Gamco Investors INC. ET AL Grows Holdings in Avista Corporation $AVA

Key Points

• Gamco Investors raised its stake in Avista by 28.2% to 412,244 shares (an additional 90,790 shares), representing about 0.51% of the company and worth roughly $15.59 million at quarter end.
• Avista increased its quarterly dividend to $0.4925 (annualized $1.97) for a yield of ~5.0%; the ex-dividend date was Feb. 25 and the payment is scheduled for Mar. 13, with a payout ratio of 82.77%.
• Two senior VPs recently sold shares (1,785 and 1,768 shares), trimming insider ownership to 0.96%, while institutional investors collectively own about 85.24% of the stock.

Gamco Investors INC. ET AL raised its stake in Avista Corporation (NYSE:AVA - Free Report) by 28.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 412,244 shares of the utilities provider's stock after buying an additional 90,790 shares during the period. Gamco Investors INC. ET AL owned about 0.51% of Avista worth $15,587,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in shares of Avista by 5.3% during the 1st quarter. Royal Bank of Canada now owns 65,494 shares of the utilities provider's stock worth $2,741,000 after acquiring an additional 3,296 shares during the last quarter. AQR Capital Management LLC increased its stake in 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 last quarter. United Services Automobile Association purchased a new stake in Avista during the first quarter valued at about $201,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in 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 purchasing an additional 58,504 shares in the last quarter. Finally, Strs Ohio bought a new stake in Avista during the first quarter worth about $134,000. Hedge funds and other institutional investors own 85.24% of the company's stock.

Insiders Place Their Bets

In other news, SVP Wayne O. Manuel sold 1,785 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $38.74, for a total transaction of $69,150.90. Following the completion of the sale, the senior vice president directly owned 9,883 shares in the company, valued at approximately $382,867.42. This represents a 15.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Bryan Alden Cox sold 1,768 shares of the firm's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $40.18, for a total value of $71,038.24. Following the completion of the sale, the senior vice president directly owned 8,401 shares in the company, valued at $337,552.18. The trade was a 17.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.96% of the stock is owned by company insiders.

Avista Stock Performance

Shares of AVA stock opened at $39.70 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.56 and a current ratio of 0.83. Avista Corporation has a fifty-two week low of $35.50 and a fifty-two week high of $43.50. The stock has a 50 day moving average price of $40.57 and a two-hundred day moving average price of $39.09. The company has a market capitalization of $3.27 billion, a P/E ratio of 16.68, a PEG ratio of 2.14 and a beta of 0.28.

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%. Analysts expect that Avista Corporation will post 2.3 earnings per share for the current year.

Avista Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Wednesday, February 25th will be given a dividend of $0.4925 per share. This represents a $1.97 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Wednesday, February 25th. This is an increase from Avista's previous quarterly dividend of $0.49. Avista's dividend payout ratio is currently 82.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. 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 Tuesday, February 24th. Wells Fargo & Company cut their target price on Avista from $38.00 to $37.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 20th. Finally, Jefferies Financial Group decreased their price target on shares of Avista from $41.00 to $39.00 and set a "hold" rating on the stock in a research note on Wednesday, January 28th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $39.33.

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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