Algert Global LLC Acquires 38,550 Shares of Avista Co. (NYSE:AVA)

Algert Global LLC increased its holdings in shares of Avista Co. (NYSE:AVA) by 202.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,617 shares of the utilities provider’s stock after purchasing an additional 38,550 shares during the period. Algert Global LLC owned 0.07% of Avista worth $2,233,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Foundry Partners LLC bought a new stake in Avista during the 3rd quarter valued at $10,076,000. Jupiter Asset Management Ltd. purchased a new position in Avista in the second quarter valued at about $7,130,000. Peregrine Capital Management LLC purchased a new position in Avista in the second quarter valued at about $6,506,000. Point72 Asset Management L.P. bought a new position in Avista in the second quarter worth about $5,638,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Avista during the third quarter valued at about $5,838,000. 85.24% of the stock is owned by hedge funds and other institutional investors.

Avista Trading Down 0.6 %

Shares of NYSE:AVA opened at $38.53 on Wednesday. The business’s 50-day moving average is $37.99 and its 200 day moving average is $37.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.75 and a quick ratio of 0.48. Avista Co. has a 1 year low of $31.91 and a 1 year high of $39.99. The firm has a market capitalization of $3.05 billion, a P/E ratio of 15.35, a P/E/G ratio of 4.28 and a beta of 0.47.

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

Avista Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Bank of America began coverage on shares of Avista in a research report on Thursday, September 12th. They issued an “underperform” rating and a $37.00 price objective on the stock.

About Avista

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.