Laurel Wealth Advisors Inc. Increases Stake in Avista Corp (NYSE:AVA)

Laurel Wealth Advisors Inc. increased its position in shares of Avista Corp (NYSE:AVA) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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. owned about 0.08% of Avista worth $2,284,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AVA. CWM LLC boosted its holdings in Avista by 112.5% in the second quarter. CWM LLC now owns 850 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 450 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Avista by 553.5% in the second quarter. Parallel Advisors LLC now owns 1,111 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 941 shares in the last quarter. FinTrust Capital Advisors LLC boosted its holdings in Avista by 1,790.2% in the second quarter. FinTrust Capital Advisors LLC now owns 1,928 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 1,826 shares in the last quarter. Systematic Financial Management LP acquired a new stake in shares of Avista during the first quarter worth about $172,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Avista by 20.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,345 shares of the utilities provider’s stock worth $194,000 after purchasing an additional 743 shares during the period. Hedge funds and other institutional investors own 79.68% of the company’s stock.

Shares of Avista stock traded down $0.02 on Friday, reaching $48.23. 3,008 shares of the stock were exchanged, compared to its average volume of 271,003. 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 twelve month low of $39.75 and a twelve month high of $52.70. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 7.29 and a beta of 0.38. The business has a 50 day moving average price of $46.41 and a two-hundred day moving average price of $43.52.

Avista (NYSE:AVA) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03. The company had revenue of $300.81 million during the quarter, compared to analysts’ expectations of $315.08 million. Avista had a return on equity of 6.35% and a net margin of 14.43%. During the same period last year, the business earned $0.39 earnings per share. Research analysts forecast 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. Investors of record on Thursday, August 22nd will be given a dividend of $0.387 per share. This represents a $1.55 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, August 21st. Avista’s dividend payout ratio is currently 73.46%.

A number of equities research analysts recently commented on the company. KeyCorp reaffirmed an “underweight” rating and set a $35.00 target price on shares of Avista in a report on Wednesday, June 5th. TheStreet raised Avista from a “c+” rating to a “b-” rating in a report on Monday, June 10th. Zacks Investment Research raised Avista from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Finally, ValuEngine raised Avista from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $41.60.

In related news, Director R John Taylor sold 1,438 shares of Avista stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $46.78, for a total transaction of $67,269.64. Following the completion of the transaction, the director now directly owns 423 shares in the company, valued at $19,787.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP James M. Kensok sold 760 shares of Avista stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $46.95, for a total value of $35,682.00. Following the transaction, the vice president now owns 8,649 shares of the company’s stock, valued at $406,070.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,698 shares of company stock valued at $407,282. 1.10% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Avista (NYSE:AVA)

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