Avista Corporation $AVA Shares Bought by Citigroup Inc.

Citigroup Inc. grew its holdings in shares of Avista Corporation (NYSE:AVA) by 30.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 110,693 shares of the utilities provider’s stock after purchasing an additional 25,972 shares during the quarter. Citigroup Inc. owned approximately 0.14% of Avista worth $4,185,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Avista by 5.3% in the first quarter. Royal Bank of Canada now owns 65,494 shares of the utilities provider’s stock worth $2,741,000 after acquiring an additional 3,296 shares during the last quarter. AQR Capital Management LLC increased its holdings in Avista by 11.1% during the 1st quarter. AQR Capital Management LLC now owns 69,831 shares of the utilities provider’s stock worth $2,924,000 after purchasing an additional 6,967 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Avista in the 1st quarter valued at approximately $201,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Avista by 26.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 283,182 shares of the utilities provider’s stock worth $11,857,000 after buying an additional 58,504 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Avista during the first quarter worth approximately $134,000. 85.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Wayne O. Manuel sold 1,785 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $38.74, for a total transaction of $69,150.90. Following the completion of the transaction, the senior vice president owned 9,883 shares of the company’s stock, valued at $382,867.42. This trade represents a 15.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Bryan Alden Cox sold 1,768 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $40.18, for a total transaction of $71,038.24. Following the completion of the sale, the senior vice president owned 8,401 shares in the company, valued at approximately $337,552.18. This trade represents a 17.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. KeyCorp reiterated a “sector weight” rating on shares of Avista in a research note on Tuesday, January 27th. Jefferies Financial Group cut their target price on shares of Avista from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Mizuho set a $42.00 price target on Avista in a research note on Thursday, November 6th. Wells Fargo & Company cut their price objective on Avista from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. Finally, Weiss Ratings upgraded Avista from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Avista has a consensus rating of “Hold” and an average target price of $39.33.

Avista Stock Performance

AVA stock opened at $40.37 on Thursday. Avista Corporation has a 1 year low of $35.50 and a 1 year high of $43.50. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 2.17 and a beta of 0.28. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.56 and a current ratio of 0.83. The stock’s fifty day moving average is $40.52 and its two-hundred day moving average is $39.06.

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

Avista Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Wednesday, February 25th will be given a $0.4925 dividend. This represents a $1.97 dividend on an annualized basis and a yield of 4.9%. This is a positive change from Avista’s previous quarterly dividend of $0.49. The ex-dividend date is Wednesday, February 25th. Avista’s payout ratio is currently 82.77%.

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.