First Trust Advisors LP Grows Position in Avista Corporation $AVA

First Trust Advisors LP boosted its stake in shares of Avista Corporation (NYSE:AVA) by 359.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,282,508 shares of the utilities provider’s stock after buying an additional 1,003,362 shares during the period. First Trust Advisors LP’s holdings in Avista were worth $48,492,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Gabelli Funds LLC grew its position in shares of Avista by 1.2% during the third quarter. Gabelli Funds LLC now owns 420,500 shares of the utilities provider’s stock valued at $15,899,000 after purchasing an additional 5,000 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Avista by 28.2% in the third quarter. Gamco Investors INC. ET AL now owns 412,244 shares of the utilities provider’s stock worth $15,587,000 after buying an additional 90,790 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Avista by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,506,699 shares of the utilities provider’s stock valued at $56,967,000 after buying an additional 6,567 shares during the last quarter. Picton Mahoney Asset Management boosted its stake in Avista by 83,736.7% during the third quarter. Picton Mahoney Asset Management now owns 25,151 shares of the utilities provider’s stock valued at $950,000 after buying an additional 25,121 shares during the last quarter. Finally, Level Four Advisory Services LLC grew its holdings in Avista by 2.7% during the 3rd quarter. Level Four Advisory Services LLC now owns 48,227 shares of the utilities provider’s stock valued at $1,823,000 after buying an additional 1,282 shares in the last quarter. 85.24% of the stock is currently owned by institutional investors.

Avista Stock Down 0.8%

NYSE:AVA opened at $38.93 on Thursday. Avista Corporation has a twelve month low of $35.50 and a twelve month high of $43.50. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.12 and a beta of 0.28. The stock has a fifty day simple moving average of $40.61 and a 200-day simple moving average of $39.14. 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 (NYSE:AVA) last posted its quarterly earnings results 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%. Analysts anticipate that Avista Corporation will post 2.3 EPS for the current year.

Avista Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Wednesday, February 25th will be paid a $0.4925 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $1.97 dividend on an annualized basis and a yield of 5.1%. This is an increase from Avista’s previous quarterly dividend of $0.49. Avista’s payout ratio is currently 82.77%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays began coverage on Avista in a research note on Monday. They issued an “equal weight” rating and a $40.00 price objective on the stock. KeyCorp reissued a “sector weight” rating on shares of Avista in a report on Tuesday, January 27th. Jefferies Financial Group reduced their price target 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 decreased 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 note on Tuesday, January 20th. Finally, Weiss Ratings upgraded shares of Avista from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 24th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $39.50.

Insider Transactions at Avista

In other news, SVP Bryan Alden Cox sold 1,768 shares of the firm’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 transaction, the senior vice president directly owned 8,401 shares of the company’s stock, valued at approximately $337,552.18. This trade represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Wayne O. Manuel sold 1,785 shares of Avista 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 sale, the senior vice president directly owned 9,883 shares of the company’s stock, valued at $382,867.42. This represents a 15.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.96% of the stock is owned by corporate 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.