Odyssean LLC Purchases 18,673 Shares of Avista Corporation $AVA

Odyssean LLC increased its position in shares of Avista Corporation (NYSE:AVA) by 97.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,891 shares of the utilities provider’s stock after buying an additional 18,673 shares during the period. Odyssean LLC’s holdings in Avista were worth $1,550,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AVA. BlackRock Inc. purchased a new position in Avista during the 2nd quarter valued at about $605,448,000. Bank of New York Mellon Corp purchased a new stake in shares of Avista in the 2nd quarter worth approximately $37,919,000. Goldman Sachs Group Inc. lifted its position in shares of Avista by 105.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,137,236 shares of the utilities provider’s stock worth $43,829,000 after purchasing an additional 582,742 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Avista by 37,219.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 541,136 shares of the utilities provider’s stock valued at $20,855,000 after purchasing an additional 539,686 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Avista during the second quarter valued at approximately $19,466,000. 85.24% of the stock is currently owned by institutional investors.

Insider Transactions at Avista

In related news, VP Joshua D. Diluciano sold 4,675 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $37.24, for a total transaction of $174,097.00. Following the transaction, the vice president directly owned 8,334 shares of the company’s stock, valued at $310,358.16. This represents a 35.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.78% of the stock is owned by corporate insiders.

Avista Trading Down 0.5%

NYSE:AVA opened at $37.46 on Friday. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 3.54 and a beta of 0.25. Avista Corporation has a 52 week low of $35.50 and a 52 week high of $43.50. The company has a quick ratio of 0.69, a current ratio of 1.10 and a debt-to-equity ratio of 1.08. The firm has a 50 day moving average of $39.85 and a 200 day moving average of $40.51.

Avista (NYSE:AVA) last released its quarterly earnings results on Friday, July 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.20. The business had revenue of $413.00 million for the quarter, compared to analyst estimates of $426.93 million. Avista had a net margin of 11.83% and a return on equity of 7.85%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 earnings per share. As a group, sell-side analysts anticipate that Avista Corporation will post 2.57 earnings per share for the current fiscal year.

Avista Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Tuesday, August 18th will be paid a dividend of $0.4925 per share. This represents a $1.97 annualized dividend and a yield of 5.3%. The ex-dividend date is Tuesday, August 18th. Avista’s payout ratio is 71.12%.

Analyst Ratings Changes

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

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.