Pinnacle West Capital's EVP and COO sells shares worth $860,239

Jacob Tetlow, Executive Vice President and Chief Operating Officer of Arizona Public Service (APS), a subsidiary of Pinnacle West Capital Corp (NYSE:PNW), has sold 9,474 shares of the company's common stock. The shares were sold at a price of $90.80 each, totaling approximately $860,239. Following this transaction, Tetlow retains direct ownership of 56 shares. Additionally, he holds 2,473 shares indirectly through a 401(k) plan. Pinnacle West Capital is a major provider of electric services in Arizona.

In other recent news, Pinnacle West Capital Corporation (NYSE:PNW) has reported its third-quarter earnings for 2024. The earnings call, led by Chairman and CEO Jeff Guldner and CFO Andrew Cooper, provided detailed financial information and forward-looking statements. These statements, as the company emphasized, are based on current forecasts and could materially differ from actual results. The company's third-quarter Form 10-Q, containing these details, was filed and is accessible on the Pinnacle West Investor Relations website.

While no specific bullish highlights or misses were mentioned during the call, the executives did caution about potential risks that could affect future performance. This cautionary note is a reminder of the inherent uncertainty in forward-looking statements, and the company advises stakeholders to review the risk factors carefully. These recent developments provide investors and analysts with insights into the company's financial health and future direction.

InvestingPro Insights

As we consider Jacob Tetlow's recent stock sale at Pinnacle West Capital Corp (NYSE:PNW), it's worth examining some key financial metrics and insights provided by InvestingPro to gain a broader perspective on the company's current standing.

Pinnacle West Capital Corp has demonstrated strong financial performance and shareholder value. According to InvestingPro data, the company boasts a market capitalization of $10.39 billion and a P/E ratio of 16.82, suggesting a reasonable valuation relative to its earnings. This is further supported by an InvestingPro Tip indicating that PNW is trading at a low P/E ratio relative to its near-term earnings growth, with a PEG ratio of 0.61 for the last twelve months as of Q3 2024.

The company's commitment to shareholder returns is evident in its dividend history. An InvestingPro Tip highlights that Pinnacle West has raised its dividend for 13 consecutive years and has maintained dividend payments for 32 consecutive years. This consistent dividend growth, coupled with a current dividend yield of 3.92%, may be attractive to income-focused investors.

Pinnacle West's financial health appears robust, with revenue growth of 6.52% and an impressive EBITDA growth of 17.51% for the last twelve months as of Q3 2024. The company's profitability is also noteworthy, with a gross profit margin of 41.81% and an operating income margin of 20.89% over the same period.

It's important to note that while the company shows strong fundamentals, an InvestingPro Tip cautions that Pinnacle West operates with a significant debt burden. This factor should be considered alongside the positive indicators when evaluating the company's overall financial position.

For investors seeking a more comprehensive analysis, InvestingPro offers 10 additional tips for Pinnacle West Capital Corp, providing a deeper dive into the company's financial health and market position.

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