past five years even with $18.85M spent on repurchases. It pays a dividend, and has paid one every year in our records (17 and counting), raised 14 years straight; the current rate is $3.61 a share annually. Cash returned over the past three years: $1.12B in dividends and $7.76M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at PNW over the trailing three years: 2024: 1 buy totaling $43k. 13 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
PNW's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-05-05 | +2.1% | +2.2% |
| 2023-08-04 | -4.9% | -7.8% |
| 2023-11-03 | -2.1% | +0.5% |
| 2024-02-28 | -3.4% | +12.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
PNW's latest 8-K filings: 2026-08-13 (items 9.01); 2026-08-07 (items 7.01, 9.01); 2026-08-04 (items 1.01, 9.01); 2026-08-04 (items 2.02, 7.01, 9.01); 2026-06-29 (items 5.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.