Tudor Investment Corp ET AL Sells 42,248 Shares of Avista Corporation $AVA

Tudor Investment Corp ET AL lessened its position in Avista Corporation (NYSE:AVA) by 12.6% in the third quarter, HoldingsChannel reports. The firm owned 293,151 shares of the utilities provider’s stock after selling 42,248 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Avista were worth $11,084,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada lifted its position in Avista by 5.3% during the first quarter. Royal Bank of Canada now owns 65,494 shares of the utilities provider’s stock valued at $2,741,000 after buying an additional 3,296 shares during the period. AQR Capital Management LLC grew its position in shares of Avista by 11.1% in the 1st quarter. AQR Capital Management LLC now owns 69,831 shares of the utilities provider’s stock worth $2,924,000 after buying an additional 6,967 shares during the period. United Services Automobile Association bought a new position in shares of Avista in the 1st quarter worth about $201,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Avista by 26.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 283,182 shares of the utilities provider’s stock valued at $11,857,000 after acquiring an additional 58,504 shares during the period. Finally, Strs Ohio purchased a new position in Avista during the 1st quarter valued at about $134,000. 85.24% of the stock is currently owned by institutional investors.

Avista Stock Performance

Shares of AVA stock opened at $41.31 on Monday. Avista Corporation has a one year low of $35.50 and a one year high of $43.50. The company’s 50-day moving average is $40.73 and its 200 day moving average is $39.57. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 2.28 and a beta of 0.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.56 and a current ratio of 0.83.

Avista (NYSE:AVA) last issued its 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%. Sell-side analysts expect that Avista Corporation will post 2.3 EPS for the current fiscal year.

Avista Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Wednesday, February 25th were issued a $0.4925 dividend. This represents a $1.97 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Wednesday, February 25th. This is a positive change from Avista’s previous quarterly dividend of $0.49. Avista’s dividend payout ratio is 82.77%.

Insider Buying and Selling at Avista

In other news, SVP Bryan Alden Cox sold 1,768 shares of the business’s 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 $337,552.18. The trade was a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.96% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AVA. Jefferies Financial Group cut their price objective on shares of Avista from $41.00 to $39.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Barclays began coverage on shares of Avista in a report on Monday, March 9th. They set an “equal weight” rating and a $40.00 target price for the company. KeyCorp reissued a “sector weight” rating on shares of Avista in a research report on Tuesday, January 27th. Wells Fargo & Company cut their price target on Avista from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. Finally, Weiss Ratings raised Avista from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Avista has an average rating of “Hold” and an average price target of $39.50.

About Avista

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.