Aster Capital Management DIFC Ltd Sells 9,681 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Aster Capital Management DIFC Ltd reduced its position in shares of Pinnacle West Capital Co. (NYSE:PNW - Free Report) by 68.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,372 shares of the utilities provider's stock after selling 9,681 shares during the period. Aster Capital Management DIFC Ltd's holdings in Pinnacle West Capital were worth $371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Centiva Capital LP bought a new position in shares of Pinnacle West Capital during the 3rd quarter worth approximately $462,000. Hilltop Holdings Inc. bought a new stake in Pinnacle West Capital during the third quarter worth $239,000. HighTower Advisors LLC boosted its position in Pinnacle West Capital by 1.7% in the third quarter. HighTower Advisors LLC now owns 70,253 shares of the utilities provider's stock worth $6,241,000 after purchasing an additional 1,170 shares during the last quarter. Quantinno Capital Management LP grew its stake in Pinnacle West Capital by 36.7% in the 3rd quarter. Quantinno Capital Management LP now owns 19,979 shares of the utilities provider's stock valued at $1,770,000 after purchasing an additional 5,361 shares during the period. Finally, Stifel Financial Corp increased its position in shares of Pinnacle West Capital by 5.6% during the 3rd quarter. Stifel Financial Corp now owns 140,765 shares of the utilities provider's stock valued at $12,470,000 after purchasing an additional 7,502 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PNW has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on shares of Pinnacle West Capital from $84.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. Wells Fargo & Company raised their price target on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. UBS Group upped their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Jefferies Financial Group decreased their target price on Pinnacle West Capital from $106.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Finally, LADENBURG THALM/SH SH raised Pinnacle West Capital to a "strong-buy" rating in a research report on Monday, March 17th. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.50.

Pinnacle West Capital Stock Performance

Shares of NYSE:PNW traded up $1.68 during midday trading on Friday, reaching $91.96. 1,123,857 shares of the company traded hands, compared to its average volume of 1,078,026. Pinnacle West Capital Co. has a 12 month low of $70.73 and a 12 month high of $96.50. The firm's fifty day moving average price is $91.56 and its two-hundred day moving average price is $89.15. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 3.59 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.25. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. On average, equities analysts expect that Pinnacle West Capital Co. will post 5.13 earnings per share for the current year.

Pinnacle West Capital Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.