Capital Fund Management S.A. Acquires 67,883 Shares of Avista Corporation $AVA

Key Points

• Capital Fund Management S.A. increased its stake in Avista Corporation by 307.0% in the first quarter, reaching a total of $3.77 million in holdings with 89,996 shares.
• Avista reported $0.17 earnings per share for the latest quarter, missing expectations of $0.28, with revenues of $400 million also falling short of analyst estimates.
• The company announced a quarterly dividend of $0.49 per share, reflecting an annualized dividend of $1.96 and a yield of 5.3%.

Capital Fund Management S.A. raised its position in shares of Avista Corporation (NYSE:AVA - Free Report) by 307.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,996 shares of the utilities provider's stock after acquiring an additional 67,883 shares during the period. Capital Fund Management S.A. owned approximately 0.11% of Avista worth $3,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Renaissance Technologies LLC bought a new position in Avista during the fourth quarter valued at $1,209,000. Raymond James Financial Inc. bought a new position in shares of Avista in the 4th quarter valued at about $1,007,000. Barclays PLC lifted its holdings in shares of Avista by 0.3% in the 4th quarter. Barclays PLC now owns 137,767 shares of the utilities provider's stock valued at $5,046,000 after acquiring an additional 359 shares during the last quarter. Mariner LLC grew its position in Avista by 15.8% in the fourth quarter. Mariner LLC now owns 24,687 shares of the utilities provider's stock worth $904,000 after acquiring an additional 3,360 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Avista by 6.4% in the fourth quarter. First Trust Advisors LP now owns 319,502 shares of the utilities provider's stock worth $11,703,000 after acquiring an additional 19,127 shares in the last quarter. 85.24% of the stock is owned by hedge funds and other institutional investors.

Avista Trading Up 0.7%

AVA stock traded up $0.25 during midday trading on Wednesday, reaching $37.04. 561,095 shares of the company traded hands, compared to its average volume of 735,248. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 2.43 and a beta of 0.40. Avista Corporation has a 52-week low of $34.80 and a 52-week high of $43.09. The business has a 50 day moving average of $37.57 and a 200-day moving average of $38.79. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 1.00.

Avista (NYSE:AVA - Get Free Report) last announced its earnings results on Wednesday, August 6th. The utilities provider reported $0.17 EPS 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 company had revenue of $400.00 million during the quarter, compared to analysts' expectations of $416.06 million. During the same quarter last year, the firm posted $0.29 EPS. As a group, sell-side analysts expect that Avista Corporation will post 2.3 earnings per share for the current fiscal year.

Avista Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, August 19th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $1.96 annualized dividend and a dividend yield of 5.3%. Avista's dividend payout ratio is currently 88.29%.

Insider Activity

In other news, VP Scott J. Kinney sold 1,024 shares of the firm's 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.94% of the company's stock.

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.