State of Alaska Department of Revenue Purchases 4,082 Shares of Avista Corporation $AVA

State of Alaska Department of Revenue raised its position in shares of Avista Corporation (NYSE:AVA) by 9.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,957 shares of the utilities provider’s stock after purchasing an additional 4,082 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Avista worth $1,819,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its stake in Avista by 252.3% during the 1st quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 656 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Avista during the 1st quarter valued at about $43,000. Costello Asset Management INC purchased a new stake in shares of Avista during the 1st quarter valued at about $102,000. Strs Ohio purchased a new stake in shares of Avista during the 1st quarter valued at about $134,000. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of Avista during the 2nd quarter valued at about $144,000. 85.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Bryan Alden Cox bought 3,671 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were bought at an average price of $35.55 per share, for a total transaction of $130,504.05. Following the purchase, the senior vice president owned 9,989 shares in the company, valued at approximately $355,108.95. The trade was a 58.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David J. Meyer sold 1,367 shares of the firm’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $36.72, for a total transaction of $50,196.24. Following the sale, the vice president owned 8,394 shares in the company, valued at approximately $308,227.68. The trade was a 14.00% decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by company insiders.

Avista Price Performance

NYSE AVA opened at $37.01 on Friday. Avista Corporation has a 12 month low of $34.80 and a 12 month high of $43.09. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 2.43 and a beta of 0.39. The company’s 50 day moving average is $36.92 and its two-hundred day moving average is $38.40. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06.

Avista (NYSE:AVA) last released its earnings results on Wednesday, August 6th. The utilities provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.11). Avista had a return on equity of 6.86% and a net margin of 9.13%.The firm had revenue of $400.00 million for the quarter, compared to the consensus estimate of $416.06 million. During the same quarter in the previous year, the business posted $0.29 EPS. As a group, research analysts anticipate that Avista Corporation will post 2.3 earnings per share for the current year.

Avista Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, August 19th were paid a dividend of $0.49 per share. The ex-dividend date was Tuesday, August 19th. This represents a $1.96 dividend on an annualized basis and a yield of 5.3%. Avista’s dividend payout ratio (DPR) is presently 88.29%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Avista in a report on Saturday, September 27th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $39.00.

Avista Company 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.