Citigroup Inc. lessened its holdings in shares of Avista Co. (NYSE:AVA – Free Report) by 80.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,646 shares of the utilities provider’s stock after selling 343,056 shares during the period. Citigroup Inc. owned 0.11% of Avista worth $3,593,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bennicas & Associates Inc. acquired a new stake in shares of Avista during the 4th quarter worth about $208,000. Naples Global Advisors LLC grew its stake in Avista by 1.9% during the 1st quarter. Naples Global Advisors LLC now owns 29,708 shares of the utilities provider’s stock worth $1,261,000 after buying an additional 550 shares during the last quarter. Brandywine Global Investment Management LLC grew its stake in Avista by 0.4% during the 4th quarter. Brandywine Global Investment Management LLC now owns 134,113 shares of the utilities provider’s stock worth $5,947,000 after buying an additional 487 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in Avista by 9.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 38,427 shares of the utilities provider’s stock worth $1,704,000 after buying an additional 3,326 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Avista by 10.9% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 22,422 shares of the utilities provider’s stock worth $994,000 after buying an additional 2,210 shares during the last quarter. Institutional investors and hedge funds own 78.53% of the company’s stock.
Insider Buying and Selling
In other news, Chairman Scott L. Morris acquired 3,100 shares of Avista stock in a transaction that occurred on Thursday, August 24th. The stock was purchased at an average cost of $32.39 per share, with a total value of $100,409.00. Following the completion of the acquisition, the chairman now owns 128,169 shares in the company, valued at approximately $4,151,393.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP James M. Kensok sold 800 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $40.63, for a total value of $32,504.00. Following the completion of the transaction, the vice president now directly owns 16,079 shares of the company’s stock, valued at $653,289.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Scott L. Morris purchased 3,100 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was bought at an average cost of $32.39 per share, with a total value of $100,409.00. Following the completion of the acquisition, the chairman now owns 128,169 shares of the company’s stock, valued at $4,151,393.91. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Read Our Latest Stock Report on AVA
Avista Stock Up 0.2 %
Avista stock opened at $33.36 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.97 and a quick ratio of 0.76. Avista Co. has a 1-year low of $32.27 and a 1-year high of $45.28. The company has a market cap of $2.55 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 2.28 and a beta of 0.51. The stock’s 50 day moving average price is $36.93 and its 200 day moving average price is $40.31.
Avista (NYSE:AVA – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. Avista had a return on equity of 6.18% and a net margin of 8.38%. The firm had revenue of $379.94 million for the quarter, compared to the consensus estimate of $398.20 million. During the same period in the previous year, the business earned $0.16 earnings per share. On average, sell-side analysts predict that Avista Co. will post 2.3 EPS for the current fiscal year.
Avista Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be issued a dividend of $0.46 per share. The ex-dividend date is Thursday, August 17th. This represents a $1.84 annualized dividend and a yield of 5.52%. Avista’s dividend payout ratio is presently 95.34%.
Avista 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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