Hsbc Holdings PLC Has $4.09 Million Stock Holdings in Avista Corporation $AVA

Key Points

• Hsbc Holdings PLC significantly increased its holdings in Avista Corporation by 983.2% in the first quarter, owning approximately $4.09 million worth of shares now.
• Avista's recent earnings report showed an EPS of $0.17, falling short of the expected $0.28, with revenue of $400 million for the quarter.
• The company declared a $0.49 quarterly dividend, equating to a yield of 5.3%, with a payout ratio of 88.29%.

Hsbc Holdings PLC grew its holdings in Avista Corporation (NYSE:AVA - Free Report) by 983.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 98,649 shares of the utilities provider's stock after buying an additional 89,542 shares during the quarter. Hsbc Holdings PLC owned approximately 0.12% of Avista worth $4,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Avista by 252.3% in the first quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider's stock valued at $38,000 after buying an additional 656 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Avista in the first quarter valued at about $43,000. Costello Asset Management INC bought a new position in Avista in the first quarter valued at about $102,000. Entropy Technologies LP bought a new position in Avista in the first quarter valued at about $214,000. Finally, Cerity Partners LLC bought a new position in Avista in the first quarter valued at about $222,000. 85.24% of the stock is currently owned by institutional investors and hedge funds.

Avista Price Performance

Avista stock opened at $36.80 on Wednesday. The business's 50-day simple moving average is $37.57 and its 200 day simple moving average is $38.79. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 2.43 and a beta of 0.40. Avista Corporation has a 12-month low of $34.80 and a 12-month high of $43.09. 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 posted its quarterly 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). The firm had revenue of $400.00 million during the quarter, compared to the consensus estimate of $416.06 million. Avista had a net margin of 9.13% and a return on equity of 6.86%. During the same quarter in the prior year, the business earned $0.29 EPS. As a group, research analysts anticipate that Avista Corporation will post 2.3 earnings per share for the current year.

Avista Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, August 19th will be issued a $0.49 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $1.96 annualized dividend and a yield of 5.3%. Avista's dividend payout ratio (DPR) is currently 88.29%.

Insider Transactions at Avista

In related news, VP Scott J. Kinney sold 1,024 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $37.82, for a total value of $38,727.68. Following the transaction, the vice president owned 11,515 shares in the company, valued at $435,497.30. This trade represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.94% of the stock is currently owned by corporate insiders.

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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