LSV Asset Management lessened its stake in Avista Corporation (NYSE:AVA) by 7.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 544,268 shares of the utilities provider’s stock after selling 42,500 shares during the period. LSV Asset Management owned 0.85% of Avista Corporation worth $23,109,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of AVA. Tyers Asset Management LLC increased its position in Avista Corporation by 11.5% during the 1st quarter. Tyers Asset Management LLC now owns 2,640 shares of the utilities provider’s stock worth $103,000 after purchasing an additional 272 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Avista Corporation by 73.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,901 shares of the utilities provider’s stock worth $113,000 after purchasing an additional 1,230 shares during the period. Elkfork Partners LLC increased its position in Avista Corporation by 11.5% during the 1st quarter. Elkfork Partners LLC now owns 3,630 shares of the utilities provider’s stock worth $142,000 after purchasing an additional 374 shares during the period. Meadow Creek Investment Management LLC increased its position in Avista Corporation by 11.5% during the 1st quarter. Meadow Creek Investment Management LLC now owns 4,620 shares of the utilities provider’s stock worth $181,000 after purchasing an additional 476 shares during the period. Finally, Ballentine Partners LLC acquired a new position in Avista Corporation during the 1st quarter worth approximately $210,000. Hedge funds and other institutional investors own 69.68% of the company’s stock.
Several equities analysts have issued reports on the company. BidaskClub upgraded Avista Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research upgraded Avista Corporation from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Tuesday, June 20th. BMO Capital Markets reiterated a “hold” rating and set a $53.00 target price on shares of Avista Corporation in a research report on Friday, July 21st. Finally, Williams Capital cut Avista Corporation from a “hold” rating to a “sell” rating and boosted their target price for the stock from $38.00 to $42.00 in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $47.75.
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Avista Corporation (NYSE:AVA) opened at 51.39 on Wednesday. Avista Corporation has a 52-week low of $37.78 and a 52-week high of $52.83. The firm has a market cap of $3.31 billion, a PE ratio of 24.30 and a beta of 0.45. The firm’s 50-day moving average price is $51.98 and its 200 day moving average price is $44.06.
Avista Corporation (NYSE:AVA) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). Avista Corporation had a net margin of 9.35% and a return on equity of 8.19%. The firm had revenue of $314.50 million during the quarter, compared to analyst estimates of $326.33 million. During the same quarter in the previous year, the business posted $0.43 EPS. Avista Corporation’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities analysts anticipate that Avista Corporation will post $1.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.3575 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.43 annualized dividend and a dividend yield of 2.78%. Avista Corporation’s payout ratio is currently 67.77%.
Avista Corporation Profile
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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