Avista Corporation (AVA) Stake Lifted by Riverhead Capital Management LLC
Riverhead Capital Management LLC grew its position in shares of Avista Corporation (NYSE:AVA) by 38.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,498 shares of the utilities provider’s stock after purchasing an additional 698 shares during the period. Riverhead Capital Management LLC’s holdings in Avista Corporation were worth $106,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Avista Corporation by 73.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,901 shares of the utilities provider’s stock valued at $113,000 after purchasing an additional 1,230 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of Avista Corporation during the 1st quarter valued at $210,000. Everence Capital Management Inc. purchased a new position in shares of Avista Corporation during the 2nd quarter valued at $214,000. Teacher Retirement System of Texas purchased a new position in shares of Avista Corporation during the 2nd quarter valued at $218,000. Finally, Oxford Asset Management purchased a new position in shares of Avista Corporation during the 1st quarter valued at $233,000. Hedge funds and other institutional investors own 69.66% of the company’s stock.
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Avista Corporation (AVA) opened at 52.02 on Friday. The stock’s 50 day moving average is $51.63 and its 200-day moving average is $45.67. Avista Corporation has a 52-week low of $37.78 and a 52-week high of $52.83. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 24.20 and a beta of 0.45.
Avista Corporation (NYSE:AVA) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). The firm had revenue of $314.50 million during the quarter, compared to analysts’ expectations of $326.33 million. Avista Corporation had a return on equity of 8.19% and a net margin of 9.35%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. Equities research analysts anticipate that Avista Corporation will post $1.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a dividend of $0.3575 per share. The ex-dividend date was Tuesday, August 29th. This represents a $1.43 annualized dividend and a yield of 2.75%. Avista Corporation’s payout ratio is 67.77%.
A number of research firms have recently commented on AVA. Zacks Investment Research upgraded shares of Avista Corporation from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Friday, July 21st. BMO Capital Markets restated a “hold” rating and set a $53.00 price target on shares of Avista Corporation in a research report on Friday, July 21st. BidaskClub upgraded shares of Avista Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Finally, Williams Capital lowered shares of Avista Corporation from a “hold” rating to a “sell” rating and boosted their price target for the company from $38.00 to $42.00 in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Avista Corporation has a consensus rating of “Hold” and an average target price of $47.75.
Avista Corporation Company Profile
Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.
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