Pinnacle West Capital Corporation – Investment Electric Stock
The utility sector has seen an uptick in October 2021. A quick look at the chart of XLU or the SPDR Utilities Sector ETF shows the growth of almost 5% in about one month. The recent days have seen some consolidation after a significant move. However, there are signs of inflation worldwide, and energy prices have also been rising. It remains to be seen how the commodity price boom plays out. However, investors looking for utilities regulated electric stock to buy may want to consider investing in specific stocks or an ETF that tracks the sector. If you opt for individual stocks, you will notice that a few dominant companies usually serve every major MSA or geographic area. For example, Pinnacle West Capital Corporation serves the central Arizona area, including the fast-growing city of Phoenix. The company is an investor-owned utility holding company.
Pinnacle West Capital Corp Business Info
Pinnacle West Capital Corporation is headquartered in Phoenix, Arizona. It serves around 1.3 million customers spread out across 35,000 square miles in central Arizona. Pinnacle West either owns or leases around 6 GW of power generation capacity. Among the company’s investments is a 29% stake in the largest nuclear power plant in the US. It is estimated that nearly half of Pinnacle West Capital Corporation’s energy comes from clean energy sources. This is an important metric for a utility business because there is a tremendous push towards sustainability. Governments are working towards net-zero emissions targets, and utility companies and transport companies are expected to play a big role in helping countries achieve their climate goals. So if you are thinking of investing electric stock, then sustainability is something you will have to keep in mind.
Utilities Regulated Electric Stock To Buy
Pinnacle West Capital Corporation trades under the ticker symbol PNW on the New York Stock Exchange. It last traded at $65 on 1st November 2021. The stock was offering a hefty dividend yield of 5.11% at the time.
