PNW Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $95.92
P/E (TTM) 18.4
EPS (TTM) $5.21
Revenue (TTM) $5.55B
ROE (TTM) 9.5%
Debt/Equity (MRQ) 1.6
52W Range $86–$111

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About Pinnacle West Capital Corporation Common Stock Company overview from Wikipedia

05 · wikidata

Pinnacle West Capital Corporation is an American utility holding company that owns Arizona Public Service (APS). It is publicly traded on the New York Stock exchange and a component of the S&P 500 stock market index. APS is the largest utility company in Arizona and is regulated by the Arizona Corporation Commission (ACC).

History

In 1886, the Phoenix Light and Fuel Company was formed to provide electricity and heat to the people of the three-year-old town of Phoenix. In 1901, it built two hydroelectric power stations to provide power to Phoenix.

It changed its name to Pacific Gas and Electric Company in 1906 and to Central Arizona Light and Power in 1920. The Childs-Irving Hydroelectric Facilities, began producing power in 1909 to support local mining operations. The company began paying an annual dividend from 1920, and continued to do so without interruption until 1989.

The company became a subsidiary of the giant conglomerate American Power and Light in 1925, but became an independent company once again in 1945. In 1949, it merged with Northern Arizona Power and Light. In 1952, it merged with Arizona Edison and changed its name to Arizona Public Service.

The stock doubled in price through the long bear market of the 1970s, while paying a 10% dividend yield. By then it had become an electric and natural gas utility fueled 94.4% by coal plants, 5.2% by natural gas, and 0.4% by oil. The company traded its common stock on the New York Stock Exchange, and in 1976, the company issued a preferred stock (formerly NYSE: PR ARP PR) with a 10.5% dividend, callable in 1990. APS also performed well through the early 1980s recession, reaching peak earnings of over US$255 million in 1983. However, by then the company had accumulated over US$2.1 billion in long-term debt.

In 1982, APS issued another preferred stock (formerly NYSE: PR O ARP PR O) with an 11.9% dividend, callable in 1987. And in 1983, it issued a third preferred stock (formerly NYSE: PR Q ARP PR Q) paying an adjustable rate between 6 and 12%, through 1986. 1984 was a down year for both earnings and the stock price, which at its low that year had lost almost half its value from the 1983 peak.

In February 1985, Arizona Public Service Company reorganized as a holding company, AZP Group Inc., with APS as the leading subsidiary. It traded under the ticker symbol AZP. 1985 earnings reached a new record high at almost US$290 million, and by the end of the year the stock price had doubled from its 1984 low.

In 1987, AZP Group changed its name to Pinnacle West Capital Corporation, and began trading under the new ticker symbol PNW. The utility continued to operate as its principal subsidiary. By then Pinnacle's long-term debt had grown to almost US$2.4 billion. Earnings had declined to US$260 million in 1986, but were recovering by the end 1987. However, the stock price reached an all-time peak that year, which was not surpassed for the next decade, as the company ran into troubles through the early 1990s. In 1986, Pinnacle acquired MeraBank, a savings and loan association. It grew to become Arizona's largest thrift, with $6.5 billion in assets. However, the thrift was seized by federal regulators in January 1990, due in part to the deterioration in prices in the Arizona real estate market.

By 1990, the company's earnings had fallen to under US$100 million, as it struggled through the 1990-1991 recession, as well as a series of failed attempts to diversify. By 1991, the company was facing a loss of almost US$190 million, and discontinued paying its dividend. APS and its predecessors had paid a dividend without interruption since 1920. The stock price plunged 85% from its 1987 peak, to its lowest level in over twenty years. Its long-term debt by then reached over US$2.5 billion. However, by 1992, the company returned to profitability, as earnings recovered to over US$150 million. The stock price tripled from its 1991 low by the end of 1993. The company reinstated its dividend that year. The company faced a variety of regulatory disputes due to its operation of Palo Verde and treatment of whistleblowers. It was ordered by the Department of Labor to pay a whistleblower $50,000 in compensation. In 1993, a similar incident resulted in additional compensation for another employee.

By 1995, Pinnacle West Capital had been added to the S&P MidCap 400 index. That year, earnings surpassed US$200 million again, and by early the next year the stock price began approaching its old 1987 high. Also in 1995, the utility subsidiary Arizona Public Services issued 30-year Monthly Income Debt Securities paying 10%. The first solar plant in Arizona was opened by Pinnacle West in Flagstaff in 1997. In the wake of the Enron scandal, Pinnacle West lost over $13 million. This represents 25% of their expected earnings for that quarter. Prior to 2010, Pinnacle West developed real estate through its Suncor subsidiary.

On September 8, 2011, there was a widespread power outage affecting a region spreading west from Yuma, Arizona, to San Diego, California, and affecting parts of Northern Mexico. The outage was the result of 23 events that occurred on five power grids in a span of 11 minutes including the APS North Gila Substation. Most of the areas affected were served by San Diego Gas & Electric, which saw its entire service area lose power.

The outage was caused by the actions of an APS employee in the North Gila substation, and it is unknown why safeguards did not keep the outage limited to the Yuma area. The outage occurred days before the tenth anniversary of the September 11 attacks, and hours before the United States Department of Homeland Security warned of a potential terrorist attack leading up to the anniversary, but the Federal Bureau of Investigation and SDG&E early in their investigations ruled out terrorism.

On July 7, 2014, APS agreed to a $3.25 million settlement with NERC and FERC related to the September 2011 blackout.

