Challenger Wealth Management Makes New Investment in Avista Co. (NYSE:AVA)

Challenger Wealth Management acquired a new position in Avista Co. (NYSE:AVA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,500 shares of the utilities provider's stock, valued at approximately $238,000.

Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC grew its position in Avista by 2,474.1% in the 4th quarter. Headlands Technologies LLC now owns 695 shares of the utilities provider's stock worth $25,000 after purchasing an additional 668 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Avista by 117.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 858 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 464 shares during the period. Allworth Financial LP grew its position in shares of Avista by 296.7% during the 4th quarter. Allworth Financial LP now owns 956 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 715 shares during the period. SRS Capital Advisors Inc. grew its position in shares of Avista by 45.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,462 shares of the utilities provider's stock valued at $54,000 after acquiring an additional 456 shares during the period. Finally, Newbridge Financial Services Group Inc. grew its position in shares of Avista by 183.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,856 shares of the utilities provider's stock valued at $68,000 after acquiring an additional 1,202 shares during the period. 85.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reduced their target price on shares of Avista from $40.00 to $39.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th.

Insider Buying and Selling

In related news, VP Scott J. Kinney sold 2,298 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $38.75, for a total value of $89,047.50. Following the completion of the transaction, the vice president now directly owns 12,539 shares of the company's stock, valued at approximately $485,886.25. This trade represents a 15.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.96% of the stock is owned by insiders.

Avista Stock Performance

Shares of Avista stock traded down $0.72 on Wednesday, reaching $38.10. 499,895 shares of the company traded hands, compared to its average volume of 605,520. Avista Co. has a 52 week low of $33.45 and a 52 week high of $43.09. The company has a 50 day moving average of $40.35 and a 200 day moving average of $38.52. The firm has a market capitalization of $3.07 billion, a PE ratio of 15.18, a PEG ratio of 2.56 and a beta of 0.42. 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 (NYSE:AVA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07). The business had revenue of $603.00 million during the quarter, compared to the consensus estimate of $636.30 million. Avista had a return on equity of 7.83% and a net margin of 10.24%. The firm's quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the business posted $0.91 earnings per share. Equities analysts forecast that Avista Co. will post 2.3 earnings per share for the current year.

Avista Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Tuesday, May 13th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 5.14%. The ex-dividend date is Tuesday, May 13th. Avista's dividend payout ratio (DPR) is presently 83.76%.

Avista 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.