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Jacob Tetlow, Executive Vice President and Chief Operating Officer of Arizona Public Service (APS), a subsidiary of Pinnacle West Capital Corp (NYSE:PNW), recently sold shares valued at $212,231. The utility company, currently valued at $11.1 billion, has seen its stock surge 42.7% over the past year and is trading near its 52-week high of $95.42. The transactions, reported in a recent SEC filing, involved the sale of 2,272 shares of Pinnacle West common stock. The shares were sold on March 3 at prices ranging from $93.40 to $93.44 per share. Following these transactions, Tetlow retains direct ownership of 56 shares and an additional 2,473 shares held indirectly through a 401(k) plan. According to InvestingPro, Pinnacle West has maintained dividend payments for 33 consecutive years and raised them for 13 straight years, demonstrating strong financial stability. For deeper insights and additional analysis, including 8 more key ProTips, explore Pinnacle West’s comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Pinnacle West Capital Corporation reported a fourth-quarter 2024 loss of $0.06 per share, which was better than the anticipated loss of $0.17 per share. The company also exceeded revenue expectations, bringing in $1.1 billion compared to the forecast of $1.02 billion. Pinnacle West reaffirmed its long-term earnings per share (EPS) growth guidance of 5% to 7%, and the company anticipates weather-normalized sales growth of 4% to 6% in 2025. The firm plans to file a rate case by mid-2025, with potential implementation by the end of 2026. Analysts noted that Pinnacle West’s performance in the fourth quarter showcased resilience, with strong sales growth and a favorable rate case outcome contributing to these results. The company also highlighted risks, such as potential legislative changes related to wildfire mitigation and the implementation of formula rates. Pinnacle West’s executives have expressed a commitment to maintaining reliable and affordable service amidst Arizona’s economic and population growth.
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