Laurel Wealth Advisors Inc. grew its holdings in Avista Corp (NYSE:AVA) by 1.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 51,205 shares of the utilities provider’s stock after buying an additional 970 shares during the period. Laurel Wealth Advisors Inc.’s holdings in Avista were worth $2,284,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue lifted its stake in shares of Avista by 1.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 22,379 shares of the utilities provider’s stock valued at $998,000 after purchasing an additional 230 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Avista by 3.3% during the 2nd quarter. D.A. Davidson & CO. now owns 9,310 shares of the utilities provider’s stock worth $415,000 after acquiring an additional 300 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Avista by 0.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 35,128 shares of the utilities provider’s stock worth $1,567,000 after acquiring an additional 306 shares in the last quarter. 6 Meridian lifted its stake in Avista by 2.2% during the 2nd quarter. 6 Meridian now owns 16,927 shares of the utilities provider’s stock worth $755,000 after acquiring an additional 359 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in Avista by 2.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 19,660 shares of the utilities provider’s stock worth $877,000 after acquiring an additional 410 shares in the last quarter. 79.68% of the stock is currently owned by institutional investors and hedge funds.
NYSE AVA traded down $0.02 during trading hours on Friday, hitting $48.23. 3,008 shares of the company were exchanged, compared to its average volume of 271,003. The company has a 50 day moving average of $46.41 and a two-hundred day moving average of $43.52. The company has a quick ratio of 0.39, a current ratio of 0.52 and a debt-to-equity ratio of 0.93. Avista Corp has a 52-week low of $39.75 and a 52-week high of $52.70. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 7.29 and a beta of 0.38.
Avista (NYSE:AVA) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.03. Avista had a return on equity of 6.35% and a net margin of 14.43%. The company had revenue of $300.81 million for the quarter, compared to the consensus estimate of $315.08 million. During the same quarter in the prior year, the business earned $0.39 EPS. On average, equities research analysts predict that Avista Corp will post 1.95 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.387 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.55 annualized dividend and a yield of 3.21%. Avista’s dividend payout ratio (DPR) is 73.46%.
In other Avista news, Director R John Taylor sold 1,438 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $46.78, for a total transaction of $67,269.64. Following the sale, the director now owns 423 shares in the company, valued at approximately $19,787.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP James M. Kensok sold 760 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $46.95, for a total value of $35,682.00. Following the sale, the vice president now owns 8,649 shares in the company, valued at approximately $406,070.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,698 shares of company stock worth $407,282. 1.10% of the stock is owned by company insiders.
Several equities analysts recently issued reports on AVA shares. KeyCorp reissued an “underweight” rating and set a $35.00 target price on shares of Avista in a research note on Wednesday, June 5th. Zacks Investment Research raised Avista from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. TheStreet raised Avista from a “c+” rating to a “b-” rating in a research note on Monday, June 10th. Finally, ValuEngine raised Avista from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $41.60.
Avista Company Profile
Avista Corporation operates as an electric and natural gas utility company. It operates through two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.
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