On September 7, 2018, APS cut off the power to 72-year-old retiree Stephanie Pullman, due to a $51 overdue electric bill. The same day, the temperature in Phoenix hit 107 °F (42 °C). Within a week, Pullman had died from heat exposure. Her death sparked statewide media coverage and street protests over APS's disconnect policy. The incident led to Arizona regulators banning power shutoffs on hot summer days, which was eventually expanded to include all days between June 1 and October 15th.

Service territory

APS serves about two-thirds of the Phoenix metropolitan area. It primarily serves downtown and northern Phoenix, a large swath to the north and west of the city, and the downtown areas of Chandler, Gilbert, Glendale, Peoria, Scottsdale and Tempe. Outside of the Valley, it serves Flagstaff, Prescott, Yuma and Douglas.

Power Plants

Pinnacle West owns and operates a number of power plants through its Arizona Public Service company which it wholly owns. Most of the power Pinnacle West supplies, as well as most of the power for the state of Arizona, is generated by these plants.

Coal

Pinnacle West owns three coal plants Cholla Power Plant, Four Corners Generating Station, and Navajo Generating Station (operated by Salt River Project). The coal is primarily supplied by long-term leases from landowners in the Navajo Nation. The Navajo generating plant ceased operations in 2019, with the site remediated and the land turned over to the Navajo Nation in March of 2024. In 2021, APS and the owners of Four Corners entered into an agreement where one of the two remaining units would be shut down seasonally during winter and spring, but remain operational during the summer which is the peak season for energy demand. As of February 25, 2026, APS has elected to not begin seasonal operations. Cholla ceased operations in March 2025. This has resulted in the Arizona energy market consuming hundreds of MWh less of coal produced energy.

Nuclear

Pinnacle West operates and partially owns the Palo Verde Nuclear Generating Station. Pinnacle West has been in lawsuits with the Department of Energy over the Yucca Mountain nuclear waste repository since 2003. In 2023, the Department of Energy approved its ninth settlement with Pinnacle West all these settlements have totaled $36 million in awarded damages for Pinnacle West. The plant has enough storage for spent fuel to store its waste through 2047.

Natural Gas

Pinnacle West owns and operates six natural gas or oil based energy generators. In 2019, it completed modernizing Ocotillo, one of the gas based plants resulting in an increase from 290MW to 690MW.

Solar

Pinnacle West owns and operates two utility scale solar systems as well as thirty small scale facilitates. AZ Sun received $675 million in Pinnacle West investment and provides up to 180MW. Red Rock solar plant produces 44MW which are sold for energy credits to institutional buyers. Small scale facilities are expanding to Pinnacle West owned systems government owned rooftops and residential programs. Pinnacle West spent millions in lobbying dollars during 2012 election of ACC. This campaign was part of a larger effort to reduce net metering. In 2017, this resulted in the complete stoppage of net metering.

Planned

Pinnacle West plans to build 1200MW of energy storage. This would be nearly all of Arizona's energy storage capacity. In 2022, Pinnacle West planned to increase renewable energy production by 50% of its 2023 level by 2025.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

sectorUtilities industryUtilities employees6,610 countryUS

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$5.34B
2016-12-31 → 2025-12-31
EPS$5.05
2016-12-31 → 2025-12-31
Free Cash Flow$-820M
2016-12-31 → 2025-12-31
Net margin11.7%
2016-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend PNW 5Y avg Peer Median Verdict
P/E (TTM) 18.45Y avg ≈16.2 ≈16.2 22.0 Undervalued
PEG Ratio ≈25.2 · · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Dividends Yield, payout ratio, dividend history, 5Y CAGR

