Pinnacle West Capital Corp

PNW: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$96.00	Zllqmx	Zypmkphk

Pinnacle West's Energy Demand Growth Helping Offset Lower Customer Rates

Travis Miller

Aug 3, 2022

We are reaffirming our $77 per share fair value estimate for Pinnacle West after the company reported earning $1.45 per share in the second quarter, down from $1.91 per share in the second quarter of 2021. We are reaffirming our narrow moat and stable moat trend ratings.

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