Global X Management Co. LLC increased its position in shares of Avista Corporation (NYSE:AVA) by 5.5% during the second quarter, Holdings Channel reports. The fund owned 203,163 shares of the utilities provider’s stock after buying an additional 10,590 shares during the period. Global X Management Co. LLC’s holdings in Avista Corporation were worth $8,626,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Tyers Asset Management LLC boosted its stake in Avista Corporation by 11.5% in the first quarter. Tyers Asset Management LLC now owns 2,640 shares of the utilities provider’s stock worth $103,000 after buying an additional 272 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Avista Corporation by 73.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,901 shares of the utilities provider’s stock worth $113,000 after buying an additional 1,230 shares during the last quarter. Elkfork Partners LLC boosted its stake in Avista Corporation by 11.5% in the first quarter. Elkfork Partners LLC now owns 3,630 shares of the utilities provider’s stock worth $142,000 after buying an additional 374 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in Avista Corporation by 11.5% in the first quarter. Meadow Creek Investment Management LLC now owns 4,620 shares of the utilities provider’s stock worth $181,000 after buying an additional 476 shares during the last quarter. Finally, Ballentine Partners LLC bought a new stake in Avista Corporation during the first quarter worth about $210,000. Institutional investors own 69.11% of the company’s stock.

Shares of Avista Corporation (NYSE AVA) opened at 52.29 on Friday. The company has a market capitalization of $3.37 billion, a PE ratio of 24.72 and a beta of 0.42. Avista Corporation has a 52 week low of $37.78 and a 52 week high of $52.83. The company’s 50 day moving average is $46.99 and its 200-day moving average is $42.07.

Avista Corporation (NYSE:AVA) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.03. Avista Corporation had a net margin of 9.35% and a return on equity of 8.19%. The company had revenue of $314.50 million during the quarter, compared to the consensus estimate of $326.33 million. During the same quarter last year, the company earned $0.43 earnings per share. The business’s revenue was down 1.3% on a year-over-year basis. On average, analysts expect that Avista Corporation will post $1.94 EPS for the current fiscal year.

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A number of equities research analysts have issued reports on AVA shares. Zacks Investment Research upgraded Avista Corporation from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Friday, July 21st. BidaskClub upgraded Avista Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. BMO Capital Markets reiterated a “hold” rating and issued a $53.00 target price on shares of Avista Corporation in a research note on Friday, July 21st. Finally, Williams Capital cut Avista Corporation from a “hold” rating to a “sell” rating and raised their target price for the company from $38.00 to $42.00 in a research note on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Avista Corporation presently has a consensus rating of “Hold” and an average price target of $47.75.

About Avista Corporation

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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Institutional Ownership by Quarter for Avista Corporation (NYSE:AVA)

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