Tower Research Capital LLC TRC raised its stake in Avista Corp. (NYSE:AVA) by 24,520.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,462 shares of the company’s stock after buying an additional 2,452 shares during the period. Tower Research Capital LLC TRC’s holdings in Avista Corp. were worth $111,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Prudential Financial Inc. boosted its position in shares of Avista Corp. by 1.9% in the second quarter. Prudential Financial Inc. now owns 250,910 shares of the company’s stock valued at $11,241,000 after buying an additional 4,580 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Avista Corp. by 6.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,692,007 shares of the company’s stock valued at $69,000,000 after buying an additional 95,891 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of Avista Corp. by 10.8% in the second quarter. Global X Management Co. LLC now owns 155,170 shares of the company’s stock valued at $6,952,000 after buying an additional 15,124 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Avista Corp. by 31.6% in the second quarter. First Trust Advisors LP now owns 422,174 shares of the company’s stock valued at $18,913,000 after buying an additional 101,326 shares in the last quarter. Finally, PineBridge Investments L.P. boosted its position in shares of Avista Corp. by 5.0% in the second quarter. PineBridge Investments L.P. now owns 8,016 shares of the company’s stock valued at $359,000 after buying an additional 380 shares in the last quarter. 68.07% of the stock is currently owned by institutional investors.
Shares of Avista Corp. (NYSE:AVA) opened at 39.81 on Friday. The firm has a 50-day moving average of $41.20 and a 200-day moving average of $41.59. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 18.33 and a beta of 0.40. Avista Corp. has a 12 month low of $32.61 and a 12 month high of $45.22.
Avista Corp. (NYSE:AVA) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by $0.02. Avista Corp. had a return on equity of 8.32% and a net margin of 9.38%. The company earned $234.79 million during the quarter, compared to the consensus estimate of $316.24 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The business’s revenue was down 5.5% compared to the same quarter last year. On average, analysts anticipate that Avista Corp. will post $2.08 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.3425 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.44%. Avista Corp.’s dividend payout ratio is presently 64.02%.
Several research analysts have recently commented on AVA shares. Zacks Investment Research raised shares of Avista Corp. from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Tuesday, October 4th. Williams Capital lifted their price objective on shares of Avista Corp. from $38.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, September 22nd. Finally, BMO Capital Markets reissued a “hold” rating and issued a $42.00 price objective on shares of Avista Corp. in a research note on Wednesday, June 22nd.
In related news, insider Marian M. Durkin sold 3,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 67,245 shares of the company’s stock, valued at $2,861,947.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jason R. Thackston sold 950 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was 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 directly owns 17,232 shares in the company, valued at approximately $704,788.80. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by insiders.
Avista Corp. Company Profile
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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