Peregrine Capital Management LLC Cuts Stake in Avista Co. (NYSE:AVA)

Peregrine Capital Management LLC reduced its position in shares of Avista Co. (NYSE:AVA) by 3.5% in the fourth quarter, Holdings Channel reports. The firm owned 170,511 shares of the utilities provider’s stock after selling 6,240 shares during the quarter. Peregrine Capital Management LLC’s holdings in Avista were worth $6,246,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of AVA. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Avista during the third quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new stake in shares of Avista in the 3rd quarter worth $29,000. Allworth Financial LP raised its stake in shares of Avista by 296.7% in the fourth quarter. Allworth Financial LP now owns 956 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 715 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Avista by 43.0% during the fourth quarter. Versant Capital Management Inc now owns 1,723 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 518 shares in the last quarter. Finally, Eastern Bank boosted its position in shares of Avista by 309.3% during the fourth quarter. Eastern Bank now owns 1,842 shares of the utilities provider’s stock valued at $67,000 after buying an additional 1,392 shares during the last quarter. 85.24% of the stock is owned by hedge funds and other institutional investors.

Avista Stock Performance

AVA stock opened at $37.08 on Wednesday. The company has a market cap of $2.94 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 2.48 and a beta of 0.49. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.75 and a quick ratio of 0.48. Avista Co. has a 1 year low of $32.70 and a 1 year high of $39.99. The stock’s fifty day moving average price is $36.52 and its 200-day moving average price is $37.57.

Avista Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.49 per share. This is an increase from Avista’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date is Wednesday, February 26th. Avista’s payout ratio is currently 75.70%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group decreased their target price on Avista from $40.00 to $39.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th.

Avista Company Profile

Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in 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.