13
Payout Ratio66.9%
Annualized Payout≈$3.64Paid quarterly
5Y Div CAGR≈2.7%Per share, split-adjusted
Growth Streak≈14Consecutive years of dividend growth
Ex-dateAmountCurrencyYield
Aug 3, 2026$0.91USD≈3.6%
May 4, 2026$0.91USD≈3.6%
Feb 2, 2026$0.91USD≈3.9%
Nov 3, 2025$0.91USD≈4.0%
Aug 1, 2025$0.90USD≈3.9%
May 5, 2025$0.90USD≈3.8%
Feb 3, 2025$0.90USD≈4.1%
Nov 4, 2024$0.90USD≈4.1%
Aug 1, 2024$0.88USD≈4.0%
Apr 30, 2024$0.88USD≈4.8%
Jan 31, 2024$0.88USD≈5.1%
Oct 31, 2023$0.88USD≈4.7%
Jul 31, 2023$0.87USD≈4.2%
Apr 28, 2023$0.87USD≈4.4%
Jan 31, 2023$0.87USD≈4.6%
Oct 31, 2022$0.87USD≈5.1%
Jul 29, 2022$0.85USD≈4.6%
Apr 29, 2022$0.85USD≈4.7%
Jan 31, 2022$0.85USD≈4.8%
Nov 15, 2021$0.85USD≈5.1%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 371.7%
Next Report Nov 02, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 4, 2026 $1.43 $1.48 -3.4%
March 31, 2026 $0.27 $-0.01 2331.4%
Dec. 31, 2025 $0.13 $0.04 217.1%
Sept. 30, 2025 $3.39 $3.15 7.7%
June 30, 2025 $1.58 $1.61 -1.6%
March 31, 2025 $-0.04 $0.02 -321.0%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 15
Metric Trend 202520242023202220212020201920182017201620152014
Revenue $5.34B$5.12B$4.70B$4.32B$3.80B$3.59B$3.47B$3.69B$3.57B$3.50B$3.50B$3.49B
Cost of Revenue ·······$1.08B$981M$1.08B··
Operating Expenses $4.27B$4.11B$3.87B$3.59B$3.00B$2.80B$2.80B$2.92B$2.66B$2.66B$2.64B$2.68B
Operating Income $1.07B$1.01B$825M$732M$805M$788M$672M$774M$910M$836M$855M$811M
Interest Expense ··$331M$256M$233M$229M$217M$218M$198M$186M$179M$185M
Interest Income $18M$24M$27M$7M$7M$12M$10M$9M$3M$884.0K$493.0K$1M
Other Non-op $93M$102M$102M$99M$174M$89M$87M$109M$54M$48M$18M$19M
Pretax Income $738M$737M$596M········$644M
Income Tax $107M$111M$77M$75M$110M$78M$-16M$134M$258M$236M$238M$221M
Net Income $632M$626M$519M$501M$636M$570M$558M$531M$508M$462M$456M$424M
EPS (Basic) $5.15$5.35$4.42$4.27$5.48$4.89$4.79$4.56$4.37$3.97$3.94$3.59
EPS (Diluted) $5.05$5.24$4.41$4.26$5.47$4.87$4.77$4.54$4.35$3.95$3.92$3.58
Shares (Basic) 119,687,000113,846,000113,442,000113,196,000112,910,000112,666,000112,443,000112,129,000111,839,000111,409,000111,026,000110,626,000
Shares (Diluted) 121,971,000116,232,000113,804,000113,416,000113,192,000112,942,000112,758,000112,550,000112,367,000112,046,000111,552,000111,178,000
EBITDA $2.04B$1.97B$1.68B$1.55B$1.52B$1.47B$1.34B$1.42B$1.55B$1.42B$1.43B$1.31B
Balance Sheet 23
Metric Trend 202520242023202220212020201920182017201620152014
Cash & Equivalents $7M$4M$5M$5M$10M$60M$10M$6M$14M$9M$39M$8M
Other Current Assets $109M$75M$101M$60M$84M$77M$62M$56M$48M$45M$37M$39M
Current Assets $1.70B$1.69B$1.93B$1.75B$1.55B$1.20B$1.03B$925M$1.02B$822M$891M$973M
PP&E (Net) $18.36B$16.83B$15.80B$14.52B$14.18B$13.73B$13.20B$12.37B$11.67B$11.37B$10.63B$10.15B
PP&E (Gross) $27.37B$25.86B$24.21B$22.45B$21.69B$20.84B$19.84B$18.74B$17.80B$17.34B$16.22B$15.54B
Accum. Depreciation $9.01B$9.03B$8.41B$7.93B$7.50B$7.11B$6.64B$6.37B$6.13B$5.97B$5.59B$5.40B
Intangibles $576M$591M$267M$259M$274M$283M$291M$263M$257M$90M$124M$120M
Other Non-current Assets $145M$115M$103M$126M$98M$91M$97M$103M$52M$69M$53M$54M
Total Assets $30.03B$26.10B$24.66B$22.72B$22.00B$20.02B$18.48B$17.66B$17.02B$16.00B$15.03B$14.29B
Accounts Payable $680M$485M$442M$430M$393M$319M$346M$277M$256M$265M$297M$295M
Short-term Debt $757M$568M$610M$341M$292M$169M$115M$76M$95M$177M$0$147M
Current Liabilities $3.16B$2.84B$2.89B$1.76B$1.76B$1.36B$2.08B$1.65B$1.20B$1.29B$1.44B$1.56B
Capital Leases $3.55B$1.52B$1.21B$639M$728M$361M$52M$0····
Deferred Tax $2.47B$2.44B$2.42B$2.38B$2.31B$2.14B$1.99B$1.81B$1.69B$2.95B$2.72B$2.58B
Other Non-current Liabilities $249M$242M$251M$247M$233M$191M$160M$148M$149M$157M$186M$188M
Long-term Debt $9.81B$8.86B$8.42B·········
Total Debt $10.56B$9.43B$8.15B$8.08B$7.21B$6.48B$4.95B$4.71B$4.89B$4.20B$3.46B$3.18B
Common Stock $3.23B$3.12B$2.75B$2.72B$2.70B$2.68B$2.66B$2.63B$2.61B$2.60B$2.54B$2.51B
Retained Earnings $3.85B$3.67B$3.47B$3.36B$3.26B$3.03B$2.84B$2.64B$2.44B$2.26B$2.09B$1.93B
