Bank of New York Mellon Corp Sells 10,707 Shares of Avista Corporation (AVA)
Bank of New York Mellon Corp decreased its position in Avista Corporation (NYSE:AVA) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,234,060 shares of the utilities provider’s stock after selling 10,707 shares during the period. Bank of New York Mellon Corp owned about 1.92% of Avista Corporation worth $52,398,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. Swiss National Bank increased its stake in 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. increased its stake in 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 Avista Corporation during the first quarter worth $265,000. OppenheimerFunds Inc. increased its stake in 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 increased its stake in 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. Hedge funds and other institutional investors own 69.68% of the company’s stock.
Avista Corporation (NYSE:AVA) opened at 51.54 on Friday. The firm’s 50 day moving average price is $51.00 and its 200-day moving average price is $43.54. Avista Corporation has a one year low of $37.78 and a one year high of $52.83. The company has a market capitalization of $3.32 billion, a PE ratio of 24.37 and a beta of 0.45.
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 consensus estimate of $0.37 by $0.03. Avista Corporation had a return on equity of 8.19% and a net margin of 9.35%. The business had revenue of $314.50 million for the quarter, compared to the consensus estimate of $326.33 million. During the same quarter in the prior year, the company earned $0.43 earnings per share. Avista Corporation’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities analysts forecast that Avista Corporation will post $1.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.3575 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.43 annualized dividend and a dividend yield of 2.77%. Avista Corporation’s dividend payout ratio is currently 67.77%.
A number of equities research analysts have weighed in on AVA shares. Zacks Investment Research upgraded shares of Avista Corporation from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Friday, July 21st. Williams Capital downgraded shares of Avista Corporation from a “hold” rating to a “sell” rating and lifted their price target for the stock from $38.00 to $42.00 in a research note on Thursday, July 20th. BidaskClub upgraded shares of Avista Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, BMO Capital Markets reiterated a “hold” rating and set a $53.00 price target on shares of Avista Corporation in a research note on Friday, July 21st. One research 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’s stock. The company presently has a consensus rating of “Hold” and an average target price 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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