Millennium Management LLC Grows Holdings in Avista Corporation $AVA

Millennium Management LLC boosted its holdings in shares of Avista Corporation (NYSE:AVA - Free Report) by 531.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,370,502 shares of the utilities provider's stock after buying an additional 1,153,389 shares during the quarter. Millennium Management LLC owned 1.70% of Avista worth $57,383,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Avista by 252.3% during the 1st quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider's stock worth $38,000 after buying an additional 656 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Avista during the 1st quarter worth approximately $43,000. Costello Asset Management INC purchased a new position in Avista during the 1st quarter worth approximately $102,000. Entropy Technologies LP purchased a new position in shares of Avista during the 1st quarter valued at approximately $214,000. Finally, Cerity Partners LLC purchased a new position in shares of Avista during the 1st quarter valued at approximately $222,000. 85.24% of the stock is owned by hedge funds and other institutional investors.

Avista Stock Performance

Shares of NYSE:AVA traded down $0.05 during trading on Friday, hitting $36.39. 408,566 shares of the stock traded hands, compared to its average volume of 579,694. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 1.06. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 2.41 and a beta of 0.41. The company has a fifty day moving average price of $37.20 and a two-hundred day moving average price of $38.69. Avista Corporation has a 52-week low of $34.80 and a 52-week high of $43.09.

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

Avista Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 dividend yield of 5.4%. The ex-dividend date is Tuesday, August 19th. Avista's dividend payout ratio is 88.29%.

Insider Activity at Avista

In other news, VP David J. Meyer sold 1,367 shares of the stock in a transaction dated Friday, September 5th. The shares were 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 in the company, valued at $308,227.68. This represents a 14.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is owned by company insiders.

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.