Algert Global LLC Raises Stake in Avista Co. (NYSE:AVA)

Algert Global LLC boosted its holdings in shares of Avista Co. (NYSE:AVA) by 202.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,617 shares of the utilities provider’s stock after buying an additional 38,550 shares during the quarter. Algert Global LLC’s holdings in Avista were worth $2,233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Avista during the third quarter worth $28,000. Capital Performance Advisors LLP purchased a new position in shares of Avista during the 3rd quarter valued at about $29,000. Quest Partners LLC acquired a new position in shares of Avista in the 2nd quarter valued at about $40,000. KBC Group NV boosted its stake in shares of Avista by 46.9% in the third quarter. KBC Group NV now owns 2,098 shares of the utilities provider’s stock worth $81,000 after buying an additional 670 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Avista by 256.6% in the second quarter. Headlands Technologies LLC now owns 2,714 shares of the utilities provider’s stock worth $94,000 after buying an additional 1,953 shares during the last quarter. 85.24% of the stock is currently owned by institutional investors and hedge funds.

Avista Trading Down 0.6 %

AVA stock opened at $38.53 on Wednesday. Avista Co. has a 52-week low of $31.91 and a 52-week high of $39.99. The company has a quick ratio of 0.48, a current ratio of 0.75 and a debt-to-equity ratio of 1.05. The firm has a market cap of $3.05 billion, a P/E ratio of 15.35, a PEG ratio of 4.28 and a beta of 0.47. The company’s 50-day simple moving average is $37.99 and its 200-day simple moving average is $37.33.

Avista (NYSE:AVA) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.13 by $0.10. Avista had a return on equity of 7.83% and a net margin of 10.24%. The company had revenue of $383.70 million for the quarter, compared to analyst estimates of $389.29 million. During the same period last year, the company earned $0.19 earnings per share. Avista’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts forecast that Avista Co. will post 2.36 EPS for the current fiscal year.

Avista Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Tuesday, November 26th. Avista’s payout ratio is 75.70%.

Wall Street Analyst Weigh In

Separately, Bank of America assumed coverage on Avista in a report on Thursday, September 12th. They issued an “underperform” rating and a $37.00 price target for the company.

Avista Company Profile

Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.