Avista Corporation $AVA Stock: RWC Asset Management LLP Lowers Position

RWC Asset Management LLP lessened its stake in shares of Avista Corporation (NYSE:AVA) by 20.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 171,708 shares of the utilities provider’s stock after selling 44,780 shares during the period. RWC Asset Management LLP’s holdings in Avista were worth $6,025,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Sequoia Financial Advisors LLC raised its stake in shares of Avista by 4.5% in the first quarter. Sequoia Financial Advisors LLC now owns 9,028 shares of the utilities provider’s stock worth $362,000 after buying an additional 385 shares during the period. Arizona State Retirement System grew its stake in shares of Avista by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 22,775 shares of the utilities provider’s stock valued at $932,000 after acquiring an additional 419 shares during the period. Cim Investment Management Inc. grew its stake in shares of Avista by 7.4% during the 2nd quarter. Cim Investment Management Inc. now owns 6,595 shares of the utilities provider’s stock valued at $270,000 after acquiring an additional 455 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Avista by 22.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the utilities provider’s stock worth $112,000 after acquiring an additional 503 shares in the last quarter. Finally, Hennessy Advisors Inc. increased its holdings in Avista by 2.7% in the 2nd quarter. Hennessy Advisors Inc. now owns 22,872 shares of the utilities provider’s stock worth $936,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 85.24% of the company’s stock.

Avista Price Performance

Shares of NYSE AVA traded down $0.02 during mid-day trading on Friday, reaching $37.72. The company’s stock had a trading volume of 475,166 shares, compared to its average volume of 671,874. The firm has a market capitalization of $3.16 billion, a PE ratio of 13.62, a P/E/G ratio of 3.52 and a beta of 0.23. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.10 and a quick ratio of 0.69. The stock has a fifty day moving average of $36.67 and a two-hundred day moving average of $39.48. Avista Corporation has a 52 week low of $34.46 and a 52 week high of $43.50.

Avista (NYSE:AVA) last issued its earnings results on Friday, July 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.20. The company had revenue of $413.00 million for the quarter, compared to the consensus estimate of $426.93 million. Avista had a return on equity of 7.85% and a net margin of 11.83%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS. As a group, sell-side analysts anticipate that Avista Corporation will post 2.59 EPS for the current fiscal year.

Avista Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Tuesday, August 18th were paid a $0.4925 dividend. This represents a $1.97 annualized dividend and a yield of 5.2%. The ex-dividend date was Tuesday, August 18th. Avista’s dividend payout ratio is presently 71.12%.

Insider Transactions at Avista

In other Avista news, VP Joshua Diluciano sold 4,675 shares of the stock in a transaction that occurred on 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 sale, the vice president directly owned 8,334 shares of the company’s stock, valued at $310,358.16. This trade represents a 35.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.78% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AVA has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of Avista from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 9th. Barclays decreased their price objective on shares of Avista from $37.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, October 9th. Seven investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, Avista has an average rating of “Hold” and an average price target of $38.75.

Avista Company Profile

Avista Corporation is an energy company headquartered in Spokane, Washington. Through its Avista Utilities subsidiary, the company provides regulated electric and natural gas services to residential, commercial, and industrial customers.

Avista’s electric operations serve communities in eastern Washington and northern Idaho, while its natural gas service territory includes portions of Washington, Idaho, and Oregon. The company’s utility activities include generating, purchasing, transmitting, distributing, and supplying energy, as well as maintaining the infrastructure needed to deliver those services.

The company traces its history to the founding of Washington Water Power in 1889.