Ieq Capital LLC Invests $3.87 Million in Avista Corporation $AVA

Key Points

• Ieq Capital LLC acquired 94,667 Avista shares worth approximately $3.87 million during the second quarter, while institutional investors and hedge funds collectively owned 85.24% of the company.
• Avista reported quarterly earnings of $0.43 per share, beating analyst expectations of $0.23, although revenue of $413 million fell short of estimates. The stock was trading at $37.95, near the lower end of its 52-week range.
• Avista declared a quarterly dividend of $0.4925 per share, equivalent to an annualized $1.97 payout and a 5.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $39.25.

Ieq Capital LLC bought a new stake in shares of Avista Corporation (NYSE:AVA - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 94,667 shares of the utilities provider's stock, valued at approximately $3,873,000. Ieq Capital LLC owned approximately 0.11% of Avista at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. grew its position in Avista by 90.7% during the fourth quarter. UMB Bank n.a. now owns 637 shares of the utilities provider's stock valued at $25,000 after buying an additional 303 shares during the period. Bayban acquired a new position in shares of Avista in the fourth quarter worth about $35,000. Headlands Technologies LLC purchased a new stake in shares of Avista during the 2nd quarter worth about $37,000. Global Retirement Partners LLC purchased a new stake in shares of Avista during the 2nd quarter worth about $42,000. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Avista in the third quarter valued at about $43,000. 85.24% of the stock is currently owned by institutional investors and hedge funds.

Avista Trading Up 1.0%

NYSE:AVA opened at $37.95 on Tuesday. Avista Corporation has a 1 year low of $35.50 and a 1 year high of $43.50. The stock has a market cap of $3.18 billion, a P/E ratio of 13.70, a P/E/G ratio of 3.52 and a beta of 0.25. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.69 and a current ratio of 1.10. The stock has a 50-day simple moving average of $40.36 and a 200-day simple moving average of $40.78.

Avista (NYSE:AVA - Get Free Report) last issued its earnings results on Friday, July 31st. The utilities provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.20. The business had revenue of $413.00 million for the quarter, compared to analyst estimates of $426.93 million. Avista had a return on equity of 7.85% and a net margin of 11.83%.The business's quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS. As a group, analysts anticipate that Avista Corporation will post 2.58 earnings per share for the current fiscal year.

Avista Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.4925 per share. This represents a $1.97 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Tuesday, August 18th. Avista's payout ratio is currently 71.12%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AVA shares. Mizuho lifted their price objective on Avista from $41.00 to $42.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Zacks Research raised shares of Avista from a "strong sell" rating to a "hold" rating in a report on Friday, May 22nd. Weiss Ratings upgraded shares of Avista from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 23rd. Finally, Barclays lowered their price target on shares of Avista from $40.00 to $37.00 and set an "equal weight" rating for the company in a report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Avista presently has a consensus rating of "Hold" and an average price target of $39.25.

About Avista

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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