Baker Ellis Asset Management LLC held its stake in Avista Corp. (NYSE:AVA) during the second quarter, Holdings Channel reports. The firm owned 13,550 shares of the company’s stock at the end of the second quarter. Baker Ellis Asset Management LLC’s holdings in Avista Corp. were worth $607,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of AVA. Bank of Montreal Can purchased a new stake in Avista Corp. during the second quarter valued at $181,000. North Point Portfolio Managers Corp OH purchased a new stake in Avista Corp. during the second quarter valued at $206,000. C M Bidwell & Associates Ltd. purchased a new stake in Avista Corp. during the first quarter valued at $276,000. Boothbay Fund Management LLC purchased a new stake in Avista Corp. during the first quarter valued at $341,000. Finally, Eqis Capital Management Inc. boosted its stake in Avista Corp. by 23.5% in the second quarter. Eqis Capital Management Inc. now owns 9,588 shares of the company’s stock valued at $430,000 after buying an additional 1,825 shares during the period. 68.07% of the stock is owned by institutional investors and hedge funds.
Avista Corp. (NYSE:AVA) traded up 0.20% during trading on Thursday, hitting $39.53. 335,892 shares of the company were exchanged. The company has a 50-day moving average of $41.59 and a 200-day moving average of $41.63. Avista Corp. has a 12 month low of $32.61 and a 12 month high of $45.22. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 18.20 and a beta of 0.40.
Avista Corp. (NYSE:AVA) last announced its earnings results on Wednesday, August 3rd. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.02. The business had revenue of $234.79 million for the quarter, compared to analyst estimates of $316.24 million. Avista Corp. had a return on equity of 8.32% and a net margin of 9.38%. The business’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. Analysts forecast that Avista Corp. will post $2.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.3425 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.37 annualized dividend and a yield of 3.47%. Avista Corp.’s dividend payout ratio is currently 64.02%.
A number of research firms recently weighed in on AVA. Zacks Investment Research raised shares of Avista Corp. from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, June 14th. Williams Capital increased their price objective on shares of Avista Corp. from $38.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday, September 22nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $42.00 price objective on shares of Avista Corp. in a research report on Wednesday, June 22nd.
In other news, insider Marian M. Durkin sold 3,500 shares of the company’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $42.56, for a total value of $148,960.00. Following the completion of the transaction, the insider now directly owns 67,245 shares in the company, valued at $2,861,947.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jason R. Thackston sold 950 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $40.90, for a total transaction of $38,855.00. Following the completion of the transaction, the senior vice president now owns 17,232 shares of the company’s stock, valued at $704,788.80. The disclosure for this sale can be found here. Company insiders own 1.07% of the company’s stock.
About Avista Corp.
Avista Corporation is an electric and natural gas utility with certain other business ventures. The Company operates through two business segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). Avista Utilities segment generates, transmits and distributes electricity, and distributes natural gas serving electric and natural gas customers in eastern Washington and northern Idaho and natural gas customers in parts of Oregon.
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