Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Avista Corporation $AVA

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Avista Corporation (NYSE:AVA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 45,970 shares of the utilities provider’s stock, valued at approximately $1,745,000. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Avista as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC bought a new position in Avista in the 2nd quarter worth approximately $34,000. Bessemer Group Inc. increased its stake in Avista by 54.8% during the second quarter. Bessemer Group Inc. now owns 884 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 313 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Avista during the first quarter valued at approximately $43,000. GAMMA Investing LLC increased its position in shares of Avista by 48.5% during the second quarter. GAMMA Investing LLC now owns 1,360 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 444 shares during the period. Finally, Costello Asset Management INC acquired a new position in shares of Avista in the first quarter valued at $102,000. Institutional investors own 85.24% of the company’s stock.

Avista Trading Down 0.6%

Shares of AVA stock opened at $41.08 on Monday. The company has a market capitalization of $3.34 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.14 and a beta of 0.39. Avista Corporation has a 12-month low of $34.80 and a 12-month 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 has a 50-day moving average price of $38.01 and a 200 day moving average price of $37.95.

Avista (NYSE:AVA) last posted its earnings results on Wednesday, November 5th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. Avista had a net margin of 9.13% and a return on equity of 6.86%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 earnings per share. Avista has set its FY 2025 guidance at 2.520-2.720 EPS. Research analysts forecast that Avista Corporation will post 2.3 earnings per share for the current fiscal year.

Avista Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, November 24th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, November 24th. Avista’s dividend payout ratio is presently 83.40%.

Analyst Ratings Changes

Several brokerages have issued reports on AVA. Wells Fargo & Company raised shares of Avista to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Avista in a research report on Wednesday, October 8th. Mizuho set a $42.00 price target on shares of Avista in a research report on Thursday, November 6th. Finally, Jefferies Financial Group lifted their price objective on Avista from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.33.

Insiders Place Their Bets

In other Avista news, SVP Bryan Alden Cox purchased 3,671 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was acquired at an average cost of $35.55 per share, with a total value of $130,504.05. Following the completion of the acquisition, the senior vice president directly owned 9,989 shares of the company’s stock, valued at $355,108.95. This represents a 58.10% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David J. Meyer sold 1,367 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was 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 approximately $308,227.68. This trade represents a 14.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.96% of the company’s stock.

About Avista

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.