IMS Capital Management Invests $291,000 in Avista Corporation $AVA

Key Points

• IMS Capital Management made a new investment in Avista Corporation, acquiring 7,671 shares worth approximately $291,000 in the second quarter.
• Avista reported $0.17 EPS for the last quarter, falling short of analysts' expectations of $0.28, with a revenue of $400 million against the forecast of $416.06 million.
• The company's recent dividend announcement was for $0.49 per share, yielding a 5.3% annualized dividend with a payout ratio of 88.29%.

IMS Capital Management acquired a new position in Avista Corporation (NYSE:AVA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,671 shares of the utilities provider's stock, valued at approximately $291,000.

Several other institutional investors and hedge funds have also bought and sold shares of AVA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Avista by 6.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 224,678 shares of the utilities provider's stock worth $8,230,000 after buying an additional 13,415 shares during the period. Avant Financial Advisors LLC purchased a new stake in Avista in the fourth quarter worth about $297,000. GAMMA Investing LLC lifted its holdings in Avista by 14,651.2% in the first quarter. GAMMA Investing LLC now owns 38,353 shares of the utilities provider's stock worth $1,606,000 after buying an additional 38,093 shares during the period. Naples Global Advisors LLC lifted its holdings in Avista by 1.9% in the first quarter. Naples Global Advisors LLC now owns 24,148 shares of the utilities provider's stock worth $1,011,000 after buying an additional 450 shares during the period. Finally, A. D. Beadell Investment Counsel Inc. increased its stake in shares of Avista by 10.7% during the first quarter. A. D. Beadell Investment Counsel Inc. now owns 40,515 shares of the utilities provider's stock valued at $1,696,000 after purchasing an additional 3,910 shares in the last quarter. 85.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Avista

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

Avista Price Performance

Shares of NYSE AVA opened at $36.67 on Thursday. Avista Corporation has a fifty-two week low of $34.80 and a fifty-two week high of $43.09. The company has a 50 day simple moving average of $36.93 and a two-hundred day simple moving average of $38.51. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 2.43 and a beta of 0.41. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 1.00.

Avista (NYSE:AVA - Get Free Report) last announced its earnings results on Wednesday, August 6th. The utilities provider reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.11). Avista had a net margin of 9.13% and a return on equity of 6.86%. The business had revenue of $400.00 million for the quarter, compared to the consensus estimate of $416.06 million. During the same period in the prior year, the business posted $0.29 EPS. Analysts expect that Avista Corporation will post 2.3 EPS for the current fiscal year.

Avista Dividend Announcement

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

Avista Company 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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