Virtu Financial LLC Has $207,000 Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Virtu Financial LLC reduced its stake in Pinnacle West Capital Co. (NYSE:PNW) by 75.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,446 shares of the utilities provider’s stock after selling 7,507 shares during the quarter. Virtu Financial LLC’s holdings in Pinnacle West Capital were worth $207,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. grew its holdings in Pinnacle West Capital by 3.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 4,683 shares of the utilities provider’s stock worth $397,000 after acquiring an additional 162 shares during the period. Blueshift Asset Management LLC grew its stake in Pinnacle West Capital by 22.2% during the fourth quarter. Blueshift Asset Management LLC now owns 4,332 shares of the utilities provider’s stock worth $367,000 after purchasing an additional 786 shares during the period. Magnetar Financial LLC bought a new stake in Pinnacle West Capital in the fourth quarter worth approximately $644,000. Teacher Retirement System of Texas boosted its holdings in shares of Pinnacle West Capital by 58.5% during the 4th quarter. Teacher Retirement System of Texas now owns 27,975 shares of the utilities provider’s stock worth $2,371,000 after buying an additional 10,326 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Pinnacle West Capital during the 4th quarter worth approximately $764,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Pinnacle West Capital Stock Up 1.3 %

PNW stock opened at $94.23 on Friday. The firm 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. The company has a quick ratio of 0.54, a current ratio of 0.71 and a debt-to-equity ratio of 1.20. Pinnacle West Capital Co. has a twelve month low of $70.73 and a twelve month high of $95.42. The stock’s 50 day moving average is $90.28 and its 200-day moving average is $88.96.

Pinnacle West Capital (NYSE:PNW) last posted its quarterly earnings data 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%. Sell-side analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PNW. Wells Fargo & Company increased their target price 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. LADENBURG THALM/SH SH raised shares of Pinnacle West Capital to a “strong-buy” rating in a research report on Monday, March 17th. Morgan Stanley boosted their target price on Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Jefferies Financial Group cut 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, UBS Group boosted their price objective on Pinnacle West Capital from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Six equities 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 company’s stock. According to data from MarketBeat.com, Pinnacle West Capital has a consensus rating of “Moderate Buy” and a consensus target price of $95.17.

About Pinnacle West Capital

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.