Avista Corporation $AVA Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has reduced its stake in Avista Corporation (NYSE:AVA) by 2.3%, now owning 411,337 shares worth approximately $17.2 million.
• Avista announced a quarterly dividend of $0.49 per share, set to be paid on September 15, with a dividend yield of 5.4%.
• During the last quarter, Avista reported an earnings per share of $0.17, missing expectations, with revenue of $400 million compared to analyst estimates of $416 million.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Avista Corporation (NYSE:AVA - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 411,337 shares of the utilities provider's stock after selling 9,644 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.51% of Avista worth $17,223,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVA. GAMMA Investing LLC grew its stake in Avista by 252.3% during the 1st quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider's stock worth $38,000 after purchasing an additional 656 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Avista during the 1st quarter worth $43,000. Costello Asset Management INC acquired a new position in Avista during the 1st quarter worth $102,000. Entropy Technologies LP acquired a new position in Avista during the 1st quarter worth $214,000. Finally, Cerity Partners LLC acquired a new position in Avista during the 1st quarter worth $222,000. 85.24% of the stock is owned by institutional investors and hedge funds.

Avista Stock Down 0.1%

NYSE AVA traded down $0.05 on Friday, hitting $36.39. 408,566 shares of the stock were exchanged, compared to its average volume of 723,808. 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 Corporation has a fifty-two week low of $34.80 and a fifty-two week high of $43.09. The company has a market cap of $2.95 billion, a PE ratio of 16.39, a PEG ratio of 2.39 and a beta of 0.41. The company has a 50-day moving average price of $37.24 and a 200-day moving average price of $38.71.

Avista (NYSE:AVA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.11). Avista had a return on equity of 6.86% and a net margin of 9.13%.The firm had revenue of $400.00 million for the quarter, compared to analyst estimates of $416.06 million. During the same quarter last year, the firm earned $0.29 EPS. Sell-side analysts anticipate 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 will be paid on Monday, September 15th. Shareholders of record on Tuesday, August 19th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 5.4%. The ex-dividend date is Tuesday, August 19th. Avista's payout ratio is 88.29%.

Insider Buying and Selling

In other Avista news, VP David J. Meyer sold 1,367 shares of the business'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 transaction, the vice president owned 8,394 shares in the company, valued at $308,227.68. The trade was a 14.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.96% of the stock is owned by company insiders.

About Avista

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.