Aventail Capital Group LP Decreases Stock Holdings in Avista Corporation $AVA

Aventail Capital Group LP reduced its stake in shares of Avista Corporation (NYSE:AVA) by 12.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 160,703 shares of the utilities provider’s stock after selling 22,857 shares during the quarter. Aventail Capital Group LP’s holdings in Avista were worth $6,076,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new stake in shares of Avista during the 3rd quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new stake in shares of Avista in the 2nd quarter worth approximately $37,000. Aquatic Capital Management LLC acquired a new stake in shares of Avista in the 3rd quarter worth approximately $43,000. Allworth Financial LP increased its stake in Avista by 51.7% in the 2nd quarter. Allworth Financial LP now owns 1,585 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 540 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Avista by 30.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,769 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 409 shares in the last quarter. 85.24% of the stock is owned by hedge funds and other institutional investors.

Avista Price Performance

AVA stock opened at $39.85 on Friday. The stock’s 50 day moving average price is $40.65 and its 200 day moving average price is $39.18. The firm has a market cap of $3.28 billion, a P/E ratio of 16.74, a PEG ratio of 2.16 and a beta of 0.28. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.56 and a current ratio of 0.83. Avista Corporation has a 1 year low of $35.50 and a 1 year high of $43.50.

Avista (NYSE:AVA) last released its quarterly earnings results on Saturday, January 31st. The utilities provider reported $0.88 earnings per share for the quarter. Avista had a return on equity of 7.29% and a net margin of 9.83%. On average, sell-side analysts expect that Avista Corporation will post 2.3 earnings per share for the current fiscal year.

Avista Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Wednesday, February 25th were given a dividend of $0.4925 per share. The ex-dividend date was Wednesday, February 25th. This represents a $1.97 dividend on an annualized basis and a yield of 4.9%. This is a boost from Avista’s previous quarterly dividend of $0.49. Avista’s dividend payout ratio (DPR) is 82.77%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. KeyCorp reaffirmed a “sector weight” rating on shares of Avista in a report on Tuesday, January 27th. Wells Fargo & Company dropped their price target on Avista from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Jefferies Financial Group cut their price target on Avista from $41.00 to $39.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. Weiss Ratings lowered shares of Avista from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Barclays started coverage on shares of Avista in a research note on Monday, March 9th. They issued an “equal weight” rating and a $40.00 price objective on the stock. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $39.50.

Insider Transactions at Avista

In related news, SVP Bryan Alden Cox sold 1,768 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $40.18, for a total value of $71,038.24. Following the completion of the transaction, the senior vice president owned 8,401 shares of the company’s stock, valued at approximately $337,552.18. The trade was a 17.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Wayne O. Manuel sold 1,785 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $38.74, for a total transaction of $69,150.90. Following the completion of the transaction, the senior vice president owned 9,883 shares in the company, valued at approximately $382,867.42. This trade represents a 15.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 4,108 shares of company stock valued at $162,278. 0.96% of the stock is currently owned by company insiders.

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.