Pinnacle West Reports Strong 3Q and Initiates 2019 Guidance Above Our Estimate
We are increasing our fair value estimate to $85 per share from $82 after Pinnacle West reported strong third-quarter earnings, initiated 2019 earnings guidance higher than we expected, and reported that the Phoenix economy remains strong. Third-quarter EPS came in at $2.80 versus $2.46 in the same period last year. Even subtracting a $0.14 benefit due to the timing of tax reform refund recognition, third-quarter earnings were impressive, and we increased our 2018 EPS estimate by $0.03, to $4.48...Pinnacle West Capital is a holding company. Through its subsidiary, Arizona Public Service Company, the company provides either retail or wholesale electric service to most of the State of Arizona, with the exceptions of about one-half of the Phoenix metropolitan area, the Tucson metropolitan area and Mohave County in northwestern Arizona. The company's business segment is its regulated electricity segment, which consists of regulated retail and wholesale electricity businesses (primarily electric service to Native Load customers) and related activities, and includes electricity generation, transmission and distribution.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.