Macquarie Group Ltd. maintained its position in shares of Avista Corp. (NYSE:AVA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,500 shares of the company’s stock at the end of the second quarter. Macquarie Group Ltd.’s holdings in Avista Corp. were worth $515,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in shares of Avista Corp. during the first quarter worth approximately $1,040,000. 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 worth $69,000,000 after buying an additional 95,891 shares during the period. 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 worth $6,952,000 after buying an additional 15,124 shares during the period. 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 worth $359,000 after buying an additional 380 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Avista Corp. by 82.2% in the first quarter. Goldman Sachs Group Inc. now owns 145,900 shares of the company’s stock worth $5,949,000 after buying an additional 65,843 shares during the period. Institutional investors own 68.07% of the company’s stock.
Avista Corp. (NYSE:AVA) opened at 42.77 on Wednesday. The stock has a 50 day moving average price of $41.74 and a 200 day moving average price of $41.58. Avista Corp. has a 52 week low of $32.57 and a 52 week high of $45.22. The stock has a market cap of $2.72 billion, a PE ratio of 19.69 and a beta of 0.45.
Avista Corp. (NYSE:AVA) last issued its earnings results on Wednesday, August 3rd. The company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $316.24 million. During the same period in the previous year, the company earned $0.40 EPS. Avista Corp.’s quarterly revenue was down 5.5% on a year-over-year basis. On average, equities analysts predict that Avista Corp. will post $2.08 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.3425 dividend. This represents a $1.37 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Tuesday, August 30th. Avista Corp.’s dividend payout ratio is currently 64.02%.
AVA has been the subject of a number of research analyst reports. Zacks Investment Research cut Avista Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 9th. Williams Capital raised their target price on Avista Corp. from $38.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, September 22nd. Finally, BMO Capital Markets restated a “hold” rating and set a $42.00 target price on shares of Avista Corp. in a report on Wednesday, June 22nd.
In related news, insider Marian M. Durkin sold 3,500 shares of the stock in a transaction dated Friday, August 12th. The stock was 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 owns 67,245 shares of the company’s stock, valued at $2,861,947.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jason R. Thackston sold 950 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $40.90, for a total value of $38,855.00. Following the completion of the transaction, the senior vice president now directly owns 17,232 shares of the company’s stock, valued at approximately $704,788.80. The disclosure for this sale can be found here. 1.07% of the stock is owned by corporate insiders.
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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