Avista Corporation (NYSE:AVA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Avista Corporation (NYSE:AVA - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,166,007 shares of the utilities provider's stock after selling 18,831 shares during the period. Bank of New York Mellon Corp owned about 1.45% of Avista worth $48,821,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AVA. Headlands Technologies LLC boosted 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. GAMMA Investing LLC lifted its position in shares of Avista by 252.3% during the 1st quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider's stock valued at $38,000 after buying an additional 656 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Avista by 168.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,421 shares of the utilities provider's stock valued at $89,000 after buying an additional 1,520 shares in the last quarter. Xponance Inc. purchased a new position in shares of Avista during the 4th quarter valued at approximately $206,000. Finally, Advisory Services Network LLC purchased a new position in shares of Avista during the 4th quarter valued at approximately $215,000. Hedge funds and other institutional investors own 85.24% of the company's stock.

Insider Buying and Selling

In related news, VP Scott J. Kinney sold 1,024 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $37.82, for a total value of $38,727.68. Following the completion of the transaction, the vice president directly owned 11,515 shares of the company's stock, valued at approximately $435,497.30. This represents a 8.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.96% of the company's stock.

Avista Price Performance

Shares of NYSE:AVA traded down $0.05 during midday trading on Thursday, reaching $37.63. 36,623 shares of the company's stock traded hands, compared to its average volume of 621,770. Avista Corporation has a 1 year low of $34.80 and a 1 year high of $43.09. The company has a market cap of $3.03 billion, a P/E ratio of 16.08, a PEG ratio of 2.36 and a beta of 0.40. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.64 and a current ratio of 0.93. The company has a fifty day simple moving average of $38.11 and a two-hundred day simple moving average of $38.60.

Avista (NYSE:AVA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.05 by ($0.07). Avista had a net margin of 9.63% and a return on equity of 7.28%. The business had revenue of $603.00 million for the quarter, compared to analysts' expectations of $636.30 million. During the same quarter last year, the business earned $0.91 EPS. The company's quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts predict that Avista Corporation will post 2.3 EPS for the current fiscal year.

Avista Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, May 13th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 5.21%. The ex-dividend date was Tuesday, May 13th. Avista's dividend payout ratio is currently 83.76%.

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.