Algert Global LLC Grows Position in Avista Corporation $AVA

Algert Global LLC grew its holdings in shares of Avista Corporation (NYSE:AVA - Free Report) by 15.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 739,725 shares of the utilities provider's stock after acquiring an additional 100,918 shares during the quarter. Avista comprises 0.4% of Algert Global LLC's investment portfolio, making the stock its 22nd largest position. Algert Global LLC owned about 0.88% of Avista worth $30,262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. lifted its position in Avista by 90.7% during the fourth quarter. UMB Bank n.a. now owns 637 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 303 shares during the last quarter. Bayban bought a new position in shares of Avista in the 4th quarter worth $35,000. Headlands Technologies LLC bought a new position in shares of Avista in the 2nd quarter worth $37,000. Global Retirement Partners LLC purchased a new stake in shares of Avista during the 2nd quarter valued at $42,000. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Avista during the 3rd quarter valued at $43,000. Hedge funds and other institutional investors own 85.24% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Mizuho upped their target price on shares of Avista from $41.00 to $42.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded Avista from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. Zacks Research raised Avista from a "strong sell" rating to a "hold" rating in a report on Friday, May 22nd. Finally, Barclays cut their target price on Avista from $40.00 to $37.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $39.25.

Avista Stock Up 1.0%

Shares of Avista stock opened at $37.95 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.69 and a current ratio of 1.10. Avista Corporation has a 52-week low of $35.50 and a 52-week high of $43.50. The company's 50 day moving average price is $40.36 and its 200-day moving average price is $40.78. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 3.52 and a beta of 0.25.

Avista (NYSE:AVA - Get Free Report) last posted its earnings results on Friday, July 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.20. The firm had revenue of $413.00 million for the quarter, compared to analysts' expectations of $426.93 million. Avista had a return on equity of 7.85% and a net margin of 11.83%.The business's revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 earnings per share. Equities research analysts forecast that Avista Corporation will post 2.58 EPS for the current year.

Avista Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Tuesday, August 18th will be issued a $0.4925 dividend. This represents a $1.97 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Tuesday, August 18th. Avista's payout ratio is presently 71.12%.

Avista 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.

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