Oregon Public Employees Retirement Fund lessened its stake in shares of Avista Co. (NYSE:AVA – Free Report) by 3.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,693 shares of the utilities provider’s stock after selling 860 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Avista were worth $1,006,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. D.A. Davidson & CO. grew its stake in Avista by 3.8% during the first quarter. D.A. Davidson & CO. now owns 6,983 shares of the utilities provider’s stock valued at $315,000 after acquiring an additional 254 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in shares of Avista by 6.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,559 shares of the utilities provider’s stock valued at $202,000 after purchasing an additional 263 shares in the last quarter. Metropolitan Life Insurance Co NY increased its holdings in shares of Avista by 6.1% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 4,559 shares of the utilities provider’s stock worth $202,000 after purchasing an additional 263 shares during the period. Captrust Financial Advisors increased its holdings in shares of Avista by 2.8% in the second quarter. Captrust Financial Advisors now owns 10,050 shares of the utilities provider’s stock worth $437,000 after purchasing an additional 271 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of Avista by 0.4% in the second quarter. Prudential Financial Inc. now owns 77,496 shares of the utilities provider’s stock worth $3,319,000 after buying an additional 274 shares in the last quarter. 89.15% of the stock is currently owned by institutional investors.
Avista Stock Performance
Shares of NYSE AVA opened at $36.77 on Wednesday. The stock’s 50-day moving average is $39.35 and its 200 day moving average is $41.16. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 2.52 and a beta of 0.49. Avista Co. has a 1-year low of $35.72 and a 1-year high of $45.28. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 1.08.
Avista Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be issued a $0.46 dividend. The ex-dividend date is Thursday, August 17th. This represents a $1.84 annualized dividend and a dividend yield of 5.00%. Avista’s dividend payout ratio is currently 95.34%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. StockNews.com upgraded Avista from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Guggenheim decreased their price objective on shares of Avista from $35.00 to $33.00 in a research report on Friday, July 7th. Finally, Mizuho dropped their target price on shares of Avista from $38.00 to $36.00 and set an “underperform” rating for the company in a research report on Friday, July 21st.
Check Out Our Latest Analysis on AVA
Insider Activity
In related news, VP Scott J. Kinney purchased 1,257 shares of Avista stock in a transaction that occurred on Thursday, June 15th. The shares were acquired at an average cost of $40.08 per share, for a total transaction of $50,380.56. Following the transaction, the vice president now directly owns 1,257 shares in the company, valued at $50,380.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Mark T. Thies sold 46,006 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $41.45, for a total transaction of $1,906,948.70. Following the transaction, the executive vice president now owns 95,467 shares in the company, valued at approximately $3,957,107.15. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Scott J. Kinney purchased 1,257 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was acquired at an average cost of $40.08 per share, with a total value of $50,380.56. Following the purchase, the vice president now directly owns 1,257 shares of the company’s stock, valued at $50,380.56. The disclosure for this purchase can be found here. In the last quarter, insiders sold 49,806 shares of company stock valued at $2,062,843. Insiders own 1.00% of the company’s stock.
Avista Company Profile
Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in 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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