Pinnacle West's (PNW) CAPEX & Clean Energy Aims Augur Well

Asia's Tech News Daily

Pinnacle West Capital Corporation’s PNW planned investments in strengthening its infrastructure and an increasing focus on renewable sources for power generation will help it take advantage of the expected demand surge for clean energy. Also, PNW’s efforts to reduce costs will drive its earnings.

The Zacks Consensus Estimate for 2021 earnings is pegged at $5.08 per share, indicating growth of 4.31% from the year-ago quarter’s reported figure. Also, the consensus mark for current-year revenues stands at $3.62 billion, suggesting 0.97% growth from the prior-year period’s reported number. Additionally, long-term (three-five years) earnings growth is pegged at 5%.

In the past month, shares of this currently Zacks Rank #3 (Hold) Pinnacle West have lost 0.7% against the industry’s growth of 0.8%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Click to get this free report, Zacks Investment Research

– Zacks

One Months Price Performance

 

Click to get this free report, Zacks Investment Research
Image Source: Zacks Investment Research

Tailwinds

Pinnacle West’s investments in clean power generation, and transmission and distribution lines will help it expand its customer base with better efficiency. PNW spent $1,006.4 million in the first nine months of 2021 and has plans to spend $6,210 million during the 2021-2024 forecast period with the current-year expectation being $1,500 million to strengthen and expand its existing infrastructure. Moreover, PNW is working ontrimming costs, which will help keep the customer rates low as well as enhance its customer benefits and shareholder value.

Apart from growing its utility infrastructure, Pinnacle West continues focusing on expanding its generation from renewable sources. In the 2021-2024 time frame, PNW will invest $1,487 million in increasing clean power generationand plans to deliver 100% carbon-free electricity to its customers by 2050. This includes a near-term target of attaining a resource mix within 2030 comprising 65% clean energy and 45% renewable sources.

Other electric utilities also adopting measures to supply clean and reliable energy to their customers include the likes of Duke Energy DUK, DTE Energy DTE and Alliant Energy LNT. While DUK and DTE carry a Zacks Rank#3  at present, LNT holds a Zacks Rank #2 (Buy). All three stocks are planning to provide absolute clean energy by 2050.

DTE Energy remains committed to reducing carbon emissions of its electric utility operations by 32% within 2023, 50% by 2030 and 80% by 2040 from the 2005 carbon emissions levels. Duke Energy plans to reduce carbon footprint between approximately 55% and 75% through 2035. Alliant Energy intends to retire all the existing coal-fired generation units by 2040 with an objective to lower emissions from the 2005 baseline by 50% within 2030.

Headwinds

Pinnacle West’s progress could be hindered by fluctuations in commodity prices, stringent environmental regulations and unplanned outages in nuclear-generation facilities.


Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is “Will you get into the right stocks early when their growth potential is greatest?”

Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

Download FREE: How to Profit from Trillions on Spending for Infrastructure >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

 

Duke Energy Corporation (DUK): Free Stock Analysis Report

 

DTE Energy Company (DTE): Free Stock Analysis Report

 

Pinnacle West Capital Corporation (PNW): Free Stock Analysis Report

 

Alliant Energy Corporation (LNT): Free Stock Analysis Report

 

To read this article on Zacks.com click here.

 

Zacks Investment Research

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Mark Cuban Launches Online Pharmacy, Promises Lowest Prices on Lifesaving Prescriptions

Billionaire investor and Dallas Mavericks owner Mark Cuban has launched an online pharmacy that offers more than 100 lifesaving medications at what it claims are “affordable” prices.  As a registered ... Read more »

Biden's $15 minimum wage hike for federal agencies is now in effect

U.S. President Joe Biden delivers remarks alongside Intel CEO Patrick Gelsinger (L) and Commerce Secretary Gina Raimondo as he speaks about the ongoing supply chain problems in the South Court ... Read more »

AGNC Investment (AGNC) Stock Moves -0.73%: What You Should Know

In the latest trading session, AGNC Investment (AGNC) closed at $14.95, marking a -0.73% move from the previous day. This change was narrower than the S&P 500’s daily loss of ... Read more »

4 Marketing Strategies That Will Turn Your Customers Into Billboards for Your Business

People love to talk about great experiences. After all, when you really enjoy something, it’s human nature to want to tell others all about it! As a business owner, your ... Read more »

PTC India board to meet Jan 22 after allegations of irregularities in financial lending units

PTC India will hold its first board meeting on Saturday following recent allegations of lapses in governance and operations at its financial lending units. Rajib Mishra, the company’s chairman, did ... Read more »

Peloton Shares Rise After CEO Writes the Company is Considering Layoffs: 'We Now Need to Evaluate Our Organization Structure and Size of our Team'

On Thursday, Peloton CEO John Foley sent a memo to the Peloton team in the form of an open letter on its website, firing back at a report by CNBC alleging to have ... Read more »

In the Big Tech Metaverse, is privacy an option?

