Eqis Capital Management Inc. increased its position in Avista Corporation (NYSE:AVA) by 1.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,124 shares of the utilities provider’s stock after buying an additional 125 shares during the period. Eqis Capital Management Inc.’s holdings in Avista Corporation were worth $387,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Two Sigma Investments LP acquired a new stake in Avista Corporation during the fourth quarter worth $686,000. Swiss National Bank boosted its stake in Avista Corporation by 1.0% in the first quarter. Swiss National Bank now owns 105,700 shares of the utilities provider’s stock worth $4,128,000 after buying an additional 1,000 shares in the last quarter. Teza Capital Management LLC acquired a new stake in Avista Corporation during the first quarter worth $265,000. OppenheimerFunds Inc. boosted its stake in Avista Corporation by 3.4% in the first quarter. OppenheimerFunds Inc. now owns 203,486 shares of the utilities provider’s stock valued at $7,946,000 after buying an additional 6,689 shares during the period. Finally, Citadel Advisors LLC boosted its stake in Avista Corporation by 6.4% in the first quarter. Citadel Advisors LLC now owns 68,540 shares of the utilities provider’s stock valued at $2,676,000 after buying an additional 4,140 shares during the period. 69.29% of the stock is owned by hedge funds and other institutional investors.
Shares of Avista Corporation (AVA) traded up 0.31% during mid-day trading on Friday, hitting $51.65. The stock had a trading volume of 1,103,293 shares. Avista Corporation has a 1-year low of $37.78 and a 1-year high of $52.83. The firm’s 50 day moving average price is $48.24 and its 200 day moving average price is $42.53. The company has a market cap of $3.33 billion, a P/E ratio of 24.42 and a beta of 0.42.
Avista Corporation (NYSE:AVA) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.03. Avista Corporation had a return on equity of 8.19% and a net margin of 9.35%. The business had revenue of $314.50 million for the quarter, compared to analyst estimates of $326.33 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. The business’s revenue was down 1.3% on a year-over-year basis. Analysts predict that Avista Corporation will post $1.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.3575 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.43 dividend on an annualized basis and a yield of 2.77%. Avista Corporation’s payout ratio is currently 67.77%.
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Several research firms have recently commented on AVA. Zacks Investment Research cut Avista Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub upgraded Avista Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. BMO Capital Markets restated a “hold” rating and issued a $53.00 price target on shares of Avista Corporation in a research report on Friday, July 21st. Finally, Williams Capital lowered Avista Corporation from a “hold” rating to a “sell” rating and lifted their target price for the stock from $38.00 to $42.00 in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $47.75.
About Avista Corporation
Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.
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