Envestnet Asset Management Inc. Raises Stock Position in Avista Corporation $AVA

Envestnet Asset Management Inc. grew its position in shares of Avista Corporation (NYSE:AVA) by 5.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 363,067 shares of the utilities provider’s stock after purchasing an additional 17,288 shares during the period. Envestnet Asset Management Inc. owned approximately 0.45% of Avista worth $13,728,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Salomon & Ludwin LLC bought a new position in shares of Avista during the 3rd quarter valued at $26,000. Bessemer Group Inc. grew its stake in shares of 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 buying an additional 313 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Avista in the second quarter worth about $37,000. Allworth Financial LP boosted its stake in shares of Avista by 51.7% during the second quarter. Allworth Financial LP now owns 1,585 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 540 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Avista by 30.1% in the third quarter. GAMMA Investing LLC now owns 1,769 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 409 shares during the last quarter. 85.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Avista

In other Avista news, SVP Wayne O. Manuel sold 1,785 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $38.74, for a total transaction of $69,150.90. Following the completion of the sale, the senior vice president directly owned 9,883 shares of the company’s stock, valued at $382,867.42. This trade represents a 15.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.94% of the stock is owned by insiders.

Avista Stock Performance

Shares of AVA opened at $43.06 on Tuesday. The firm has a market capitalization of $3.50 billion, a P/E ratio of 18.32, a PEG ratio of 2.21 and a beta of 0.28. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.91 and a quick ratio of 0.60. Avista Corporation has a one year low of $35.50 and a one year high of $43.21. The business has a fifty day moving average of $39.83 and a 200 day moving average of $38.75.

Avista Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Wednesday, February 25th will be paid a $0.4925 dividend. This represents a $1.97 dividend on an annualized basis and a dividend yield of 4.6%. This is a boost from Avista’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Wednesday, February 25th. Avista’s dividend payout ratio is currently 83.40%.

Analyst Upgrades and Downgrades

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

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.