211,704 Shares in Avista Corporation $AVA Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Avista Corporation (NYSE:AVA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 211,704 shares of the utilities provider’s stock, valued at approximately $8,661,000. Meiji Yasuda Asset Management Co Ltd. owned approximately 0.25% of Avista at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVA. Moors & Cabot Inc. grew its holdings in Avista by 2.5% in the fourth quarter. Moors & Cabot Inc. now owns 10,182 shares of the utilities provider’s stock valued at $392,000 after purchasing an additional 251 shares during the last quarter. Lido Advisors LLC boosted its position in shares of Avista by 3.3% in the 4th quarter. Lido Advisors LLC now owns 7,941 shares of the utilities provider’s stock worth $302,000 after buying an additional 251 shares in the last quarter. Allworth Financial LP boosted its position in shares of Avista by 14.4% in the 4th quarter. Allworth Financial LP now owns 2,020 shares of the utilities provider’s stock worth $78,000 after buying an additional 255 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Avista by 14.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,279 shares of the utilities provider’s stock valued at $88,000 after acquiring an additional 283 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Avista by 1.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,621 shares of the utilities provider’s stock valued at $718,000 after acquiring an additional 300 shares in the last quarter. 85.24% of the stock is owned by institutional investors and hedge funds.

Avista Stock Up 0.1%

Shares of NYSE AVA opened at $37.62 on Monday. The firm has a market cap of $3.15 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 3.52 and a beta of 0.25. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.69 and a current ratio of 1.10. Avista Corporation has a 1 year low of $35.50 and a 1 year high of $43.50. The firm’s 50 day moving average price is $40.42 and its 200 day moving average price is $40.81.

Avista (NYSE:AVA) last issued its quarterly earnings results on Friday, July 31st. The utilities provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.20. Avista had a return on equity of 7.85% and a net margin of 11.83%.The company had revenue of $413.00 million for the quarter, compared to analyst estimates of $426.93 million. During the same quarter in the prior year, the company posted $0.17 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Avista Corporation will post 2.58 earnings per share for the current year.

Avista Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Tuesday, August 18th will be paid a $0.4925 dividend. This represents a $1.97 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, August 18th. Avista’s dividend payout ratio (DPR) is presently 71.12%.

Analyst Ratings Changes

A number of brokerages have issued reports on AVA. Barclays cut their target price on shares of Avista from $40.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 4th. Mizuho raised their price objective on shares of Avista from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Zacks Research upgraded Avista from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Finally, Weiss Ratings raised Avista from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.25.

Avista Profile

Avista Corporation operates as an integrated energy company providing electric and natural gas delivery services to residential, commercial and industrial customers in the Pacific Northwest. Through its regulated utility operations, the company maintains and upgrades an extensive transmission and distribution network, delivering reliable energy to approximately 400,000 electric customers and 324,000 natural gas customers across Washington, Oregon and Idaho. In addition to its core utility business, Avista invests in owned generation assets, including hydroelectric, natural gas–fired, coal and wind facilities, to support system reliability and long-term supply planning.

Founded in 1889 as the Spokane and Inland Empire Water Power Company, the business adopted the Avista name in 1999 to reflect its growing energy portfolio and strategic focus on innovation.