Aster Capital Management DIFC Ltd Cuts Stock Position in Pinnacle West Capital Co. (NYSE:PNW)

Aster Capital Management DIFC Ltd cut its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 68.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm 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 PNW. Mesirow Financial Investment Management Inc. boosted its stake in shares of Pinnacle West Capital by 0.9% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 13,724 shares of the utilities provider’s stock worth $1,163,000 after acquiring an additional 116 shares during the last quarter. Fortem Financial Group LLC lifted its holdings in Pinnacle West Capital by 2.2% in the 4th quarter. Fortem Financial Group LLC now owns 5,717 shares of the utilities provider’s stock valued at $485,000 after purchasing an additional 124 shares in the last quarter. New York Life Investment Management LLC boosted its stake in Pinnacle West Capital by 0.9% during the 4th quarter. New York Life Investment Management LLC now owns 14,916 shares of the utilities provider’s stock worth $1,264,000 after purchasing an additional 127 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Pinnacle West Capital by 10.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,598 shares of the utilities provider’s stock worth $135,000 after buying an additional 156 shares in the last quarter. Finally, 1620 Investment Advisors Inc. raised its position in shares of Pinnacle West Capital by 3.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider’s stock valued at $397,000 after buying an additional 162 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on PNW shares. Morgan Stanley boosted their price objective on Pinnacle West Capital from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Guggenheim restated a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research report on Wednesday, February 26th. Barclays boosted their target price on shares of Pinnacle West Capital from $87.00 to $94.00 and gave the company an “equal weight” rating in a report on Tuesday, April 1st. UBS Group raised their price target on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a “strong-buy” rating in a report on Monday, March 17th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Pinnacle West Capital has an average rating of “Moderate Buy” and an average price target of $95.50.

Pinnacle West Capital Stock Down 4.3 %

Pinnacle West Capital stock opened at $91.15 on Monday. The stock’s 50 day moving average price is $91.09 and its 200 day moving average price is $89.11. The company has a market cap of $10.86 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 3.59 and a beta of 0.42. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.71 and a quick ratio of 0.54. Pinnacle West Capital Co. has a 1-year low of $70.73 and a 1-year high of $96.50.

Pinnacle West Capital (NYSE:PNW) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.25. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. On average, sell-side analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal 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.