Dean Capital Management Buys 19,746 Shares of Avista Corporation $AVA

Key Points

• Dean Capital Management increased its holdings in Avista Corporation by 69.9% in the first quarter, acquiring an additional 19,746 shares, bringing its total ownership to approximately $2,010,000.
• Avista reported a miss in quarterly earnings with $0.17 earnings per share, falling short of analysts' expectations of $0.28, alongside a revenue of $400 million compared to an expected $416.06 million.
• The company has declared a quarterly dividend of $0.49, resulting in an annualized yield of 5.4%, with a payout ratio of 88.29% as stated in their recent dividend announcement.

Dean Capital Management lifted its holdings in Avista Corporation (NYSE:AVA - Free Report) by 69.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,995 shares of the utilities provider's stock after acquiring an additional 19,746 shares during the period. Dean Capital Management owned 0.06% of Avista worth $2,010,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. United Services Automobile Association bought a new position in Avista in the 1st quarter worth approximately $201,000. Caxton Associates LLP purchased a new position in shares of Avista in the first quarter worth $722,000. Kestra Investment Management LLC bought a new position in shares of Avista during the first quarter worth $248,000. Millennium Management LLC grew its stake in Avista by 531.2% during the first quarter. Millennium Management LLC now owns 1,370,502 shares of the utilities provider's stock valued at $57,383,000 after acquiring an additional 1,153,389 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Avista in the 1st quarter valued at $19,252,000. Institutional investors own 85.24% of the company's stock.

Insider Buying and Selling at Avista

In related news, VP David J. Meyer sold 1,367 shares of the firm's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $36.72, for a total value of $50,196.24. Following the completion of the transaction, the vice president directly owned 8,394 shares of the company's stock, valued at approximately $308,227.68. This trade represents a 14.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.94% of the company's stock.

Avista Price Performance

AVA stock traded down $0.05 during mid-day trading on Friday, hitting $36.39. The company had a trading volume of 408,566 shares, compared to its average volume of 571,222. The company has a 50-day moving average price of $37.20 and a 200 day moving average price of $38.68. Avista Corporation has a 12-month low of $34.80 and a 12-month high of $43.09. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 2.40 and a beta of 0.41. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 1.06.

Avista (NYSE:AVA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.11). Avista had a return on equity of 6.86% and a net margin of 9.13%.The firm had revenue of $400.00 million during the quarter, compared to the consensus estimate of $416.06 million. During the same period last year, the firm posted $0.29 earnings per share. On average, research analysts anticipate that Avista Corporation will post 2.3 earnings per share for the current 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 given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Tuesday, August 19th. Avista's dividend payout ratio is currently 88.29%.

Avista 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.