The world’s largest companies go all-in on Metaverse, an alternative virtual reality world combining work, leisure, services and more. While they look for the best way to make everyone join ... Read more »

Why Is The Airline Industry So Concerned With The 5G Network?

While AT&T Inc (NYSE:T) and Verizon Communications Inc (NYSE:VZ) announced ambitious plans to deploy 5G services in the U.S., the airline industry has raised concerns about how this technology could ... Read more »

Y Combinator-backed Invoid joins Credenc, a Capital India company to build Neobank for students

Invoid, a Y Combinator-backed firm, has joined Credenc, an online platform for education loans, to build a student focused Neobank, a first in India for college students. The company said ... Read more »

How to Be More Courageous in Life

Do you have a lot of fears in life? Are you struggling with the fear of failure, the fear of uncertainty and the fear of success? You don’t have to ... Read more »

An Inspiring Interview with Steve White, President, Special Counsel to the CEO of Comcast

Do you let circumstances define who you are, or do you take charge of your life no matter how challenging it is? I have the pleasure to interview Steve White, ... Read more »

Silver Jewellery Startup GIVA Raises $10 Million In Series A

Bengaluru-based silver jewellery startup GIVA, has raised  $10 million in its Series A funding led by Sixth Sense Ventures, A91 Partners and other marquee investors like India Quotient, Grand Anicut ... Read more »

Cloud Tailor Raises $1 Million In Pre-Series A

Cloud Tailor, a D2C platform that enables personalized women’s fashion, has raised $1.0 million in its pre-Series A round led by 35North Ventures and Mergerdomo. Pexels Two of Cloud Tailor’s ... Read more »

Big Tech Uses Data to the Detriment of Consumer Health, But We're Addicted. So What's the Solution?

As was brilliantly chronicled in the 2020 Netflix documentary The Social Dilemma, much of tech today uses data to tap into the human brain in a way that is detrimental to ... Read more »

Technology Startups Are Redefining Clean Energy

Humanity has changed rapidly this past decade. We carry cameras in our pockets, have the knowledge of the world at our fingertips, and are now entering the Metaverse. It’s clear ... Read more »

When You Work With A Strong Vision, Goals Become A Reality: Proved By This Young Entrepreneur Of Dubai

Most of the time, what we hear from people around us is how one needs to change lifestyle and inculcate great habits to create a more fulfilling life for oneself ... Read more »

How This 28-Year-Young Entrepreneur Reached Astounding Heights Of Success In Entrepreneurial World

There are many individuals who have broken the barriers and emerged as true winners in every sphere, especially the entrepreneurial realm, which has seen many enter into it and make ... Read more »

5 Easy Expense Decisions Entrepreneurs Can Make in 2022 to Increase their Impact

I love the energy of the new year. Ideas feel limitless, and possibility is everywhere. It’s an opportunity to make thoughtful tweaks in our personal and professional lives. The kind that ... Read more »

Why getting Congress to fund help for US children in poverty is so hard to do

The Build Back Better bill, the centerpiece of the Biden administration’s domestic policy, cleared the House of Representatives by a slender margin largely along party lines in November 2021. Mario ... Read more »

Agrowave Raises $2 Million In Pre-Series A

Agrowave, an agritech startup building a supply-driven farm-to-market mobility supply chain with focus on first-mile logistics and trades supply through an integrated network of mobile pickup stations, has raised $2 ... Read more »

Your Expert Opinion vs. the Customer's Wants

Behind the Review host and Yelp’s Small Business Expert, Emily Washcovick, shares a look at this week’s episode of the podcast. It’s okay to be particular about who’s touching your hair. For her first dye job, ... Read more »

Horrifying Video Shows Amazon Driver's Run-In With a Giant Bear in Driveway

Things could have ended bear-y badly for one Amazon delivery man in Upland, California. RingAmazon driver has run-in with bear One family in the rural town had been frequently getting ... Read more »

Decoding the Ethical Concerns With Respect To Technology

It was once said by Martina Navratilova that “Security used to be an inconvenience sometimes, but now it’s a necessity all the time.” The statement is indeed true. Humans at ... Read more »

