HighTower Advisors LLC Sells 2,579 Shares of Pinnacle West Capital Co. (NYSE:PNW)

HighTower Advisors LLC reduced its stake in Pinnacle West Capital Co. (NYSE:PNW) by 3.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 67,674 shares of the utilities provider’s stock after selling 2,579 shares during the quarter. HighTower Advisors LLC’s holdings in Pinnacle West Capital were worth $5,737,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. KBC Group NV raised its stake in shares of Pinnacle West Capital by 21.4% in the third quarter. KBC Group NV now owns 2,967 shares of the utilities provider’s stock worth $263,000 after buying an additional 524 shares during the period. CIBC Asset Management Inc raised its stake in Pinnacle West Capital by 8.0% during the 3rd quarter. CIBC Asset Management Inc now owns 15,737 shares of the utilities provider’s stock worth $1,394,000 after acquiring an additional 1,163 shares during the period. Natixis Advisors LLC lifted its holdings in Pinnacle West Capital by 1.5% during the third quarter. Natixis Advisors LLC now owns 23,221 shares of the utilities provider’s stock valued at $2,057,000 after purchasing an additional 342 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Pinnacle West Capital by 3.8% in the third quarter. PNC Financial Services Group Inc. now owns 65,736 shares of the utilities provider’s stock worth $5,824,000 after purchasing an additional 2,433 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Pinnacle West Capital in the third quarter worth $43,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle West Capital Stock Performance

NYSE PNW opened at $94.23 on Thursday. 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 $95.42. The business has a 50 day simple moving average of $89.00 and a two-hundred day simple moving average of $88.74. The stock has a market capitalization of $11.22 billion, a PE ratio of 17.85, a P/E/G ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW) last posted its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.25. The firm had revenue of $1.10 billion during 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, research analysts predict that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PNW. 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 research note on Wednesday, February 26th. KeyCorp upgraded Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 price objective on the stock in a research report on Wednesday, December 4th. Morgan Stanley cut their target price on Pinnacle West Capital from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group lowered their price target on Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a “strong-buy” rating in a report on Monday. Five investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.81.

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.