Virtu Financial LLC Sells 7,507 Shares of Pinnacle West Capital Co. (NYSE:PNW)

Virtu Financial LLC lowered its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 75.4% in the 4th quarter, according to the company in its most recent disclosure with the 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 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Daiwa Securities Group Inc. increased its stake in shares of Pinnacle West Capital by 14.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 5,238 shares of the utilities provider’s stock worth $464,000 after purchasing an additional 672 shares during the last quarter. Bank of Montreal Can increased its position in Pinnacle West Capital by 21.7% in the third quarter. Bank of Montreal Can now owns 247,548 shares of the utilities provider’s stock worth $21,851,000 after buying an additional 44,158 shares during the last quarter. BNP Paribas Financial Markets increased its position in Pinnacle West Capital by 73.3% in the third quarter. BNP Paribas Financial Markets now owns 200,755 shares of the utilities provider’s stock worth $17,785,000 after buying an additional 84,887 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of Pinnacle West Capital by 2.5% in the third quarter. Glenmede Trust Co. NA now owns 6,695 shares of the utilities provider’s stock valued at $593,000 after buying an additional 163 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Pinnacle West Capital by 7.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,139 shares of the utilities provider’s stock valued at $2,138,000 after buying an additional 1,733 shares during the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

Pinnacle West Capital Trading Up 1.3 %

NYSE PNW opened at $94.23 on Friday. 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 stock’s 50-day simple moving average is $90.28 and its two-hundred day simple moving average is $88.96. Pinnacle West Capital Co. has a twelve month low of $70.73 and a twelve month high of $95.42. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 3.59 and a beta of 0.53.

Pinnacle West Capital (NYSE:PNW) last released its earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Research analysts forecast that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNW. 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 note on Wednesday, December 4th. UBS Group raised their price objective 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. Morgan Stanley lifted their target price on Pinnacle West Capital from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Citigroup increased their price target on shares of Pinnacle West Capital from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Guggenheim reaffirmed a “buy” rating and set a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. Six investment 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’s stock. Based on data from MarketBeat.com, Pinnacle West Capital has an average rating of “Moderate Buy” and a consensus target price of $95.17.

Pinnacle West Capital Company 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.