Treasury Stock $3M$3M$8M$5M$6M$6M$9M$5M$6M$4M$6M$3M
AOCI $-32M$-31M$-33M$-31M$-55M$-63M$-57M$-48M$-45M$-44M$-45M$-68M
Stockholders' Equity $7.05B$6.75B$6.18B$6.05B$5.91B$5.63B$5.43B$5.22B$5.01B$4.80B$4.58B$4.37B
Liabilities + Equity $30.03B$26.10B$24.66B$22.72B$22.00B$20.02B$18.48B$17.66B$17.02B$16.00B$15.03B$14.29B
Cash Flow 19
Metric Trend 202520242023202220212020201920182017201620152014
D&A $970M$956M$854M$818M$719M$686M$664M$651M$611M$565M$572M$496M
Stock-based Comp $27M$24M$17M$16M$18M$18M$18M$20M$21M$19M$19M$33M
Deferred Tax $-51M$-21M$-24M$43M$117M$69M$-1M$117M$248M$207M$237M$159M
Amort. of Intangibles $157M$136M$90M$84M$80M$70M$66M$68M$72M$58M$58M$53M
Other Non-cash $227M$25M$-158M$-136M$-631M$-378M$-282M$-41M$-269M$-229M$-170M$20M
Operating Cash Flow $1.81B$1.61B$1.21B$1.24B$860M$966M$957M$1.28B$1.12B$1.02B$1.09B$1.10B
CapEx $2.62B$2.25B$1.85B$1.71B$1.47B$1.33B$1.19B$1.18B$1.41B$1.28B$1.08B$911M
Investing Cash Flow $-2.38B$-1.93B$-1.69B$-1.62B$-1.39B$-1.28B$-1.13B$-1.19B$-1.43B$-1.25B$-1.07B$-923M
Debt Issued ··$689M$876M$747M$1.60B$1.09B$445M$848M$693M$842M$731M
Net Debt Issued ··$657M$726M$747M$682M$492M$263M$723M$323M$427M$79M
Stock Issued ··$-4M$-3M$-2M$-1M$692.0K$-5M$-13M$-5M$19M$15M
Stock Repurchased ··$4M$3M········
Net Stock Activity ··$-4M$-3M$-2M$-1M$692.0K$-5M$-13M$-5M$19M$15M
Dividends Paid $423M$395M$386M$379M$369M$351M$330M$309M$290M$274M$260M$247M
Financing Cash Flow $576M$323M$487M$371M$477M$361M$179M$-92M$316M$198M$4M$-179M
Net Change in Cash $3M$-1M$123.0K$-5M$-50M$50M$5M$-8M$5M$-31M$32M$-2M
Taxes Paid $23M$113M$9M$46M$229.0K$-3M$13M$21M$2M$10M$7M$-102M
Free Cash Flow $-820M$-639M$-639M$-466M$-613M$-360M$-235M$99M$-291M$-252M$18M$189M
Levered FCF ···········$67M
Profitability 7
Metric Trend 202520242023202220212020201920182017201620152014
Operating Margin 20.0%19.8%17.6%16.9%21.2%22.0%19.4%21.0%26.2%24.5%24.4%23.2%
Net Margin 11.8%12.2%11.1%11.6%16.7%15.9%16.1%14.4%14.2%13.2%13.1%12.1%
Pretax Margin 13.8%··········18.5%
EBITDA Margin 38.1%38.4%35.8%35.8%40.1%41.1%38.5%38.6%43.3%40.6%40.8%37.5%
ROA 2.2%2.5%2.2%2.2%3.0%3.0%3.1%3.1%3.1%3.0%3.1%3.0%
ROE 9.2%9.7%8.5%8.4%11.0%10.3%10.5%10.4%10.4%9.8%10.2%9.9%
ROIC 5.2%··········7.1%
Liquidity & Solvency 5
Metric Trend 202520242023202220212020201920182017201620152014
Current Ratio 0.50.60.71.00.90.90.50.60.80.60.60.6
Quick Ratio 0.00.00.00.00.00.00.00.00.00.00.00.0
Debt / Equity 1.51.41.31.31.21.20.90.91.00.90.80.7
LT Debt / Equity 1.31.21.21.31.21.10.90.91.00.80.80.7
Interest Coverage ··2.52.93.53.43.13.54.74.64.84.4
Efficiency 1
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 0.20.20.20.20.20.20.20.20.20.20.20.3
Per Share 4
Metric Trend 202520242023202220212020201920182017201620152014
Revenue / Share $43.78$44.09$41.26$38.13$33.61$31.76$30.78$32.80$31.73$31.23$31.33$31.41
Cash Flow / Share $14.80$13.85$10.61$10.95$7.60$8.56$8.48$11.35$9.95$9.13$9.81$9.89
Dividend / Share $3.61$3.55$3.49$3.43$3.36$3.23$3.04$2.87$2.70$2.56$2.44$2.33
EPS (TTM) $5.05$5.24$4.41$4.26$5.47$4.87$4.77$4.54$4.35$3.95$3.92$3.58
Growth Rates 10
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY 4.2%9.1%8.6%13.7%6.0%·······
Revenue CAGR 3Y 7.3%10.4%9.4%·········
Revenue CAGR 5Y 8.3%···········
EPS YoY -3.6%18.8%3.5%-22.1%12.3%·······
EPS CAGR 3Y 5.8%-1.4%-3.2%·········
EPS CAGR 5Y 0.73%···········
Net Income YoY 0.90%20.7%3.6%-21.2%11.6%·······
Net Income CAGR 3Y 8.0%-0.52%-3.1%·········
Net Income CAGR 5Y 2.1%···········
Dividends Paid CAGR 5Y 3.8%···········
Valuation (TTM) 6
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM $5.34B$5.12B$4.70B$4.32B$3.80B$3.59B$3.47B$3.69B$3.57B$3.50B$3.50B$3.49B
Net Income TTM $632M$626M$519M$501M$636M$570M$558M$531M$508M$462M$456M$424M
P/E 17.616.216.317.812.916.418.918.819.619.816.419.1
Earnings Yield 5.7%6.2%6.1%5.6%7.8%6.1%5.3%5.3%5.1%5.1%6.1%5.2%
Payout Ratio 66.9%63.0%74.5%75.6%58.1%61.5%59.1%58.2%57.0%59.4%57.0%58.2%
Annual Payout $423M$395M$386M$379M$369M$351M$330M$309M$290M$274M$260M$247M

