Assenagon Asset Management S.A. Makes New $1.63 Million Investment in Avista Corporation $AVA

Key Points

• Assenagon Asset Management initiated a $1.63 million position in Avista during the second quarter by purchasing 39,860 shares. Institutional investors collectively own 85.24% of the utility’s stock.
• Avista exceeded quarterly earnings expectations, reporting $0.43 in EPS versus the $0.23 consensus estimate, while revenue reached $413 million and rose 0.5% year over year.
• Avista declared a quarterly dividend of $0.4925 per share, equivalent to an annualized $1.97 dividend and a 5.0% yield. Analysts maintain a consensus “Hold” rating with a $39.25 price target.

Assenagon Asset Management S.A. bought a new position in Avista Corporation (NYSE:AVA - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 39,860 shares of the utilities provider's stock, valued at approximately $1,631,000.

Several other large investors also recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in Avista by 105.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,137,236 shares of the utilities provider's stock worth $43,829,000 after acquiring an additional 582,742 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Avista by 37,219.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 541,136 shares of the utilities provider's stock worth $20,855,000 after purchasing an additional 539,686 shares during the period. Qube Research & Technologies Ltd lifted its holdings in shares of Avista by 1,723.9% during the third quarter. Qube Research & Technologies Ltd now owns 442,427 shares of the utilities provider's stock worth $16,728,000 after purchasing an additional 418,170 shares during the period. State Street Corp boosted its position in Avista by 8.3% in the second quarter. State Street Corp now owns 5,191,896 shares of the utilities provider's stock valued at $197,032,000 after buying an additional 398,446 shares during the last quarter. Finally, Norges Bank purchased a new stake in Avista in the fourth quarter valued at approximately $13,533,000. Hedge funds and other institutional investors own 85.24% of the company's stock.

Avista Trading Up 1.2%

Shares of AVA opened at $39.11 on Friday. Avista Corporation has a 52-week low of $35.50 and a 52-week high of $43.50. The stock has a market cap of $3.28 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 3.62 and a beta of 0.25. The firm's fifty day moving average is $40.81 and its two-hundred day moving average is $40.90. The company has a quick ratio of 0.69, a current ratio of 1.10 and a debt-to-equity ratio of 1.08.

Avista (NYSE:AVA - Get Free Report) last issued its earnings results on Monday, August 3rd. The utilities provider reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.20. Avista had a net margin of 11.83% and a return on equity of 7.85%. The business had revenue of $413.00 million during the quarter, compared to analysts' expectations of $426.93 million. During the same period in the prior year, the business earned $0.17 earnings per share. The company's quarterly revenue was up .5% compared to the same quarter last year. Avista has set its FY 2026 guidance at 2.520-2.720 EPS. Research analysts forecast that Avista Corporation will post 2.58 earnings per share for the current fiscal year.

Avista Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Tuesday, August 18th will be given a dividend of $0.4925 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.97 dividend on an annualized basis and a yield of 5.0%. Avista's dividend payout ratio (DPR) is presently 71.12%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AVA. Wells Fargo & Company set a $39.00 price objective on shares of Avista in a report on Tuesday, April 21st. Mizuho upped their target price on Avista from $41.00 to $42.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Wall Street Zen raised Avista from a "sell" rating to a "hold" rating in a report on Saturday, April 18th. Weiss Ratings upgraded Avista from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 23rd. Finally, Barclays decreased their price target on Avista from $40.00 to $37.00 and set an "equal weight" rating for the company in a report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $39.25.

Avista Company 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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