D.A. Davidson & CO. Has $259,000 Stake in Avista Corporation $AVA

D.A. Davidson & CO. raised its position in Avista Corporation (NYSE:AVA) by 8.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 6,820 shares of the utilities provider’s stock after purchasing an additional 558 shares during the period. D.A. Davidson & CO.’s holdings in Avista were worth $259,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Avista by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 10,360,222 shares of the utilities provider’s stock worth $433,782,000 after purchasing an additional 99,365 shares during the period. Westwood Holdings Group Inc. increased its stake in shares of Avista by 8.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,382,168 shares of the utilities provider’s stock valued at $57,871,000 after acquiring an additional 103,844 shares in the last quarter. Millennium Management LLC increased its stake in Avista by 531.2% during the 1st quarter. Millennium Management LLC now owns 1,370,502 shares of the utilities provider’s stock valued at $57,383,000 after purchasing an additional 1,153,389 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Avista by 1.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,266,825 shares of the utilities provider’s stock valued at $53,042,000 after purchasing an additional 13,545 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Avista by 8,255.8% during the 1st quarter. Jane Street Group LLC now owns 504,354 shares of the utilities provider’s stock valued at $21,117,000 after purchasing an additional 498,318 shares in the last quarter. Institutional investors and hedge funds own 85.24% of the company’s stock.

Insider Activity at Avista

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

Avista Price Performance

NYSE AVA opened at $38.20 on Friday. The company has a market cap of $3.10 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 2.14 and a beta of 0.39. Avista Corporation has a 52 week low of $34.80 and a 52 week high of $43.09. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 1.06. The firm’s 50-day simple moving average is $37.22 and its two-hundred day simple moving average is $38.09.

Avista (NYSE:AVA) last released its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.11). Avista had a net margin of 9.13% and a return on equity of 6.86%. The business had revenue of $400.00 million for the quarter, compared to analysts’ expectations of $416.06 million. During the same period last year, the company earned $0.29 earnings per share. Research analysts predict that Avista Corporation will post 2.3 earnings per share for the current year.

Avista Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, August 19th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Tuesday, August 19th. Avista’s dividend payout ratio is presently 88.29%.

Wall Street Analysts Forecast Growth

AVA has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price target on shares of Avista from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company raised shares of Avista to a “hold” rating in a report on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Avista in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Avista currently has an average rating of “Hold” and an average target price of $39.50.

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.