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $5.34B $5.12B $4.70B $4.32B $3.80B
Operating Margin % 20.0% 19.8% 17.6% 16.9% 21.2%
Net Income $632M $626M $519M $501M $636M
Diluted EPS $5.05 $5.24 $4.41 $4.26 $5.47

Institutional owners (13F) 776 filers · $15.4B total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 776
Value held $15.4B
New positions 79
Exited positions 50
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
79 (-34 vs prior Q) 50 (+10 vs prior Q) 294 (+34 vs prior Q) 203 (+14 vs prior Q) +11.2M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
Capital Research Global Investors $1,764,873,729 16,494,147 11.44% Shares
VANGUARD GROUP INC $1,300,444,892 14,661,160 8.43% Shares
BlackRock, Inc. $1,260,769,855 11,782,896 8.17% Shares
VANGUARD CAPITAL MANAGEMENT LLC $845,024,582 7,897,426 5.48% Shares
STATE STREET CORP $750,802,201 7,016,843 4.87% Shares
BARROW HANLEY MEWHINNEY & STRAUSS LLC $703,597,867 6,575,681 4.56% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $640,583,106 5,986,758 4.15% Shares
ATLAS Infrastructure Partners (UK) Ltd. $570,548,182 5,332,226 3.70% Shares
Invesco Ltd. $446,560,220 4,173,460 2.89% Shares
Soroban Capital Partners LP $414,622,539 3,874,977 2.69% Shares
GEODE CAPITAL MANAGEMENT, LLC $344,314,683 3,223,551 2.23% Shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ $305,344,295 2,853,685 1.98% Shares
TWO SIGMA INVESTMENTS, LP $269,356,129 2,517,347 1.75% Shares
MORGAN STANLEY $204,802,771 1,914,042 1.33% Shares
BARCLAYS PLC $188,348,997 1,760,271 1.22% Shares
GOLDMAN SACHS GROUP INC $171,480,171 1,602,618 1.11% Shares
WELLINGTON MANAGEMENT GROUP LLP $155,892,687 1,456,941 1.01% Shares
AMERICAN CENTURY COMPANIES INC $154,583,377 1,444,702 1.00% Shares
Pictet Asset Management Holding SA $150,918,899 1,410,457 0.98% Shares
TWO SIGMA ADVISERS, LP $147,081,542 1,658,191 0.95% Shares
DIMENSIONAL FUND ADVISORS LP $146,903,838 1,372,876 0.95% Shares
Nuveen, LLC $143,709,912 1,343,084 0.93% Shares
NORGES BANK $139,625,263 1,304,909 0.91% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $126,085,911 1,178,373 0.82% Shares
FMR LLC $123,948,989 1,158,402 0.80% Shares
Bank of New York Mellon Corp $117,478,420 1,097,929 0.76% Shares
FRANKLIN RESOURCES INC $116,366,189 1,087,534 0.75% Shares
ADAGE CAPITAL PARTNERS GP, L.L.C. $109,245,181 1,020,983 0.71% Shares
Brookfield Corp /ON/ $102,914,847 961,821 0.67% Shares
NORTHERN TRUST CORP $102,411,198 957,114 0.66% Shares
UBS Group AG $99,067,876 925,868 0.64% Shares
FIRST TRUST ADVISORS LP $98,753,881 922,934 0.64% Shares
REAVES W H & CO INC $97,775,102 913,786 0.63% Shares
Empower Advisory Group, LLC $96,480,426 901,686 0.63% Shares
Squarepoint Ops LLC $94,335,052 881,636 0.61% Shares
BANK OF AMERICA CORP /DE/ $81,992,909 766,289 0.53% Shares
CINCINNATI FINANCIAL CORP $78,052,220 729,460 0.51% Shares
VANGUARD FIDUCIARY TRUST CO $72,818,208 680,544 0.47% Shares
DUFF & PHELPS INVESTMENT MANAGEMENT CO $66,867,510 624,930 0.43% Shares
Quantinno Capital Management LP $66,857,176 624,833 0.43% Shares
Perpetual Ltd $65,130,686 608,698 0.42% Shares
HSBC HOLDINGS PLC $64,952,138 606,558 0.42% Shares
Epoch Investment Partners, Inc. $62,955,590 588,370 0.41% Shares
Legal & General Group Plc $61,683,469 576,481 0.40% Shares
VICTORY CAPITAL MANAGEMENT INC $52,336,696 489,128 0.34% Shares
Gotham Asset Management, LLC $50,783,805 474,615 0.33% Shares
Newport Trust Company, LLC $48,342,814 451,802 0.31% Shares
Balyasny Asset Management L.P. $47,011,199 439,357 0.30% Shares
RENAISSANCE TECHNOLOGIES LLC $46,545,000 435,000 0.30% Shares
AQR CAPITAL MANAGEMENT LLC $46,308,771 432,833 0.30% Shares

