Vanguard Group Inc. raised its stake in shares of Avista Corp. (NYSE:AVA) by 10.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,029,702 shares of the company’s stock after buying an additional 593,353 shares during the period. Vanguard Group Inc. owned 9.46% of Avista Corp. worth $270,130,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of AVA. Hillcrest Asset Management LLC purchased a new stake in Avista Corp. during the first quarter valued at about $9,180,000. Robeco Institutional Asset Management B.V. boosted its stake in Avista Corp. by 57.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 424,797 shares of the company’s stock valued at $19,032,000 after buying an additional 155,767 shares during the period. Prudential Financial Inc. boosted its stake in Avista Corp. by 70.2% in the first quarter. Prudential Financial Inc. now owns 246,330 shares of the company’s stock valued at $10,045,000 after buying an additional 101,600 shares during the period. First Trust Advisors LP boosted its stake in 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 during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in 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 during the period. 68.07% of the stock is owned by institutional investors.
Shares of Avista Corp. (NYSE:AVA) opened at 39.11 on Wednesday. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 18.01 and a beta of 0.40. The company’s 50-day moving average is $41.31 and its 200 day moving average is $41.61. Avista Corp. has a 52 week low of $32.61 and a 52 week high of $45.22.
Avista Corp. (NYSE:AVA) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.43 earnings per share (EPS) for the quarter, missing the 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 business earned $234.79 million during the quarter, compared to analyst estimates of $316.24 million. During the same period in the previous year, the company earned $0.40 EPS. Avista Corp.’s revenue was down 5.5% on a year-over-year basis. Analysts anticipate that Avista Corp. will post $2.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $0.3425 dividend. This represents a $1.37 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Tuesday, August 30th. Avista Corp.’s payout ratio is currently 64.02%.
Several research firms have recently issued reports 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 Wednesday, July 20th. Williams Capital lifted 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 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 sale, the insider now owns 67,245 shares of the company’s stock, valued at $2,861,947.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jason R. Thackston sold 950 shares of the stock in a transaction 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 sale, 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 currently owned by 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.
Receive News & Ratings for Avista Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avista Corp. and related companies with MarketBeat.com's FREE daily email newsletter.