Avista Corporation $AVA Shares Sold by Aventail Capital Group LP

Aventail Capital Group LP lowered its position in Avista Corporation (NYSE:AVA) by 12.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,703 shares of the utilities provider’s stock after selling 22,857 shares during the quarter. Aventail Capital Group LP owned approximately 0.20% of Avista worth $6,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in shares of Avista by 2.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 14,042 shares of the utilities provider’s stock valued at $533,000 after acquiring an additional 269 shares during the period. Ameritas Investment Partners Inc. raised its position in Avista by 3.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,226 shares of the utilities provider’s stock valued at $312,000 after purchasing an additional 295 shares during the last quarter. Congress Asset Management Co. boosted its stake in Avista by 0.3% during the 3rd quarter. Congress Asset Management Co. now owns 85,589 shares of the utilities provider’s stock worth $3,236,000 after purchasing an additional 295 shares during the period. California State Teachers Retirement System boosted its stake in Avista by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 78,714 shares of the utilities provider’s stock worth $2,987,000 after purchasing an additional 379 shares during the period. Finally, Arizona State Retirement System grew its position in Avista by 1.7% during the 3rd quarter. Arizona State Retirement System now owns 23,839 shares of the utilities provider’s stock worth $901,000 after purchasing an additional 407 shares during the last quarter. 85.24% of the stock is owned by institutional investors and hedge funds.

Avista Stock Up 1.4%

Shares of NYSE:AVA opened at $39.85 on Friday. Avista Corporation has a fifty-two week low of $35.50 and a fifty-two week high of $43.50. The company has a quick ratio of 0.56, a current ratio of 0.83 and a debt-to-equity ratio of 1.04. The firm’s 50-day simple moving average is $40.65 and its 200-day simple moving average is $39.18. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 2.16 and a beta of 0.28.

Avista (NYSE:AVA) last posted its quarterly earnings results on Saturday, January 31st. The utilities provider reported $0.88 earnings per share (EPS) for the quarter. Avista had a net margin of 9.83% and a return on equity of 7.29%. As a group, equities research analysts predict that Avista Corporation will post 2.3 earnings per share for the current year.

Avista Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Wednesday, February 25th were paid a dividend of $0.4925 per share. This is a positive change from Avista’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $1.97 dividend on an annualized basis and a dividend yield of 4.9%. Avista’s dividend payout ratio (DPR) is currently 82.77%.

Analyst Ratings Changes

AVA has been the subject of a number of research reports. KeyCorp reaffirmed a “sector weight” rating on shares of Avista in a report on Tuesday, January 27th. Wells Fargo & Company lowered their price target on Avista from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Jefferies Financial Group dropped their price target on Avista from $41.00 to $39.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. Barclays started coverage on Avista in a research note on Monday, March 9th. They set an “equal weight” rating and a $40.00 price objective for the company. Finally, Weiss Ratings downgraded Avista from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $39.50.

Insider Activity at Avista

In other Avista news, SVP Bryan Alden Cox sold 1,768 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $40.18, for a total value of $71,038.24. Following the completion of the transaction, the senior vice president owned 8,401 shares in the company, valued at approximately $337,552.18. This represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Wayne O. Manuel sold 1,785 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $38.74, for a total value of $69,150.90. Following the completion of the transaction, the senior vice president owned 9,883 shares of the company’s stock, valued at $382,867.42. The trade was a 15.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,108 shares of company stock valued at $162,278 over the last three months. Insiders own 0.96% of the company’s stock.

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.