Show all 776 institutional owners →

Company insiders 64 insiders · 16 officers · 30 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Theodore N Geisler Chairman, CEO and President March 18, 2026 G 50,003 0 0 $0
Jeffrey B. Guldner Chairman, President and CEO March 18, 2025 F 137,330 0 0 $0
James R Hatfield EVP, Advisor to CEO Nov. 9, 2021 S 25,743 0 0 $0
Donald E Brandt Chairman, President & CEO Oct. 22, 2019 F 82,149 0 0 $0
Andrew D Cooper SVP & CFO March 18, 2026 F 29,053 0 0 $0
Elizabeth A Blankenship VP, Controller and CAO Aug. 10, 2026 S 10,886 0 1 $-97,177
Shirley A Baum SVP and GC March 18, 2026 F 5,846 0 0 $0
Christopher R. Bauer VP and Treasurer Feb. 20, 2026 M 494 0 0 $0
Paul J Mountain VP, Finance and Planning May 6, 2025 S 3,421 0 0 $0
Robert Edgar Smith EVP, CLO, and CDO March 18, 2025 F 18,328 0 0 $0
Lee R. Nickloy VP Feb. 25, 2020 S 0 0 0 $0
Denise R Danner VP, Controller & CAO Feb. 27, 2019 S 6,479 0 0 $0
David P Falck EVP, Law Feb. 20, 2018 A 44,881 0 0 $0
Chris N Froggatt VP & Treasurer, PNW & APS Aug. 24, 2009 S 21,100 0 0 $0
Nancy C Loftin SVP, General Counsel & Secy Feb. 20, 2009 M 27,948 0 0 $0
Robert S Aiken Vice President Feb. 6, 2004 S 5,026 0 0 $0
Susan T. Flanagan Director May 14, 2026 A 750 0 0 $0
Ronald Butler Jr Director May 14, 2026 A · 0 0 $0
Gonzalo A De La Melena Jr Director May 14, 2026 A 2,524 0 0 $0
Kristine L Svinicki Director May 14, 2026 A 2,634 0 0 $0
Carol S Eicher Director May 14, 2026 A · 0 0 $0
Paula J Sims Director May 14, 2026 A 11,032 0 0 $0
Glynis Bryan Director May 14, 2026 A 521 0 0 $0
James E Trevathan JR Director May 14, 2026 A 2,660 0 0 $0
William H Spence Director May 14, 2026 A 6,291 0 0 $0
Richard P Fox Director May 21, 2025 A 10,626 0 0 $0
Bruce J Nordstrom Director May 22, 2024 A 38,494 0 0 $0
Kathryn L Munro Director May 17, 2023 A 16,180 0 0 $0
Dale E. Klein Director May 18, 2022 A 100 0 0 $0
David Wagener Director May 18, 2022 A 19,327 0 0 $0
Denis A. Cortese Director May 19, 2021 G 18,762 0 0 $0
LOPEZ HUMBERTO S Director May 20, 2020 A 53,693 0 0 $0
Michael L Gallagher Director May 15, 2019 A 7,786 0 0 $0
HERBERGER ROY A JR Director March 14, 2018 S 24,137 0 0 $0
Susan Clark Johnson Director May 21, 2014 A 13,073 0 0 $0
Edward N Basha JR Director June 29, 2012 A 1,730 0 0 $0
Douglas W Parker Director July 1, 2011 A 7,993 0 0 $0
GRANT PAMELA Director July 1, 2011 A 28,250 0 0 $0
POST WILLIAM J Director Feb. 19, 2010 M 68,762 0 0 $0
William Stewart Director July 1, 2009 A 36,763 0 0 $0
JAMIESON WILLIAM S JR Director July 1, 2009 A 15,890 0 0 $0
Jack E Davis Director March 18, 2008 F 59,504 0 0 $0
HESSE MARTHA O Director May 4, 2007 S 1,100 0 0 $0
Jose Luis Esparza Jr · Aug. 7, 2026 S 4,910 0 1 $-183,618
Jacob Tetlow · May 13, 2026 S 6,634 0 2 $-650,133
Adam C Heflin · March 18, 2026 F 39,471 0 0 $0
Donna M Easterly · Dec. 31, 2023 A 9,694 0 0 $0
Barbara D Lockwood · Dec. 6, 2022 S 0 0 0 $0
Maria L Lacal · Feb. 22, 2022 A 24,578 0 0 $0
Daniel T Froetscher · Feb. 19, 2021 M 12,726 0 0 $0
Robert S Bement · Feb. 20, 2020 M 10,268 0 0 $0
John S. Hatfield · Feb. 20, 2019 M 2,774 0 0 $0
Mark A. Schiavoni · May 29, 2018 S 25,496 0 0 $0
Barbara M Gomez · May 16, 2017 S 3,443 0 0 $0
Randall K Edington · Feb. 21, 2017 A 28,189 0 0 $0
Tammy D Mcleod · March 8, 2016 I 0 0 0 $0
DINKEL PATRICK · Feb. 19, 2016 M 4,110 0 0 $0
Lori S Sundberg · Feb. 27, 2013 S 9,937 0 0 $0
Donald G Robinson · Feb. 20, 2013 M 41,855 0 0 $0
Steven M Wheeler · Feb. 19, 2010 M 17,729 0 0 $0
John R. Denman · Feb. 20, 2009 M 28,112 0 0 $0
Jan H. Bennett · March 18, 2008 G 12,419 0 0 $0
Armando B Flores · March 18, 2008 F 21,378 0 0 $0
James M Levine · Feb. 22, 2007 F 36,378 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 103 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
