Empirical Financial Services LLC d.b.a. Empirical Wealth Management Takes Position in Avista Corporation $AVA

Key Points

• Empirical Wealth Management bought a new stake in Avista (NYSE:AVA) of 28,188 shares in Q4, valued at approximately $1.09 million.
• Avista raised its quarterly dividend to $0.4925 (annualized $1.97), a 4.8% yield with a dividend payout ratio of 82.77%.
• Institutional investors own about 85.24% of the stock; analysts have a consensus rating of Hold with an average target price of $39.50 (shares ~ $41.31 at the time of the report).

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Avista Corporation (NYSE:AVA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 28,188 shares of the utilities provider's stock, valued at approximately $1,086,000.

Several other institutional investors and hedge funds have also bought and sold shares of AVA. Royal Bank of Canada boosted its position in Avista by 5.3% during the 1st quarter. Royal Bank of Canada now owns 65,494 shares of the utilities provider's stock valued at $2,741,000 after buying an additional 3,296 shares during the period. AQR Capital Management LLC increased its position in shares of Avista by 11.1% in the first quarter. AQR Capital Management LLC now owns 69,831 shares of the utilities provider's stock valued at $2,924,000 after acquiring an additional 6,967 shares during the period. United Services Automobile Association bought a new position in shares of Avista during the first quarter valued at about $201,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Avista by 26.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 283,182 shares of the utilities provider's stock valued at $11,857,000 after acquiring an additional 58,504 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Avista during the first quarter worth about $134,000. 85.24% of the stock is currently owned by institutional investors.

Avista Trading Down 0.1%

Shares of AVA opened at $41.31 on Friday. Avista Corporation has a 1-year low of $35.50 and a 1-year high of $43.50. The company has a current ratio of 0.83, a quick ratio of 0.56 and a debt-to-equity ratio of 1.04. The firm's 50-day moving average price is $40.73 and its 200-day moving average price is $39.52. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 2.28 and a beta of 0.23.

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

Avista Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Wednesday, February 25th were paid a $0.4925 dividend. This represents a $1.97 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Wednesday, February 25th. This is a boost from Avista's previous quarterly dividend of $0.49. Avista's dividend payout ratio (DPR) is 82.77%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Jefferies Financial Group cut their target price on Avista from $41.00 to $39.00 and set a "hold" rating on the stock in a research note on Wednesday, January 28th. Zacks Research lowered Avista from a "hold" rating to a "strong sell" rating in a research report on Tuesday. KeyCorp reiterated a "sector weight" rating on shares of Avista in a report on Tuesday, January 27th. Weiss Ratings raised Avista from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Finally, Wall Street Zen downgraded Avista from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $39.50.

Insider Buying and Selling at Avista

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

Avista 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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