Burney Co. Buys New Position in Avista Corporation $AVA

Burney Co. bought a new stake in Avista Corporation (NYSE:AVA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 20,651 shares of the utilities provider’s stock, valued at approximately $796,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sound Income Strategies LLC acquired a new stake in Avista in the 4th quarter valued at about $7,381,000. Principal Financial Group Inc. lifted its holdings in Avista by 8.0% in the 3rd quarter. Principal Financial Group Inc. now owns 519,946 shares of the utilities provider’s stock valued at $19,659,000 after acquiring an additional 38,651 shares during the last quarter. Inspire Advisors LLC acquired a new stake in Avista in the 3rd quarter valued at about $1,118,000. Nuance Investments LLC lifted its holdings in Avista by 50.4% in the 3rd quarter. Nuance Investments LLC now owns 288,203 shares of the utilities provider’s stock valued at $10,897,000 after acquiring an additional 96,532 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in Avista by 146.6% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 76,039 shares of the utilities provider’s stock valued at $2,875,000 after acquiring an additional 45,200 shares during the last quarter. 85.24% of the stock is owned by institutional investors and hedge funds.

Avista Price Performance

AVA stock opened at $41.65 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.56 and a debt-to-equity ratio of 1.04. 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 $3.44 billion, a PE ratio of 17.50, a P/E/G ratio of 2.28 and a beta of 0.23. The firm has a 50-day moving average of $40.81 and a two-hundred day moving average of $39.81.

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

Avista Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Wednesday, February 25th were given a $0.4925 dividend. This represents a $1.97 dividend on an annualized basis and a dividend yield of 4.7%. This is a positive change from Avista’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Wednesday, February 25th. Avista’s payout ratio is currently 82.77%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AVA shares. Barclays started coverage on shares of Avista in a report on Monday, March 9th. They issued an “equal weight” rating and a $40.00 price target for the company. KeyCorp reissued a “sector weight” rating on shares of Avista in a report on Tuesday, January 27th. Zacks Research downgraded shares of Avista from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 31st. Wells Fargo & Company cut their price target on shares of Avista from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Finally, Wall Street Zen lowered shares of Avista from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Avista currently has an average rating of “Hold” and an average target price of $39.50.

Insider Activity

In other news, SVP Bryan Alden Cox sold 1,768 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $40.18, for a total value of $71,038.24. Following the completion of the sale, the senior vice president directly owned 8,401 shares of the company’s stock, valued at $337,552.18. This represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.78% of the stock is owned by company insiders.

About Avista

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.