Avista Corporation (NYSE:AVA) Short Interest Update

Key Points

• Avista Corporation experienced a significant 30.8% decrease in short interest, dropping from 3,770,000 shares on July 31st to 2,610,000 shares by August 15th.
• The company reported earnings per share of $0.17 for the last quarter, which fell short of analysts' expectations of $0.28, along with a revenue of $400 million compared to an anticipated $416 million.
• Avista is set to pay a quarterly dividend of $0.49 per share on September 15th, resulting in an annualized yield of 5.3% and a payout ratio of 88.29%.

Avista Corporation (NYSE:AVA - Get Free Report) was the target of a large decline in short interest in August. As of August 15th, there was short interest totaling 2,610,000 shares, a decline of 30.8% from the July 31st total of 3,770,000 shares. Based on an average daily trading volume, of 690,400 shares, the short-interest ratio is presently 3.8 days. Based on an average daily trading volume, of 690,400 shares, the short-interest ratio is presently 3.8 days.

Insider Buying and Selling

In related news, VP David J. Meyer sold 1,367 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $36.72, for a total value of $50,196.24. Following the completion of the sale, the vice president directly owned 8,394 shares of the company's stock, valued at $308,227.68. The trade was a 14.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Avista

A number of hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its stake in Avista by 2.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 14,042 shares of the utilities provider's stock valued at $533,000 after purchasing an additional 269 shares during the last quarter. Convergence Investment Partners LLC boosted its stake in Avista by 0.6% during the 2nd quarter. Convergence Investment Partners LLC now owns 49,613 shares of the utilities provider's stock valued at $1,883,000 after purchasing an additional 286 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in Avista by 3.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,226 shares of the utilities provider's stock valued at $312,000 after purchasing an additional 295 shares during the last quarter. Xponance Inc. boosted its stake in Avista by 5.5% during the 1st quarter. Xponance Inc. now owns 5,934 shares of the utilities provider's stock valued at $248,000 after purchasing an additional 307 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its stake in Avista by 3.2% during the 1st quarter. Moors & Cabot Inc. now owns 10,131 shares of the utilities provider's stock valued at $424,000 after purchasing an additional 313 shares during the last quarter. Institutional investors and hedge funds own 85.24% of the company's stock.

Avista Stock Down 0.1%

Avista stock traded down $0.02 during midday trading on Friday, reaching $36.42. The stock had a trading volume of 99,788 shares, compared to its average volume of 721,980. Avista has a 12 month low of $34.80 and a 12 month high of $43.09. The company has a market capitalization of $2.95 billion, a P/E ratio of 16.40, a PEG ratio of 2.39 and a beta of 0.41. The company has a fifty day moving average price of $37.24 and a two-hundred day moving average price of $38.71. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06.

Avista (NYSE:AVA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.11). Avista had a net margin of 9.13% and a return on equity of 6.86%. The firm had revenue of $400.00 million during the quarter, compared to the consensus estimate of $416.06 million. During the same period in the previous year, the firm earned $0.29 earnings per share. As a group, equities analysts expect that Avista will post 2.3 EPS for the current fiscal year.

Avista Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, August 19th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Avista's payout ratio is presently 88.29%.

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.