BNP Paribas Arbitrage SA increased its stake in shares of Avista Corporation (NYSE:AVA) by 54.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,481 shares of the utilities provider’s stock after acquiring an additional 7,541 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Avista Corporation were worth $912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Tyers Asset Management LLC lifted its holdings in Avista Corporation by 11.5% in the 1st quarter. Tyers Asset Management LLC now owns 2,640 shares of the utilities provider’s stock worth $103,000 after buying an additional 272 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Avista Corporation by 73.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,901 shares of the utilities provider’s stock worth $113,000 after buying an additional 1,230 shares during the period. Elkfork Partners LLC lifted its holdings in Avista Corporation by 11.5% in the 1st quarter. Elkfork Partners LLC now owns 3,630 shares of the utilities provider’s stock worth $142,000 after buying an additional 374 shares during the period. Meadow Creek Investment Management LLC lifted its holdings in Avista Corporation by 11.5% in the 1st quarter. Meadow Creek Investment Management LLC now owns 4,620 shares of the utilities provider’s stock worth $181,000 after buying an additional 476 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in Avista Corporation in the 2nd quarter worth approximately $218,000. Institutional investors and hedge funds own 69.68% of the company’s stock.
A number of research analysts have issued reports on AVA shares. Zacks Investment Research lowered Avista Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. BidaskClub raised Avista Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. BMO Capital Markets reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Avista Corporation in a report on Friday, July 21st. Finally, Williams Capital lowered Avista Corporation from a “hold” rating to a “sell” rating and lifted their price objective for the stock from $38.00 to $42.00 in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $47.75.
Avista Corporation (AVA) opened at 51.64 on Friday. Avista Corporation has a 1-year low of $37.78 and a 1-year high of $52.83. The company has a market cap of $3.33 billion, a PE ratio of 24.42 and a beta of 0.45. The stock’s 50 day moving average price is $51.85 and its 200-day moving average price is $44.34.
Avista Corporation (NYSE:AVA) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The company had revenue of $314.50 million for the quarter, compared to analyst estimates of $326.33 million. Avista Corporation had a return on equity of 8.19% and a net margin of 9.35%. Avista Corporation’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 earnings per share. On average, analysts forecast that Avista Corporation will post $1.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a dividend of $0.3575 per share. This represents a $1.43 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Tuesday, August 29th. Avista Corporation’s dividend payout ratio is currently 67.77%.
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About Avista Corporation
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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