Bank of New York Mellon Corp cut its stake in shares of Avista Corp (NYSE:AVA) by 19.6% in the 4th quarter, Holdings Channel reports. The firm owned 947,872 shares of the utilities provider’s stock after selling 231,594 shares during the quarter. Bank of New York Mellon Corp’s holdings in Avista were worth $48,806,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Magnetar Financial LLC acquired a new position in Avista during the third quarter valued at approximately $142,309,000. JPMorgan Chase & Co. boosted its position in Avista by 136.9% during the third quarter. JPMorgan Chase & Co. now owns 1,605,798 shares of the utilities provider’s stock valued at $82,891,000 after purchasing an additional 928,010 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Avista by 157.3% during the third quarter. Allianz Asset Management GmbH now owns 613,299 shares of the utilities provider’s stock valued at $31,751,000 after purchasing an additional 374,970 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Avista during the fourth quarter valued at approximately $28,236,000. Finally, State of Wisconsin Investment Board boosted its position in Avista by 86.3% during the fourth quarter. State of Wisconsin Investment Board now owns 530,300 shares of the utilities provider’s stock valued at $27,305,000 after purchasing an additional 245,700 shares during the last quarter. 79.76% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Jason R. Thackston sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $51.58, for a total value of $77,370.00. Following the completion of the sale, the insider now directly owns 22,974 shares of the company’s stock, valued at $1,184,998.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.
Avista Corp (NYSE AVA) opened at $48.08 on Friday. Avista Corp has a 52-week low of $38.35 and a 52-week high of $52.83. The company has a current ratio of 0.48, a quick ratio of 0.40 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $3,170.00, a P/E ratio of 26.86 and a beta of 0.37.
Avista (NYSE:AVA) last released its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.06. Avista had a return on equity of 7.72% and a net margin of 8.02%. The company had revenue of $397.90 million during the quarter, compared to analysts’ expectations of $380.39 million. During the same period last year, the firm posted $0.62 earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. equities analysts predict that Avista Corp will post 2.05 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Friday, February 23rd will be given a $0.3725 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 3.10%. This is a boost from Avista’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, February 22nd. Avista’s dividend payout ratio (DPR) is presently 83.24%.
Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.
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