LPL Financial LLC Has $2.10 Million Stock Holdings in Avista Corporation $AVA

Key Points

• LPL Financial LLC increased its stake in Avista Corporation by 42.3% in the first quarter, acquiring an additional 14,919 shares, bringing its total to 50,210 shares valued at approximately $2.1 million.
• Avista reported a missed earnings target for the last quarter, with earnings per share at $0.17 against an expected $0.28, alongside revenue of $400 million compared to analyst estimates of $416 million.
• The company also announced a quarterly dividend of $0.49 per share, resulting in an annualized dividend of $1.96 with a dividend yield of 5.3%.

LPL Financial LLC lifted its stake in shares of Avista Corporation (NYSE:AVA - Free Report) by 42.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,210 shares of the utilities provider's stock after purchasing an additional 14,919 shares during the quarter. LPL Financial LLC owned about 0.06% of Avista worth $2,102,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in shares of Avista by 11.7% during the 4th quarter. Wells Fargo & Company MN now owns 67,440 shares of the utilities provider's stock worth $2,470,000 after buying an additional 7,084 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Avista by 17.1% during the fourth quarter. Bank of Montreal Can now owns 10,343 shares of the utilities provider's stock valued at $379,000 after acquiring an additional 1,512 shares during the period. Renaissance Technologies LLC bought a new stake in Avista during the fourth quarter worth approximately $1,209,000. Raymond James Financial Inc. bought a new stake in Avista during the fourth quarter worth approximately $1,007,000. Finally, Barclays PLC lifted its position in Avista by 0.3% in the fourth quarter. Barclays PLC now owns 137,767 shares of the utilities provider's stock worth $5,046,000 after purchasing an additional 359 shares during the period. Institutional investors own 85.24% of the company's stock.

Insider Activity

In related news, VP Scott J. Kinney sold 1,024 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $37.82, for a total value of $38,727.68. Following the sale, the vice president directly owned 11,515 shares in the company, valued at $435,497.30. The trade was a 8.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.94% of the stock is owned by corporate insiders.

Avista Price Performance

NYSE AVA traded up $0.6490 on Friday, reaching $37.2690. 675,572 shares of the stock traded hands, compared to its average volume of 774,639. Avista Corporation has a 12 month low of $34.80 and a 12 month high of $43.09. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 2.46 and a beta of 0.40. The firm's fifty day simple moving average is $37.58 and its 200 day simple moving average is $38.80. 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 announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.11). Avista had a net margin of 9.13% and a return on equity of 6.86%. The firm had revenue of $400.00 million during the quarter, compared to analyst estimates of $416.06 million. During the same quarter last year, the company earned $0.29 EPS. As a group, research analysts predict that Avista Corporation will post 2.3 EPS for the current fiscal year.

Avista Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, August 19th will be given a dividend of $0.49 per share. The ex-dividend date is 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.