Mutual of America Capital Management LLC Grows Stock Holdings in Avista Corporation (NYSE:AVA)

Key Points

• Mutual of America Capital Management LLC has increased its stake in Avista Corporation by 19.2%, now owning 134,580 shares valued at approximately $5.63 million.
• Avista recently reported disappointing quarterly earnings, with earnings per share of $0.17, falling short of the $0.28 consensus estimate.
• The company announced a quarterly dividend of $0.49 per share, representing a yield of 5.3% and a payout ratio of 88.29%.

Mutual of America Capital Management LLC raised its holdings in shares of Avista Corporation (NYSE:AVA - Free Report) by 19.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 134,580 shares of the utilities provider's stock after buying an additional 21,654 shares during the period. Mutual of America Capital Management LLC owned about 0.17% of Avista worth $5,635,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AVA. GAMMA Investing LLC boosted its holdings in shares of Avista by 252.3% during the first quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider's stock worth $38,000 after purchasing an additional 656 shares during the period. Costello Asset Management INC purchased a new stake in shares of Avista during the first quarter worth about $102,000. Advisory Services Network LLC purchased a new stake in shares of Avista during the fourth quarter worth about $215,000. Cerity Partners LLC purchased a new stake in shares of Avista during the first quarter worth about $222,000. Finally, Vision Capital Management Inc. purchased a new stake in shares of Avista during the first quarter worth about $224,000. 85.24% of the stock is currently owned by hedge funds and other institutional investors.

Avista Trading Up 0.9%

Shares of Avista stock traded up $0.32 during trading on Tuesday, reaching $37.69. 174,879 shares of the stock were exchanged, compared to its average volume of 735,264. 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 1 year low of $34.80 and a 1 year high of $43.09. The stock's fifty day moving average is $37.64 and its 200 day moving average is $38.76. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 2.47 and a beta of 0.40.

Avista (NYSE:AVA - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $400.00 million during the quarter, compared to analysts' expectations of $416.06 million. During the same quarter last year, the business earned $0.29 earnings per share. As a group, equities research analysts expect that Avista Corporation will post 2.3 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 15th. Shareholders of record on Tuesday, August 19th will be issued a $0.49 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $1.96 annualized dividend and a yield of 5.2%. Avista's dividend payout ratio (DPR) is 88.29%.

Insider Buying and Selling

In other Avista news, VP Scott J. Kinney sold 1,024 shares of the firm's stock in a transaction dated 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 directly owned 11,515 shares in the company, valued at $435,497.30. This trade represents a 8.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.94% of the stock is owned by company insiders.

Avista 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.