Washington Trust Bank maintained its position in shares of Avista Corporation (NYSE:AVA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,832 shares of the utilities provider’s stock at the end of the second quarter. Washington Trust Bank’s holdings in Avista Corporation were worth $120,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AVA. BlackRock Inc. boosted its position in shares of Avista Corporation by 24,404.0% in the first quarter. BlackRock Inc. now owns 11,558,772 shares of the utilities provider’s stock valued at $451,370,000 after buying an additional 11,511,601 shares during the period. Norges Bank purchased a new position in shares of Avista Corporation during the fourth quarter valued at approximately $27,556,000. Vanguard Group Inc. boosted its position in shares of Avista Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,254,298 shares of the utilities provider’s stock valued at $244,231,000 after buying an additional 233,359 shares during the period. Chartwell Investment Partners LLC boosted its position in shares of Avista Corporation by 49.4% in the first quarter. Chartwell Investment Partners LLC now owns 386,921 shares of the utilities provider’s stock valued at $15,109,000 after buying an additional 128,010 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Avista Corporation by 20.4% in the first quarter. First Trust Advisors LP now owns 681,225 shares of the utilities provider’s stock valued at $26,602,000 after buying an additional 115,373 shares during the period. 69.11% of the stock is owned by hedge funds and other institutional investors.
Avista Corporation (NYSE:AVA) traded up 0.02% on Friday, reaching $52.30. The company’s stock had a trading volume of 997,971 shares. Avista Corporation has a 12 month low of $37.78 and a 12 month high of $52.83. The company has a market cap of $3.37 billion, a P/E ratio of 24.73 and a beta of 0.42. The company has a 50-day moving average price of $47.25 and a 200 day moving average price of $42.16.
Avista Corporation (NYSE:AVA) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share for the quarter, missing the 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 the consensus estimate of $326.33 million. During the same quarter in the prior year, the company earned $0.43 earnings per share. Avista Corporation’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that Avista Corporation will post $1.94 EPS for the current fiscal year.
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AVA has been the subject of several research reports. Zacks Investment Research cut Avista Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. BMO Capital Markets reiterated a “hold” rating and set a $53.00 price objective on shares of Avista Corporation in a research note on Friday, July 21st. Williams Capital lowered Avista Corporation from a “hold” rating to a “sell” rating and increased their price objective for the stock from $38.00 to $42.00 in a research note on Thursday, July 20th. Finally, BidaskClub upgraded Avista Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Avista Corporation presently has an average rating of “Hold” and a consensus price target 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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