Military Veterans Make Great Entrepreneurs, But Startups Aren't the Only Path to Success

We officially founded our non-profit organization VETtoCEO in 2013 and have been delivering an online entrepreneurship program specifically designed for military veterans since 2012. Our Entrepreneurship for Transitioning Warriors program ... Read more »

What to Consider When Making a Real Estate Move

Small business expansion is not an idea often explored until startups hit an inflection point in their business, usually tied to a growth event such as a new financing round ... Read more »

Man Awarded $9.4 Million After Being Served a Glass of Sanitizer Instead of Water at Cracker Barrel

At the onslaught of the coronavirus pandemic, sanitizer and cleaners quickly became coveted resources as suppliers and sellers tried to keep up with demand across the board. Education Images | ... Read more »

From Near Bankruptcy To 8 Figures: An Entrepreneurs Story Of Stocks, Online Business And Never Giving Up

Ahmed Alomari started out a small town kid from Michigan with big dreams of financial freedom. Handout In the last 7 years Ahmed or GMoney as he’s popularly known as ... Read more »

Federal Realty Investment Trust (FRT) Dips More Than Broader Markets: What You Should Know

Federal Realty Investment Trust (FRT) closed the most recent trading day at $123.40, moving -1.77% from the previous trading session. This change lagged the S&P 500’s 1.1% loss on the ... Read more »

Jeff Bezos Gets Roasted on Twitter, Compared to Evil Villain After Amazon Announces New 'Lord of the Rings' Show

Amazon’s Prime Video has long been teasing an original series based off of the fan-favorite Lord of the Rings series. Twitter via Jeff BezosTwitter via Jeff Bezos Though not much ... Read more »

Protect Your Business by Becoming a Cybersecurity Analyst

Cyber attacks on small businesses were on the rise in 2021, with 44 percent of small businesses reporting that they experienced a cyber attack. As such, cybersecurity is no longer just ... Read more »

Figaro's Pizza Inks Pact With FranGlobal To Expand In India

Figaro’s Italian Pizza has inked a deal with FranGlobal to open  hundreds of outlets throughout India over the next 25 years.  Pexels With this, Figaro’s Pizza, which is one of ... Read more »

The Dynamic Nature Of Social Media Has Fostered the Concept Of Blitzscaling

Businesses are getting more sophisticated as the decades pass. The traditional model of scaling an organization from one location to thousands of locations through large capital expenditures is being replaced ... Read more »

Autodesk (ADSK) Stock Moves -0.76%: What You Should Know

In the latest trading session, Autodesk (ADSK) closed at $252.41, marking a -0.76% move from the previous day. This change was narrower than the S&P 500’s 1.1% loss on the ... Read more »

How to Break Into the Creator Economy in a Digital Age

The way we consume entertainment and news has shifted tremendously within the past decade. Whereas once we relied solely on TVs or news outlets to consume information, now we tune ... Read more »

Securely Store Passwords, Payment Info, and More in One Place

For entrepreneurs, it’s crucial to stay organized. You’re running a business and you’re in charge of important decisions and accounts for both your business and employees. You can’t keep going ... Read more »

Lemonade (LMND) Gains As Market Dips: What You Should Know

Lemonade (LMND) closed the most recent trading day at $31.60, moving +1.09% from the previous trading session. This move outpaced the S&P 500’s daily loss of 1.1%. Elsewhere, the Dow ... Read more »

Livent (LTHM) Dips More Than Broader Markets: What You Should Know

Livent (LTHM) closed the most recent trading day at $22.74, moving -1.6% from the previous trading session. This change lagged the S&P 500’s 1.1% loss on the day. Meanwhile, the ... Read more »

4 Things to Know About Online Reviews (and Why You Can't Afford to Ignore Them)

For many business owners, brand reviews on sites like Yelp, GMB and other review platforms may sometimes seem a little like background noise — unavoidable and always there, but also easy to ... Read more »

Searching for a Franchise for the First Time? Here are 6 Tips to Consider

With over 3,000 different franchise concepts to choose from, the intense search to find the perfect match for your goals, income potential and lifestyle can leave you chomping at the ... Read more »

Khelgully Raises INR 3.1 Crore In Seed Funding

Bangalore-based social e-sports RMG platform, Khelgully, has raised INR 3.1 crore in Seed funding round led by Titan Capital, along with prominent angel investors. Pexels  Khelgully operates on the real ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic