CWA Asset Management Group LLC Boosts Stake in Avista Corporation $AVA

Key Points

• CWA Asset Management boosted its stake in Avista by 41.3% in Q4, adding 36,342 shares to hold 124,295 shares (about 0.15% of the company) worth roughly $4.79 million.
• Avista raised its quarterly dividend to $0.4925 (annualized $1.97), implying a 5.1% yield and a payout ratio of 82.77%.
• Analysts have a consensus rating of "Hold" with a $39.50 target; the stock trades in a one-year range of $35.50–$43.50 and has a market cap of about $3.15 billion (P/E ~16.1).

CWA Asset Management Group LLC increased its holdings in shares of Avista Corporation (NYSE:AVA - Free Report) by 41.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 124,295 shares of the utilities provider's stock after acquiring an additional 36,342 shares during the period. CWA Asset Management Group LLC owned approximately 0.15% of Avista worth $4,790,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Salomon & Ludwin LLC acquired a new stake in Avista in the third quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new stake in shares of Avista in the second quarter valued at approximately $37,000. Aquatic Capital Management LLC acquired a new position in shares of Avista during the 3rd quarter worth approximately $43,000. Allworth Financial LP lifted its position in shares of Avista by 51.7% during the 2nd quarter. Allworth Financial LP now owns 1,585 shares of the utilities provider's stock valued at $60,000 after buying an additional 540 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Avista by 30.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,769 shares of the utilities provider's stock valued at $67,000 after buying an additional 409 shares in the last quarter. Hedge funds and other institutional investors own 85.24% of the company's stock.

Insider Activity

In related news, SVP Bryan Alden Cox sold 1,768 shares of the firm's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $40.18, for a total transaction of $71,038.24. Following the completion of the sale, the senior vice president directly owned 8,401 shares in the company, valued at approximately $337,552.18. This trade represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.96% of the company's stock.

Avista Price Performance

NYSE:AVA opened at $38.34 on Friday. Avista Corporation has a one year low of $35.50 and a one year high of $43.50. The stock has a market cap of $3.15 billion, a PE ratio of 16.11, a P/E/G ratio of 2.14 and a beta of 0.28. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.56 and a current ratio of 0.83. The stock has a 50 day moving average price of $40.71 and a 200 day moving average price of $39.26.

Avista (NYSE:AVA - Get Free Report) last released its quarterly earnings data on Saturday, January 31st. The utilities provider reported $0.88 earnings per share for the quarter. Avista had a return on equity of 7.29% and a net margin of 9.83%. Equities research analysts expect that Avista Corporation will post 2.3 EPS for the current fiscal year.

Avista Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Wednesday, February 25th were issued a $0.4925 dividend. This is an increase from Avista's previous quarterly dividend of $0.49. This represents a $1.97 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Wednesday, February 25th. Avista's payout ratio is currently 82.77%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVA. Barclays assumed coverage on shares of Avista in a report on Monday, March 9th. They issued an "equal weight" rating and a $40.00 price target for the company. Wells Fargo & Company decreased their price objective on shares of Avista from $38.00 to $37.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 20th. KeyCorp reiterated a "sector weight" rating on shares of Avista in a research report on Tuesday, January 27th. Weiss Ratings cut shares of Avista from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, March 10th. Finally, Jefferies Financial Group reduced their price target on shares of Avista from $41.00 to $39.00 and set a "hold" rating for the company in a research report on Wednesday, January 28th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Avista presently has a consensus rating of "Hold" and a consensus target price of $39.50.

Avista Company Profile

Avista Corporation operates as an integrated energy company providing electric and natural gas delivery services to residential, commercial and industrial customers in the Pacific Northwest. Through its regulated utility operations, the company maintains and upgrades an extensive transmission and distribution network, delivering reliable energy to approximately 400,000 electric customers and 324,000 natural gas customers across Washington, Oregon and Idaho. In addition to its core utility business, Avista invests in owned generation assets, including hydroelectric, natural gas–fired, coal and wind facilities, to support system reliability and long-term supply planning.

Founded in 1889 as the Spokane and Inland Empire Water Power Company, the business adopted the Avista name in 1999 to reflect its growing energy portfolio and strategic focus on innovation.

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