Envestnet Portfolio Solutions Inc. Has $683,000 Stock Position in Avista Corporation $AVA

Key Points

• Envestnet Portfolio Solutions Inc. increased its holdings in Avista Corporation by 112.8% during Q2, owning 18,002 shares worth approximately $683,000.
• Avista's recent earnings report showed missed expectations with an EPS of $0.17, below the consensus estimate of $0.28, due to a revenue shortfall of $400 million.
• The company declared a quarterly dividend of $0.49, resulting in a 5.0% yield, with a payout ratio of 88.29%.

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Avista Corporation (NYSE:AVA - Free Report) by 112.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,002 shares of the utilities provider's stock after acquiring an additional 9,544 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Avista were worth $683,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AVA. GAMMA Investing LLC boosted its holdings in shares of Avista by 252.3% during the first quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider's stock worth $38,000 after purchasing an additional 656 shares during the period. Janney Montgomery Scott LLC lifted its position in Avista by 9.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,649 shares of the utilities provider's stock worth $739,000 after buying an additional 1,561 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Avista by 8.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,958 shares of the utilities provider's stock valued at $249,000 after buying an additional 486 shares during the period. Trust Co. of Vermont grew its holdings in shares of Avista by 7.9% during the 1st quarter. Trust Co. of Vermont now owns 5,494 shares of the utilities provider's stock valued at $230,000 after acquiring an additional 400 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Avista in the first quarter worth $790,000. Hedge funds and other institutional investors own 85.24% of the company's stock.

Insider Buying and Selling

In other Avista news, VP David J. Meyer sold 1,367 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $36.72, for a total transaction of $50,196.24. Following the transaction, the vice president owned 8,394 shares in the company, valued at $308,227.68. This trade represents a 14.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Bryan Alden Cox acquired 3,671 shares of Avista stock in a transaction dated Tuesday, September 16th. The stock was purchased at an average price of $35.55 per share, with a total value of $130,504.05. Following the completion of the purchase, the senior vice president directly owned 9,989 shares of the company's stock, valued at $355,108.95. The trade was a 58.10% increase in their position. The disclosure for this purchase can be found here. 0.96% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Avista in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $39.00.

Avista Stock Up 1.5%

Avista stock opened at $39.01 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06. Avista Corporation has a 1-year low of $34.80 and a 1-year high of $43.09. The firm's fifty day simple moving average is $36.98 and its 200-day simple moving average is $38.14. The company has a market capitalization of $3.16 billion, a P/E ratio of 17.57, a P/E/G ratio of 2.15 and a beta of 0.39.

Avista (NYSE:AVA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.17 earnings per share (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 business had revenue of $400.00 million during the quarter, compared to the consensus estimate of $416.06 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. Sell-side analysts forecast that Avista Corporation will post 2.3 earnings per share for the current fiscal year.

Avista Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, August 19th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 5.0%. The ex-dividend date was Tuesday, August 19th. Avista's payout ratio is 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.

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