Aster Capital Management DIFC Ltd Lowers Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Aster Capital Management DIFC Ltd lowered its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 68.9% in the fourth quarter, HoldingsChannel reports. The fund owned 4,372 shares of the utilities provider’s stock after selling 9,681 shares during the quarter. 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 large investors have also modified their holdings of PNW. Centiva Capital LP acquired a new position in Pinnacle West Capital during the third quarter worth approximately $462,000. Hilltop Holdings Inc. purchased a new position in shares of Pinnacle West Capital in the 3rd quarter worth $239,000. HighTower Advisors LLC boosted its holdings 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 valued at $6,241,000 after acquiring an additional 1,170 shares during the last quarter. Quantinno Capital Management LP grew its position in Pinnacle West Capital by 36.7% during the third quarter. Quantinno Capital Management LP now owns 19,979 shares of the utilities provider’s stock valued at $1,770,000 after acquiring an additional 5,361 shares during the period. Finally, Stifel Financial Corp increased its stake in Pinnacle West Capital by 5.6% during the third quarter. Stifel Financial Corp now owns 140,765 shares of the utilities provider’s stock worth $12,470,000 after acquiring an additional 7,502 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Price Performance

PNW opened at $91.15 on Monday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital Co. has a 1-year low of $70.73 and a 1-year high of $96.50. The company has a 50-day moving average of $91.09 and a 200-day moving average of $89.11. The company has a market capitalization of $10.86 billion, a P/E ratio of 17.26, a PEG ratio of 3.59 and a beta of 0.42.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.25. Pinnacle West Capital had a return on equity of 9.60% and a net margin of 12.26%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Equities analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PNW. 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 report on Tuesday, January 28th. UBS Group increased their price objective on shares of Pinnacle West Capital from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Wells Fargo & Company lifted their target price on shares of Pinnacle West Capital from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Barclays increased their price target on Pinnacle West Capital from $87.00 to $94.00 and gave the company an “equal weight” rating in a report on Tuesday, April 1st. Finally, LADENBURG THALM/SH SH upgraded Pinnacle West Capital to a “strong-buy” rating in a research note on Monday, March 17th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pinnacle West Capital presently has a consensus rating of “Moderate Buy” and an average target price of $95.50.

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.