RSPU · Invesco Exchange-Traded Fund Trust 3.36% 168,047 SH Oct. 2, 2026 Daily
FXU · First Trust Exchange-Traded AlphaDE… 3.20% 263,396 NS July 31, 2026 N-PORT
UTES · ETFis Series Trust I 2.93% 381,553 NS July 31, 2026 N-PORT
PUI · Invesco Exchange-Traded Fund Trust 1.86% 9,428 SH Oct. 2, 2026 Daily
PEY · Invesco Exchange-Traded Fund Trust 1.73% 196,180 SH Oct. 2, 2026 Daily
SPHD · Invesco Exchange-Traded Fund Trust … 1.49% 499,416 SH Oct. 2, 2026 Daily
ZAP · Global X Funds 1.27% 57,886 NS July 31, 2026 N-PORT
SPLV · Invesco Exchange-Traded Fund Trust … 1.21% 880,388 SH Oct. 2, 2026 Daily
DVY · iShares Trust 0.93% 2,276,634 SH Sept. 11, 2026 Daily
SPVM · Invesco Exchange-Traded Fund Trust 0.83% 11,588 SH Oct. 2, 2026 Daily
VPU · VANGUARD WORLD FUND 0.82% 828,547 SH Aug. 19, 2026 Daily
FUTY · FIDELITY COVINGTON TRUST 0.80% 183,204 NS July 31, 2026 N-PORT
IDU · iShares Trust 0.75% 100,380 SH Sept. 11, 2026 Daily
LSEQ · Harbor ETF Trust 0.70% 1,065 NS July 31, 2026 N-PORT
UTSL · Direxion Shares ETF Trust 0.69% 2,572 NS July 31, 2026 N-PORT
HUSV · First Trust Exchange-Traded Fund III 0.59% 4,323 NS July 31, 2026 N-PORT
ESSC · Strategy Shares 0.59% 2,099 NS July 31, 2026 N-PORT
JXI · iShares Trust 0.54% 16,790 SH Sept. 11, 2026 Daily
POWR · iShares, Inc. 0.47% 22,226 SH Sept. 11, 2026 Daily
RPV · Invesco Exchange-Traded Fund Trust 0.46% 80,571 SH Oct. 2, 2026 Daily
FNK · First Trust Exchange-Traded AlphaDE… 0.40% 9,084 NS July 31, 2026 N-PORT
JPME · J.P. Morgan Exchange-Traded Fund Tr… 0.36% 16,739 NS July 31, 2026 N-PORT
JPUS · J.P. Morgan Exchange-Traded Fund Tr… 0.36% 16,394 NS July 31, 2026 N-PORT
BKMC · BNY Mellon ETF Trust 0.32% 20,416 NS July 31, 2026 N-PORT
VBR · VANGUARD INDEX FUNDS 0.28% 1,764,446 SH Aug. 19, 2026 Daily
BBMC · J.P. Morgan Exchange-Traded Fund Tr… 0.27% 53,215 NS July 31, 2026 N-PORT
TRFM · ETF Series Solutions 0.22% 5,285 NS July 31, 2026 N-PORT
FNX · First Trust Exchange-Traded AlphaDE… 0.21% 28,879 NS July 31, 2026 N-PORT
EQAL · Invesco Exchange-Traded Fund Trust … 0.20% 16,843 SH Oct. 2, 2026 Daily
RSP · Invesco Exchange-Traded Fund Trust 0.20% 2,008,392 SH Oct. 2, 2026 Daily
JVAL · J.P. Morgan Exchange-Traded Fund Tr… 0.19% 16,064 NS July 31, 2026 N-PORT
SMMD · iShares Trust 0.16% 64,650 SH Sept. 11, 2026 Daily
DFAS · Dimensional ETF Trust 0.16% 241,904 NS July 31, 2026 N-PORT
VB · VANGUARD INDEX FUNDS 0.15% 2,779,491 SH Aug. 19, 2026 Daily
NEAR · iShares U.S. ETF Trust 0.14% 7,450,000 SH Sept. 11, 2026 Daily
PFIG · Invesco Exchange-Traded Fund Trust … 0.14% 180,000 Oct. 1, 2026 Daily
FAB · First Trust Exchange-Traded AlphaDE… 0.12% 2,009 NS July 31, 2026 N-PORT
BSCT · Invesco Exchange-Traded Self-Indexe… 0.12% 3,430,000 Oct. 2, 2026 Daily
IWS · iShares Trust 0.11% 180,857 SH Sept. 11, 2026 Daily
WSML · iShares Trust 0.11% 7,615 SH Sept. 11, 2026 Daily
IWR · iShares Trust 0.09% 497,210 SH Sept. 11, 2026 Daily
XOEF · iShares Trust 0.07% 155 SH Sept. 11, 2026 Daily
VYM · VANGUARD WHITEHALL FUNDS 0.05% 482,891 SH Aug. 19, 2026 Daily
PFM · Invesco Exchange-Traded Fund Trust 0.04% 3,452 SH Oct. 2, 2026 Daily
VOOV · VANGUARD ADMIRAL FUNDS 0.04% 28,030 SH Aug. 19, 2026 Daily
VONV · VANGUARD SCOTTSDALE FUNDS 0.04% 73,069 SH Aug. 19, 2026 Daily
IVE · iShares Trust 0.04% 201,737 SH Sept. 11, 2026 Daily
IUSV · iShares Trust 0.04% 106,151 SH Sept. 11, 2026 Daily
PRF · Invesco Exchange-Traded Fund Trust 0.03% 35,816 SH Oct. 2, 2026 Daily
IWD · iShares Trust 0.03% 268,799 SH Sept. 11, 2026 Daily
TILT · FlexShares Trust 0.03% 5,994 NS July 31, 2026 N-PORT
RWL · Invesco Exchange-Traded Fund Trust … 0.03% 28,460 SH Oct. 2, 2026 Daily
EGLE · Global X Funds 0.03% 6 NS July 31, 2026 N-PORT
DCOR · Dimensional ETF Trust 0.03% 8,934 NS July 31, 2026 N-PORT
LGDX · Tidal Trust III 0.02% 340 NS July 31, 2026 N-PORT
DFAC · Dimensional ETF Trust 0.02% 113,550 NS July 31, 2026 N-PORT
