Bank of Nova Scotia Acquires New Position in Avista Co. (NYSE:AVA)

Bank of Nova Scotia bought a new position in Avista Co. (NYSE:AVAGet Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,849 shares of the utilities provider’s stock, valued at approximately $690,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Wealth Alliance LLC bought a new position in Avista in the 2nd quarter worth about $39,000. Lazard Asset Management LLC grew its position in Avista by 178.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,540 shares of the utilities provider’s stock worth $69,000 after purchasing an additional 986 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Avista in the 1st quarter worth about $84,000. Northwestern Mutual Wealth Management Co. grew its position in Avista by 1,438.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,154 shares of the utilities provider’s stock worth $97,000 after purchasing an additional 2,014 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Avista by 913.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,259 shares of the utilities provider’s stock worth $98,000 after purchasing an additional 2,036 shares during the last quarter. Institutional investors own 83.39% of the company’s stock.

Avista Stock Up 2.5 %

AVA stock opened at $38.93 on Friday. Avista Co. has a 12 month low of $35.72 and a 12 month high of $46.90. The firm has a market cap of $2.87 billion, a PE ratio of 21.87, a P/E/G ratio of 3.85 and a beta of 0.58. The firm has a 50 day simple moving average of $38.81 and a 200 day simple moving average of $41.15. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.68 and a quick ratio of 0.50.

Avista (NYSE:AVAGet Rating) last released its earnings results on Tuesday, November 1st. The utilities provider reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.24 by ($0.32). Avista had a net margin of 7.91% and a return on equity of 5.78%. During the same quarter last year, the business earned $0.20 EPS. Equities research analysts forecast that Avista Co. will post 1.9 earnings per share for the current fiscal year.

Avista Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 18th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.52%. The ex-dividend date is Thursday, November 17th. Avista’s dividend payout ratio is presently 98.88%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AVA. StockNews.com upgraded shares of Avista from a “sell” rating to a “hold” rating in a research report on Saturday, November 5th. Guggenheim decreased their price objective on shares of Avista from $34.00 to $33.00 in a report on Monday, October 24th. Mizuho cut shares of Avista from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $44.00 to $40.00 in a report on Wednesday, November 2nd. Finally, KeyCorp cut shares of Avista from a “sector weight” rating to an “underweight” rating and set a $33.00 price objective for the company. in a report on Tuesday, November 1st.

Avista Company Profile

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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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Institutional Ownership by Quarter for Avista (NYSE:AVA)

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