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Mackenzie Financial Corp Invests $390,000 in Avista Corporation (NYSE:AVA)

Avista logo with Utilities background

Key Points

  • Mackenzie Financial Corp has acquired a new stake in Avista Corporation, purchasing 9,312 shares valued at approximately $390,000 during the first quarter.
  • Avista's recent earnings report showed a missed forecast with earnings per share of $0.17, falling short of analysts' expectations of $0.28.
  • Avista will pay a quarterly dividend of $0.49 per share on September 15th, representing a 5.2% yield based on an annualized payout of $1.96.
  • Want stock alerts on Avista? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Mackenzie Financial Corp acquired a new stake in Avista Corporation (NYSE:AVA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,312 shares of the utilities provider's stock, valued at approximately $390,000.

Other institutional investors also recently bought and sold shares of the company. Xponance Inc. lifted its holdings in shares of Avista by 5.5% in the first quarter. Xponance Inc. now owns 5,934 shares of the utilities provider's stock valued at $248,000 after purchasing an additional 307 shares in the last quarter. Barclays PLC lifted its stake in shares of Avista by 0.3% during the fourth quarter. Barclays PLC now owns 137,767 shares of the utilities provider's stock valued at $5,046,000 after buying an additional 359 shares during the period. Trust Co. of Vermont lifted its stake in shares of Avista by 7.9% during the first quarter. Trust Co. of Vermont now owns 5,494 shares of the utilities provider's stock valued at $230,000 after buying an additional 400 shares during the period. Cetera Investment Advisers lifted its stake in shares of Avista by 1.5% during the fourth quarter. Cetera Investment Advisers now owns 28,722 shares of the utilities provider's stock valued at $1,052,000 after buying an additional 415 shares during the period. Finally, Naples Global Advisors LLC lifted its stake in shares of Avista by 1.9% during the first quarter. Naples Global Advisors LLC now owns 24,148 shares of the utilities provider's stock valued at $1,011,000 after buying an additional 450 shares during the period. 85.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Scott J. Kinney sold 1,024 shares of the stock in a transaction 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 completion of the sale, the vice president owned 11,515 shares of the company's stock, valued at $435,497.30. This 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 this hyperlink. 0.96% of the stock is owned by insiders.

Avista Trading Up 0.1%

Shares of AVA traded up $0.04 on Monday, hitting $37.36. 616,665 shares of the stock traded hands, compared to its average volume of 739,051. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $3.03 billion, a P/E ratio of 16.83, a P/E/G ratio of 2.47 and a beta of 0.40. The stock's 50 day moving average is $37.66 and its two-hundred day moving average is $38.75. Avista Corporation has a 1 year low of $34.80 and a 1 year high of $43.09.

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 (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.11). The firm had revenue of $400.00 million for the quarter, compared to analysts' expectations of $416.06 million. Avista had a net margin of 9.13% and a return on equity of 6.86%. During the same period in the previous year, the company posted $0.29 EPS. As a group, sell-side analysts predict that Avista Corporation will post 2.3 earnings per share for the current year.

Avista Announces Dividend

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 $0.49 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $1.96 annualized dividend and a dividend yield of 5.2%. Avista's dividend payout ratio is presently 88.29%.

Avista Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Avista (NYSE:AVA)

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