XYLG · Global X Funds 0.02% 142 NS July 31, 2026 N-PORT
TOPC · iShares Trust 0.02% 75 SH Sept. 10, 2026 Daily
XTR · Global X Funds 0.02% 10 NS July 31, 2026 N-PORT
XYLD · Global X Funds 0.02% 6,634 NS July 31, 2026 N-PORT
GSY · Invesco Actively Managed Exchange-T… 0.02% 779,000 Oct. 1, 2026 Daily
DFAU · Dimensional ETF Trust 0.02% 25,112 NS July 31, 2026 N-PORT
VOO · VANGUARD INDEX FUNDS 0.02% 3,149,787 SH Aug. 19, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.02% 3,848,045 SH Aug. 19, 2026 Daily
VONE · VANGUARD SCOTTSDALE FUNDS 0.02% 20,021 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.02% 10,263 SH Aug. 19, 2026 Daily
XCLR · Global X Funds 0.02% 7 NS July 31, 2026 N-PORT
CATH · Global X Funds 0.02% 2,491 NS July 31, 2026 N-PORT
XRMI · Global X Funds 0.02% 94 NS July 31, 2026 N-PORT
CHRI · Global X Funds 0.02% 15 NS July 31, 2026 N-PORT
PTLC · Pacer Funds Trust 0.02% 6,067 NS July 31, 2026 N-PORT
IVV · iShares Trust 0.02% 1,527,777 SH Sept. 11, 2026 Daily
DFUS · Dimensional ETF Trust 0.02% 37,019 NS July 31, 2026 N-PORT
PBP · Invesco Exchange-Traded Fund Trust 0.02% 716 SH Oct. 2, 2026 Daily
SPUU · Direxion Shares ETF Trust 0.02% 457 NS July 31, 2026 N-PORT
QDPL · Pacer Funds Trust 0.02% 2,909 NS July 31, 2026 N-PORT
IWB · iShares Trust 0.02% 82,666 SH Sept. 11, 2026 Daily
DIVB · iShares Trust 0.02% 3,474 SH Sept. 11, 2026 Daily
IYY · iShares Trust 0.02% 5,107 SH Sept. 10, 2026 Daily
IWV · iShares Trust 0.02% 33,372 SH Sept. 10, 2026 Daily
ITOT · iShares Trust 0.02% 152,396 SH Sept. 11, 2026 Daily
HCMT · Direxion Shares ETF Trust 0.02% 844 NS July 31, 2026 N-PORT
QVML · Invesco Exchange-Traded Fund Trust … 0.01% 2,637 SH Oct. 2, 2026 Daily
PHDG · Invesco Actively Managed Exchange-T… 0.01% 96 SH Oct. 2, 2026 Daily
SPXL · Direxion Shares ETF Trust 0.01% 9,476 NS July 31, 2026 N-PORT
OMFL · Invesco Exchange-Traded Self-Indexe… 0.01% 5,046 SH Oct. 2, 2026 Daily
VT · VANGUARD INTERNATIONAL EQUITY INDEX… 0.01% 91,429 SH Aug. 19, 2026 Daily
GTO · Invesco Actively Managed Exchange-T… 0.00% 600 Sept. 30, 2026 Daily
BIV · VANGUARD BOND INDEX FUNDS · · July 15, 2026 Daily
BLV · VANGUARD BOND INDEX FUNDS · · July 15, 2026 Daily
BSV · VANGUARD BOND INDEX FUNDS · · July 15, 2026 Daily
BND · VANGUARD BOND INDEX FUNDS · · July 15, 2026 Daily
VUSB · VANGUARD BOND INDEX FUNDS · · July 15, 2026 Daily
VSDB · VANGUARD MALVERN FUNDS · · July 15, 2026 Daily
VCSH · VANGUARD SCOTTSDALE FUNDS · · July 15, 2026 Daily
VCIT · VANGUARD SCOTTSDALE FUNDS · · July 15, 2026 Daily
VCLT · VANGUARD SCOTTSDALE FUNDS · · July 15, 2026 Daily
VTC · VANGUARD SCOTTSDALE FUNDS · · July 30, 2026 Daily
BNDW · VANGUARD SCOTTSDALE FUNDS · · July 30, 2026 Daily
IFRA · iShares Trust · 147,925 SH Sept. 11, 2026 Daily
ISCB · iShares Trust · 5,468 SH Sept. 11, 2026 Daily
ISCV · iShares Trust · 26,890 SH Sept. 11, 2026 Daily
SMMV · iShares Trust · 40,256 SH Aug. 19, 2026 Daily

PNW Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 21 analysts BUY
Median target $104.00 +8.4%
5 23.8% Strong Buy
2 9.5% Buy
14 66.7% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

14 analysts · 2026-10-03

Mean target $104.21 +8.6%

Now Current price $95.92
Low$87.00 Mean$104.21 High$129.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
PNW · 17.6 4.2% 11.8% 9.2% ·
EIX $23.09B 5.2 9.8% 23.1% 26.9% ·
NRG $30.32B 39.7 9.2% 2.8% 43.5% ·
EVRG · 19.8 1.9% 14.3% 8.5% ·
LNT $16.72B 20.7 9.6% 18.6% 11.3% ·
OGE $8.80B 18.4 9.2% 14.4% 9.8% ·
IDA · 21.5 -1.2% 18.5% 9.4% ·
OKLO $11.52B -99.7 · · -9.7% ·
TXNM $6.41B 39.8 9.9% 7.8% 5.7% ·
POR $5.55B 17.3 4.0% 8.6% 7.7% ·
NEE $167.22B 24.3 9.8% 26.5% 13.1% ·

Latest News Recent headlines mentioning this company

23

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26

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Source: SEC 10-Q filed Aug 4, 2026