9,029 Shares in Avista Corp (NYSE:AVA) Purchased by Balyasny Asset Management LLC
Balyasny Asset Management LLC acquired a new position in shares of Avista Corp (NYSE:AVA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,029 shares of the utilities provider’s stock, valued at approximately $329,000.
A number of other institutional investors also recently added to or reduced their stakes in AVA. Advisor Group Holdings Inc. boosted its holdings in Avista by 44.6% in the second quarter. Advisor Group Holdings Inc. now owns 29,679 shares of the utilities provider’s stock valued at $1,081,000 after acquiring an additional 9,156 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Avista by 1.3% in the 2nd quarter. Baird Financial Group Inc. now owns 31,236 shares of the utilities provider’s stock valued at $1,502,000 after acquiring an additional 403 shares during the period. TD Asset Management Inc. acquired a new position in shares of Avista during the 2nd quarter valued at $1,095,000. Bank of Montreal Can boosted its position in Avista by 239.6% during the 2nd quarter. Bank of Montreal Can now owns 8,316 shares of the utilities provider’s stock worth $293,000 after purchasing an additional 5,867 shares during the period. Finally, American International Group Inc. increased its holdings in Avista by 3.9% in the 2nd quarter. American International Group Inc. now owns 47,620 shares of the utilities provider’s stock valued at $1,733,000 after purchasing an additional 1,803 shares in the last quarter. Hedge funds and other institutional investors own 75.95% of the company’s stock.
Shares of AVA opened at $34.58 on Wednesday. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 3.52 and a beta of 0.37. The stock has a 50 day moving average of $36.75 and a 200-day moving average of $39.56. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 0.96. Avista Corp has a 52 week low of $32.09 and a 52 week high of $53.00.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Thursday, August 20th were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 4.68%. The ex-dividend date was Wednesday, August 19th. Avista’s dividend payout ratio (DPR) is presently 93.10%.
Several brokerages recently commented on AVA. TheStreet downgraded Avista from a “b-” rating to a “c+” rating in a report on Thursday, May 21st. Zacks Investment Research lowered shares of Avista from a “hold” rating to a “sell” rating in a research note on Monday, August 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.67.
In related news, VP David J. Meyer sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $36.49, for a total transaction of $27,367.50. Following the completion of the transaction, the vice president now owns 4,382 shares in the company, valued at approximately $159,899.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R John Taylor sold 2,000 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $37.24, for a total value of $74,480.00. Following the transaction, the director now owns 951 shares of the company’s stock, valued at $35,415.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,500 shares of company stock valued at $128,923. Insiders own 0.98% of the company’s stock.
Avista Corporation operates as an electric and natural gas utility company. It operates through two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.
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