Avista Corp (AVA) Stake Raised by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can lifted its position in shares of Avista Corp (NYSE:AVA) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,290 shares of the utilities provider’s stock after acquiring an additional 1,199 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Avista were worth $3,625,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of AVA. Deprince Race & Zollo Inc. acquired a new stake in Avista in the 1st quarter valued at about $27,001,000. Everence Capital Management Inc. raised its holdings in Avista by 78.1% in the 1st quarter. Everence Capital Management Inc. now owns 12,930 shares of the utilities provider’s stock valued at $525,000 after acquiring an additional 5,670 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in Avista by 339.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 21,112 shares of the utilities provider’s stock valued at $897,000 after acquiring an additional 16,313 shares during the last quarter. Laurion Capital Management LP raised its holdings in Avista by 418.4% in the 1st quarter. Laurion Capital Management LP now owns 42,931 shares of the utilities provider’s stock valued at $1,744,000 after acquiring an additional 34,650 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new stake in Avista in the 4th quarter valued at about $1,061,000. 78.62% of the stock is currently owned by institutional investors and hedge funds.
NYSE:AVA opened at $42.63 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.64 and a quick ratio of 0.54. The company has a market cap of $2.75 billion, a P/E ratio of 20.20, a P/E/G ratio of 6.63 and a beta of 0.41. Avista Corp has a fifty-two week low of $39.75 and a fifty-two week high of $52.91.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 23rd will be given a dividend of $0.3875 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.64%. Avista’s payout ratio is currently 73.46%.
In other Avista news, VP Kevin J. Christie sold 780 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $41.78, for a total value of $32,588.40. Following the completion of the transaction, the vice president now owns 9,229 shares of the company’s stock, valued at approximately $385,587.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jason R. Thackston sold 2,875 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $40.04, for a total transaction of $115,115.00. Following the completion of the transaction, the senior vice president now directly owns 27,327 shares of the company’s stock, valued at approximately $1,094,173.08. The disclosure for this sale can be found here. Insiders sold a total of 7,405 shares of company stock valued at $307,793 in the last three months. 1.10% of the stock is currently owned by corporate insiders.
A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Avista from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Guggenheim reaffirmed a “hold” rating and set a $38.00 price objective on shares of Avista in a research report on Friday, February 8th. Finally, Bank of America assumed coverage on shares of Avista in a research report on Thursday, May 9th. They set an “underperform” rating and a $43.00 price objective for the company. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $40.67.
Avista Company Profile
Avista Corporation operates as an electric and natural gas utility company. It operates through 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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