Jupiter Topco LLC purchased a new stake in shares of Avista Corporation (NYSE:AVA – Free Report) in the second quarter, HoldingsChannel reports. The firm purchased 35,430 shares of the utilities provider’s stock, valued at approximately $1,449,000.
Other large investors also recently added to or reduced their stakes in the company. Moors & Cabot Inc. grew its stake in shares of Avista by 2.5% during the fourth quarter. Moors & Cabot Inc. now owns 10,182 shares of the utilities provider’s stock worth $392,000 after purchasing an additional 251 shares in the last quarter. Lido Advisors LLC raised its stake in Avista by 3.3% in the fourth quarter. Lido Advisors LLC now owns 7,941 shares of the utilities provider’s stock valued at $302,000 after buying an additional 251 shares in the last quarter. Allworth Financial LP lifted its holdings in Avista by 14.4% during the 4th quarter. Allworth Financial LP now owns 2,020 shares of the utilities provider’s stock worth $78,000 after buying an additional 255 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Avista by 14.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,279 shares of the utilities provider’s stock worth $88,000 after acquiring an additional 283 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in Avista by 1.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,621 shares of the utilities provider’s stock valued at $718,000 after purchasing an additional 300 shares during the last quarter. 85.24% of the stock is currently owned by institutional investors and hedge funds.
Avista Stock Down 0.5%
Shares of NYSE AVA opened at $37.46 on Friday. Avista Corporation has a 52-week low of $35.50 and a 52-week high of $43.50. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.69 and a current ratio of 1.10. The stock has a market cap of $3.14 billion, a P/E ratio of 13.52, a P/E/G ratio of 3.54 and a beta of 0.25. The firm has a 50 day moving average price of $39.85 and a 200 day moving average price of $40.51.
Avista Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Tuesday, August 18th will be issued a dividend of $0.4925 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.97 annualized dividend and a yield of 5.3%. Avista’s dividend payout ratio is presently 71.12%.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Barclays lowered their target price on Avista from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Zacks Research raised shares of Avista from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Finally, Weiss Ratings upgraded shares of Avista from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $39.25.
Get Our Latest Stock Report on Avista
Insiders Place Their Bets
In other news, VP Joshua D. Diluciano sold 4,675 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $37.24, for a total transaction of $174,097.00. Following the completion of the transaction, the vice president directly owned 8,334 shares in the company, valued at $310,358.16. This represents a 35.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.78% of the company’s stock.
About Avista
Avista Corporation operates as an integrated energy company providing electric and natural gas delivery services to residential, commercial and industrial customers in the Pacific Northwest. Through its regulated utility operations, the company maintains and upgrades an extensive transmission and distribution network, delivering reliable energy to approximately 400,000 electric customers and 324,000 natural gas customers across Washington, Oregon and Idaho. In addition to its core utility business, Avista invests in owned generation assets, including hydroelectric, natural gas–fired, coal and wind facilities, to support system reliability and long-term supply planning.
Founded in 1889 as the Spokane and Inland Empire Water Power Company, the business adopted the Avista name in 1999 to reflect its growing energy portfolio and strategic focus on innovation.
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