Pinnacle West Capital Corp
PNW: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$36.00 | Qsjzn | Zkydcsmt |
Pinnacle West: Regulatory Success, Demand Growth Brighten Outlook
We are reaffirming our $77 fair value estimate for Pinnacle West after the company reported earning $4.41 per share in 2023 and received a final decision in its 2022 rate review. Weather-adjusted earnings and the rate review outcome were in line with our outlook. We are reaffirming our narrow moat rating.