Thursday, September 24, 2020

Recent Buy - Pinnacle West Capital Corporation (PNW)


Monday, September 21st, I bought 40 shares of Pinnacle West Capital Corporation at $ 69.56 per share plus commission.


Pinnacle West Capital Corporation, through its subsidiary, Arizona Public Service Company, provides retail and wholesale electric services primarily in the state of Arizona. The company generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities consist of approximately 6,192 pole miles of overhead lines and approximately 49 miles of underground lines; and distribution facilities comprise approximately 11,191 miles of overhead lines and approximately 22,092 miles of underground primary cable. The company serves approximately 1.3 million customers. It owns or leases approximately 6,316 megawatts of regulated generation capacity. The company was incorporated in 1985 and is headquartered in Phoenix, Arizona.


 PNW is a Dividend Challengers with a 8 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 6.1, 5.8, 5.4 and 3.6. (DividendChampions.xls)


Pinnacle West Capital Corporation now pays dividends of $ 0.7825 per share normally in March, June, September and December.





Details of my purchase:




Some ratings for PNW:


    Yahoo: Mean Recommendation 2.6, 1y Target Est $ 84.92


    Reuters: Mean Rating 2.57


    Morningstar: (****)



At today's exchange rate, that purchase 40 shares of PNW will increase € 80.07 ($ 93.27) of my expected annual net dividend income and will increase my portfolio's projected annual net dividend income to € 15,290.00. With purchase price $ 69.56 plus commission ($ 5.89) my starting yield on cost is 4.49%. After this acquisition, PNW’s weight of my portfolio is about 0.49% and its share of future annual dividend income is approximately 0.52%.


Click here to see my portfolio.


Full Disclosure: Long PNW


Thanks for stopping by!


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