Federated Investors Inc. PA Raises Position in Avista Corporation (AVA)
Federated Investors Inc. PA raised its position in shares of Avista Corporation (NYSE:AVA) by 31.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 145,642 shares of the utilities provider’s stock after buying an additional 34,917 shares during the period. Federated Investors Inc. PA owned approximately 0.23% of Avista Corporation worth $6,184,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Swiss National Bank boosted its stake in shares of Avista Corporation by 1.0% in the first quarter. Swiss National Bank now owns 105,700 shares of the utilities provider’s stock worth $4,128,000 after buying an additional 1,000 shares in the last quarter. Rothschild Asset Management Inc. boosted its stake in shares of Avista Corporation by 2.7% in the second quarter. Rothschild Asset Management Inc. now owns 622,434 shares of the utilities provider’s stock worth $26,429,000 after buying an additional 16,656 shares in the last quarter. Teza Capital Management LLC acquired a new stake in shares of Avista Corporation during the first quarter worth approximately $265,000. OppenheimerFunds Inc. boosted its stake in shares of Avista Corporation by 3.4% in the first quarter. OppenheimerFunds Inc. now owns 203,486 shares of the utilities provider’s stock worth $7,946,000 after buying an additional 6,689 shares in the last quarter. Finally, Citadel Advisors LLC boosted its stake in shares of Avista Corporation by 6.4% in the first quarter. Citadel Advisors LLC now owns 68,540 shares of the utilities provider’s stock worth $2,676,000 after buying an additional 4,140 shares in the last quarter. 69.68% of the stock is owned by institutional investors and hedge funds.
Shares of Avista Corporation (NYSE:AVA) opened at 51.40 on Friday. The stock has a market capitalization of $3.31 billion, a PE ratio of 24.30 and a beta of 0.42. Avista Corporation has a 52 week low of $37.78 and a 52 week high of $52.83. The stock has a 50 day moving average of $50.74 and a 200-day moving average of $43.45.
Avista Corporation (NYSE:AVA) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by $0.03. The firm had revenue of $314.50 million for the quarter, compared to analysts’ expectations of $326.33 million. Avista Corporation had a net margin of 9.35% and a return on equity of 8.19%. Avista Corporation’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.43 earnings per share. On average, equities research analysts expect that Avista Corporation will post $1.93 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.3575 per share. This represents a $1.43 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Tuesday, August 29th. Avista Corporation’s dividend payout ratio (DPR) is 67.77%.
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A number of analysts have recently issued reports on AVA shares. Zacks Investment Research raised shares of Avista Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Friday, July 21st. Williams Capital cut shares of Avista Corporation from a “hold” rating to a “sell” rating and increased their price objective for the stock from $38.00 to $42.00 in a research note on Thursday, July 20th. BidaskClub raised shares of Avista Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, BMO Capital Markets reissued a “hold” rating and issued a $53.00 price objective on shares of Avista Corporation in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $47.75.
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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