Westwood Holdings Group Inc. Raises Position in Avista Corporation (NYSE:AVA)

Key Points

• Westwood Holdings Group Inc. increased its stake in Avista Corporation by 8.1%, holding approximately 1.72% of the company valued at around $57.87 million following an addition of 103,844 shares in the first quarter.
• A number of hedge funds have also significantly increased their positions in Avista, with one firm expanding its holdings by 2,474.1% in the last quarter.
• Avista Corporation reported a loss in earnings per share (EPS) of $0.98 for the last quarter, falling short of analysts' estimates of $1.05, highlighting a slight decline in revenues compared to expectations.

Westwood Holdings Group Inc. lifted its stake in shares of Avista Corporation (NYSE:AVA - Free Report) by 8.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,382,168 shares of the utilities provider's stock after purchasing an additional 103,844 shares during the quarter. Westwood Holdings Group Inc. owned about 1.72% of Avista worth $57,871,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVA. LPL Financial LLC raised its holdings in shares of Avista by 28.2% in the 4th quarter. LPL Financial LLC now owns 35,291 shares of the utilities provider's stock worth $1,293,000 after acquiring an additional 7,753 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Avista by 44.0% in the 4th quarter. JPMorgan Chase & Co. now owns 480,744 shares of the utilities provider's stock worth $17,610,000 after acquiring an additional 147,007 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Avista by 17.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 13,513 shares of the utilities provider's stock worth $495,000 after acquiring an additional 2,014 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Avista by 4.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 15,551 shares of the utilities provider's stock worth $570,000 after acquiring an additional 732 shares during the last quarter. Finally, Headlands Technologies LLC raised its holdings in shares of 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 acquiring an additional 668 shares during the last quarter. Institutional investors own 85.24% of the company's stock.

Avista Stock Down 0.1%

Shares of AVA traded down $0.06 on Friday, reaching $37.38. The company's stock had a trading volume of 1,022,422 shares, compared to its average volume of 746,729. The company has a current ratio of 1.00, a quick ratio of 0.64 and a debt-to-equity ratio of 1.06. Avista Corporation has a twelve month low of $34.80 and a twelve month high of $43.09. The stock has a market capitalization of $3.03 billion, a PE ratio of 16.84, a PEG ratio of 2.47 and a beta of 0.40. The firm has a fifty day moving average of $37.66 and a 200-day moving average of $38.72.

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 analysts' consensus estimates of $0.28 by ($0.11). Avista had a return on equity of 6.86% and a net margin of 9.13%. The business had revenue of $400.00 million during the quarter, compared to analyst estimates of $416.06 million. During the same quarter in the prior year, the company earned $0.29 EPS. Equities analysts predict that Avista Corporation will post 2.3 EPS for the current year.

Avista Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, August 19th will be paid a $0.49 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $1.96 annualized dividend and a yield of 5.2%. Avista's dividend payout ratio (DPR) is 88.29%.

Insider Buying and Selling

In other Avista news, VP Scott J. Kinney sold 1,024 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $37.82, for a total value of $38,727.68. Following the completion of the sale, the vice president owned 11,515 shares in the company, valued at approximately $435,497.30. This trade represents a 8.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.96% of the company's stock.

About Avista

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.