Avista Corporation $AVA Shares Acquired by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC increased its stake in Avista Corporation by 6.1% in the first quarter, now owning approximately 0.35% of the company worth $11.9 million.
• Avista's most recent quarterly earnings report showed earnings per share of $0.17, missing estimates by $0.11, and revenue of $400 million compared to expectations of $416.06 million.
• The company announced a quarterly dividend of $0.49 per share, representing an annualized yield of 5.3%, with a payout ratio currently at 88.29%.

Brandywine Global Investment Management LLC lifted its position in Avista Corporation (NYSE:AVA - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 285,127 shares of the utilities provider's stock after purchasing an additional 16,369 shares during the period. Brandywine Global Investment Management LLC owned about 0.35% of Avista worth $11,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in AVA. Nuveen LLC acquired a new position in shares of Avista in the 1st quarter valued at $17,391,000. ATLAS Infrastructure Partners UK Ltd. acquired a new position in shares of Avista in the 4th quarter valued at $7,960,000. Millennium Management LLC lifted its stake in shares of Avista by 317.6% in the 4th quarter. Millennium Management LLC now owns 217,113 shares of the utilities provider's stock valued at $7,953,000 after purchasing an additional 165,125 shares during the period. Van Lanschot Kempen Investment Management N.V. acquired a new position in shares of Avista in the 4th quarter valued at $5,034,000. Finally, Demars Financial Group LLC lifted its stake in shares of Avista by 18.8% in the 1st quarter. Demars Financial Group LLC now owns 682,659 shares of the utilities provider's stock valued at $28,583,000 after purchasing an additional 108,072 shares during the period. 85.24% of the stock is currently owned by institutional investors and hedge funds.

Avista Stock Performance

Shares of AVA traded down $0.3520 during trading hours on Wednesday, hitting $36.7980. The stock had a trading volume of 672,445 shares, compared to its average volume of 740,817. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 1.00. The firm has a 50-day moving average price of $37.63 and a 200 day moving average price of $38.79. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 2.44 and a beta of 0.40. Avista Corporation has a fifty-two week low of $34.80 and a fifty-two week high of $43.09.

Avista (NYSE:AVA - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $400.00 million for the quarter, compared to analyst estimates of $416.06 million. Avista had a return on equity of 6.86% and a net margin of 9.13%.During the same quarter in the prior year, the company posted $0.29 earnings per share. As a group, research analysts anticipate that Avista Corporation will post 2.3 EPS for the current year.

Avista Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, August 19th will be given a dividend of $0.49 per share. The ex-dividend date is Tuesday, August 19th. This represents a $1.96 dividend on an annualized basis and a yield of 5.3%. Avista's dividend payout ratio is currently 88.29%.

Insiders Place Their Bets

In other Avista news, VP Scott J. Kinney sold 1,024 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $37.82, for a total transaction of $38,727.68. Following the completion of the transaction, the vice president directly owned 11,515 shares in the company, valued at approximately $435,497.30. This represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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.