Algert Global LLC Purchases 60,309 Shares of Avista Corporation $AVA

Algert Global LLC raised its position in shares of Avista Corporation (NYSE:AVA) by 19.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 366,700 shares of the utilities provider’s stock after buying an additional 60,309 shares during the quarter. Algert Global LLC owned about 0.45% of Avista worth $13,865,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. First Trust Advisors LP grew its holdings in Avista by 359.4% in the third quarter. First Trust Advisors LP now owns 1,282,508 shares of the utilities provider’s stock worth $48,492,000 after purchasing an additional 1,003,362 shares during the period. Norges Bank bought a new stake in shares of Avista in the 2nd quarter worth approximately $29,674,000. Westwood Holdings Group Inc. grew its stake in shares of Avista by 52.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,110,711 shares of the utilities provider’s stock worth $80,101,000 after buying an additional 728,543 shares during the last quarter. State Street Corp raised its stake in Avista by 8.3% during the second quarter. State Street Corp now owns 5,191,896 shares of the utilities provider’s stock valued at $197,032,000 after buying an additional 398,446 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Avista by 216.5% in the third quarter. Sei Investments Co. now owns 477,238 shares of the utilities provider’s stock worth $18,044,000 after acquiring an additional 326,469 shares in the last quarter. Institutional investors own 85.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AVA shares. Barclays started coverage on Avista in a research note on Monday, March 9th. They issued an “equal weight” rating and a $40.00 target price on the stock. Jefferies Financial Group cut their price objective on shares of Avista from $41.00 to $39.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. Wells Fargo & Company reduced their price objective on shares of Avista from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 20th. Weiss Ratings cut shares of Avista from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Avista in a research note on Tuesday, January 27th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Avista has an average rating of “Hold” and a consensus price target of $39.50.

Avista Stock Performance

Shares of AVA opened at $39.85 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.83 and a quick ratio of 0.56. Avista Corporation has a one year low of $35.50 and a one year high of $43.50. The firm has a market capitalization of $3.28 billion, a P/E ratio of 16.74, a PEG ratio of 2.16 and a beta of 0.28. The business has a fifty day moving average of $40.65 and a 200 day moving average of $39.20.

Avista (NYSE:AVA) last posted its earnings results on Saturday, January 31st. The utilities provider reported $0.88 earnings per share for the quarter. Avista had a return on equity of 7.29% and a net margin of 9.83%. As a group, sell-side analysts anticipate that Avista Corporation will post 2.3 EPS for the current year.

Avista Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Wednesday, February 25th were issued a $0.4925 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This is a positive change from Avista’s previous quarterly dividend of $0.49. This represents a $1.97 dividend on an annualized basis and a dividend yield of 4.9%. Avista’s payout ratio is 82.77%.

Insider Activity at Avista

In related news, SVP Wayne O. Manuel sold 1,785 shares of the business’s 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 in the company, valued at approximately $382,867.42. The trade was a 15.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Bryan Alden Cox sold 1,768 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $40.18, for a total transaction of $71,038.24. Following the sale, the senior vice president directly owned 8,401 shares of the company’s stock, valued at approximately $337,552.18. This represents a 17.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,108 shares of company stock valued at $162,278 over the last 90 days. 0.94% of the stock is currently owned by company insiders.

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.