TD Asset Management Inc. Has $2.05 Million Stake in Avista Corp (AVA)
TD Asset Management Inc. decreased its position in Avista Corp (NYSE:AVA) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,371 shares of the utilities provider’s stock after selling 300 shares during the period. TD Asset Management Inc. owned about 0.08% of Avista Corp worth $2,054,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its position in Avista Corp by 24,404.0% in the first quarter. BlackRock Inc. now owns 11,558,772 shares of the utilities provider’s stock worth $451,370,000 after buying an additional 11,511,601 shares in the last quarter. Vanguard Group Inc. increased its position in Avista Corp by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,254,298 shares of the utilities provider’s stock worth $244,231,000 after buying an additional 233,359 shares in the last quarter. Chartwell Investment Partners LLC increased its position in Avista Corp by 49.4% in the first quarter. Chartwell Investment Partners LLC now owns 386,921 shares of the utilities provider’s stock worth $15,109,000 after buying an additional 128,010 shares in the last quarter. First Trust Advisors LP increased its position in Avista Corp by 20.4% in the first quarter. First Trust Advisors LP now owns 681,225 shares of the utilities provider’s stock worth $26,602,000 after buying an additional 115,373 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new position in Avista Corp during the first quarter worth about $3,991,000. 69.29% of the stock is currently owned by hedge funds and other institutional investors.
Avista Corp (NYSE AVA) opened at 51.76 on Thursday. Avista Corp has a one year low of $37.78 and a one year high of $52.83. The stock has a market capitalization of $3.33 billion, a P/E ratio of 24.47 and a beta of 0.42. The company has a 50 day moving average of $49.10 and a 200-day moving average of $42.95.
Avista Corp (NYSE:AVA) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $314.50 million for the quarter, compared to analysts’ expectations of $326.33 million. Avista Corp had a return on equity of 5.18% and a net margin of 6.91%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 EPS. Equities research analysts predict that Avista Corp will post $1.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.3575 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.43 dividend on an annualized basis and a yield of 2.76%. Avista Corp’s dividend payout ratio is currently 67.77%.
A number of equities analysts have issued reports on AVA shares. Zacks Investment Research downgraded shares of Avista Corp from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Williams Capital downgraded shares of Avista Corp from a “hold” rating to a “sell” rating and boosted their price target for the stock from $38.00 to $42.00 in a report on Thursday, July 20th. BMO Capital Markets reissued a “hold” rating and issued a $53.00 price target on shares of Avista Corp in a report on Friday, July 21st. Finally, BidaskClub raised shares of Avista Corp from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Avista Corp currently has a consensus rating of “Hold” and a consensus target price of $47.75.
Avista Corp Company Profile
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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