AQR Capital Management LLC Sells 41,007 Shares of Pinnacle West Capital Co. (NYSE:PNW)

AQR Capital Management LLC decreased its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 40.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,118 shares of the utilities provider’s stock after selling 41,007 shares during the period. AQR Capital Management LLC owned about 0.05% of Pinnacle West Capital worth $4,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PNW. Blue Trust Inc. lifted its position in Pinnacle West Capital by 377.9% during the second quarter. Blue Trust Inc. now owns 368 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 291 shares in the last quarter. Cape Investment Advisory Inc. bought a new position in shares of Pinnacle West Capital during the 1st quarter valued at approximately $30,000. Newbridge Financial Services Group Inc. grew its stake in shares of Pinnacle West Capital by 70.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 481 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 199 shares during the period. Rise Advisors LLC purchased a new stake in Pinnacle West Capital in the 1st quarter worth approximately $36,000. Finally, Riverview Trust Co bought a new stake in Pinnacle West Capital during the 1st quarter worth approximately $46,000. Institutional investors own 91.51% of the company’s stock.

Wall Street Analysts Forecast Growth

PNW has been the subject of a number of analyst reports. Wells Fargo & Company increased their price objective on shares of Pinnacle West Capital from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Barclays decreased their price target on Pinnacle West Capital from $81.00 to $78.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Morgan Stanley upped their price objective on Pinnacle West Capital from $78.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group assumed coverage on Pinnacle West Capital in a research note on Thursday, September 19th. They set a “buy” rating and a $104.00 target price on the stock. Finally, StockNews.com upgraded Pinnacle West Capital from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Pinnacle West Capital has an average rating of “Hold” and a consensus target price of $80.54.

Pinnacle West Capital Stock Down 1.7 %

NYSE PNW opened at $87.98 on Friday. The stock has a 50 day moving average price of $87.82 and a 200-day moving average price of $80.27. Pinnacle West Capital Co. has a one year low of $65.20 and a one year high of $91.57. The company has a market capitalization of $9.99 billion, a P/E ratio of 19.17, a P/E/G ratio of 2.30 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.48 and a current ratio of 0.66.

Pinnacle West Capital (NYSE:PNW) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.45. Pinnacle West Capital had a net margin of 12.65% and a return on equity of 9.75%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the company posted $0.94 EPS. The business’s revenue was up 15.7% on a year-over-year basis. As a group, equities analysts predict that Pinnacle West Capital Co. will post 4.77 EPS for the current fiscal year.

Insider Buying and Selling at Pinnacle West Capital

In other news, EVP Robert Edgar Smith sold 4,950 shares of Pinnacle West Capital stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $85.80, for a total value of $424,710.00. Following the completion of the transaction, the executive vice president now owns 6,397 shares in the company, valued at approximately $548,862.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

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.