Sterling Capital Management LLC Has $22.31 Million Stake in Avista Corp (AVA)
Sterling Capital Management LLC lifted its stake in shares of Avista Corp (NYSE:AVA) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 525,318 shares of the utilities provider’s stock after purchasing an additional 2,844 shares during the period. Sterling Capital Management LLC owned 0.82% of Avista Corp worth $22,305,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Boyer & Corporon Wealth Management LLC bought a new stake in shares of Avista Corp during the 2nd quarter worth approximately $2,239,000. Teacher Retirement System of Texas bought a new stake in shares of Avista Corp during the 2nd quarter worth approximately $218,000. Legal & General Group Plc raised its stake in shares of Avista Corp by 6.1% during the 2nd quarter. Legal & General Group Plc now owns 327,969 shares of the utilities provider’s stock worth $13,926,000 after purchasing an additional 18,828 shares in the last quarter. Federated Investors Inc. PA raised its stake in shares of Avista Corp by 31.5% during the 2nd quarter. Federated Investors Inc. PA now owns 145,642 shares of the utilities provider’s stock worth $6,184,000 after purchasing an additional 34,917 shares in the last quarter. Finally, Rothschild Asset Management Inc. raised its stake in shares of Avista Corp by 2.7% during the 2nd quarter. Rothschild Asset Management Inc. now owns 622,434 shares of the utilities provider’s stock worth $26,429,000 after purchasing an additional 16,656 shares in the last quarter. Institutional investors own 69.66% of the company’s stock.
Shares of Avista Corp (AVA) traded down 0.04% during midday trading on Friday, hitting $52.21. The stock had a trading volume of 136,309 shares. The firm has a market cap of $3.36 billion, a P/E ratio of 24.69 and a beta of 0.45. The company’s 50 day moving average is $51.70 and its 200 day moving average is $46.03. Avista Corp has a 52 week low of $37.78 and a 52 week high of $52.83.
Avista Corp (NYSE:AVA) last posted 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). Avista Corp had a return on equity of 5.18% and a net margin of 6.91%. The business had revenue of $314.50 million during the quarter, compared to analysts’ expectations of $326.33 million. During the same period in the prior year, the firm posted $0.43 EPS. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts predict that Avista Corp will post $1.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a $0.3575 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.43 annualized dividend and a yield of 2.74%. Avista Corp’s dividend payout ratio is currently 67.77%.
A number of equities research analysts have recently issued reports on AVA shares. Zacks Investment Research cut Avista Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Williams Capital cut Avista Corp from a “hold” rating to a “sell” rating and upped their price objective for the stock from $38.00 to $42.00 in a research note on Thursday, July 20th. BMO Capital Markets reiterated a “hold” rating and set a $53.00 price objective on shares of Avista Corp in a research note on Friday, July 21st. Finally, BidaskClub upgraded Avista Corp from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Avista Corp currently has an average rating of “Hold” and a consensus price target 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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