Alps Advisors Inc. Acquires 12,496 Shares of Avista Corporation $AVA

Alps Advisors Inc. raised its holdings in shares of Avista Corporation (NYSE:AVA) by 57.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,265 shares of the utilities provider’s stock after purchasing an additional 12,496 shares during the quarter. Alps Advisors Inc.’s holdings in Avista were worth $1,296,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of Avista by 8.3% in the 2nd quarter. State Street Corp now owns 5,191,896 shares of the utilities provider’s stock worth $197,032,000 after acquiring an additional 398,446 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in Avista by 52.7% in the second quarter. Westwood Holdings Group Inc. now owns 2,110,711 shares of the utilities provider’s stock worth $80,101,000 after purchasing an additional 728,543 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Avista by 2.4% during the second quarter. Geode Capital Management LLC now owns 1,958,034 shares of the utilities provider’s stock valued at $74,316,000 after buying an additional 46,321 shares during the period. Bank of New York Mellon Corp increased its stake in Avista by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 1,184,223 shares of the utilities provider’s stock worth $44,941,000 after purchasing an additional 18,216 shares during the period. Finally, Norges Bank bought a new stake in shares of Avista during the second quarter worth $29,674,000. Institutional investors own 85.24% of the company’s stock.

Avista Stock Performance

Shares of AVA opened at $41.69 on Thursday. Avista Corporation has a one year low of $35.50 and a one year high of $43.09. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.60 and a current ratio of 0.91. The stock has a market cap of $3.39 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.13 and a beta of 0.28. The stock has a 50-day moving average of $39.57 and a two-hundred day moving average of $38.61.

Avista Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Wednesday, February 25th will be given a dividend of $0.4925 per share. This is an increase from Avista’s previous quarterly dividend of $0.49. This represents a $1.97 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Wednesday, February 25th. Avista’s dividend payout ratio (DPR) is currently 83.40%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wells Fargo & Company cut their price target on shares of Avista from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Mizuho set a $42.00 price objective on Avista in a research report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Avista in a report on Monday, December 29th. KeyCorp reissued a “sector weight” rating on shares of Avista in a research report on Tuesday, January 27th. Finally, Jefferies Financial Group lowered their target price on shares of Avista from $41.00 to $39.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $39.33.

Insider Buying and Selling

In other news, SVP Wayne O. Manuel sold 1,785 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $38.74, for a total value of $69,150.90. Following the completion of the sale, the senior vice president directly owned 9,883 shares in the company, valued at $382,867.42. The trade was a 15.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.96% of the company’s stock.

Avista Company Profile

Avista Corporation operates as an integrated energy company providing electric and natural gas delivery services to residential, commercial and industrial customers in the Pacific Northwest. Through its regulated utility operations, the company maintains and upgrades an extensive transmission and distribution network, delivering reliable energy to approximately 400,000 electric customers and 324,000 natural gas customers across Washington, Oregon and Idaho. In addition to its core utility business, Avista invests in owned generation assets, including hydroelectric, natural gas–fired, coal and wind facilities, to support system reliability and long-term supply planning.

Founded in 1889 as the Spokane and Inland Empire Water Power Company, the business adopted the Avista name in 1999 to reflect its growing energy portfolio and strategic focus on innovation.