Avista Corporation (NYSE:AVA) Position Increased by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC increased its stake in Avista Corporation by 9.4% during the first quarter, now owning 139,023 shares worth approximately $5.82 million.
• Several hedge funds have also significantly increased their positions in Avista, with Headlands Technologies LLC boosting its stake by 2,474.1% in the previous quarter.
• Avista reported $0.98 EPS for the last quarter, missing the consensus estimate of $1.05 by $0.07, alongside a revenue of $603 million.

New Age Alpha Advisors LLC grew its position in shares of Avista Corporation (NYSE:AVA - Free Report) by 9.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,023 shares of the utilities provider's stock after purchasing an additional 11,946 shares during the period. New Age Alpha Advisors LLC owned approximately 0.17% of Avista worth $5,821,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC raised its stake in shares of Avista by 2,474.1% during the fourth quarter. Headlands Technologies LLC now owns 695 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 668 shares during the period. GAMMA Investing LLC increased its stake in shares of Avista by 252.3% in the first quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider's stock worth $38,000 after buying an additional 656 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Avista in the fourth quarter worth $215,000. Cerity Partners LLC bought a new stake in shares of Avista in the first quarter worth $222,000. Finally, Vision Capital Management Inc. bought a new stake in shares of Avista in the first quarter worth $224,000. Hedge funds and other institutional investors own 85.24% of the company's stock.

Avista Stock Down 0.1%

Shares of NYSE:AVA traded down $0.06 during midday trading on Friday, reaching $37.38. The company had a trading volume of 1,022,422 shares, compared to its average volume of 746,729. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.00 and a quick ratio of 0.64. The stock's fifty day moving average price is $37.66 and its 200-day moving average price is $38.72. The stock has a market capitalization of $3.03 billion, a P/E ratio of 16.84, a PEG ratio of 2.47 and a beta of 0.40. Avista Corporation has a one year low of $34.80 and a one year high of $43.09.

Avista (NYSE:AVA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.11). The company had revenue of $400.00 million during the quarter, compared to the consensus estimate of $416.06 million. Avista had a return on equity of 6.86% and a net margin of 9.13%. During the same quarter last year, the firm posted $0.29 EPS. 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 declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, August 19th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Tuesday, August 19th. Avista's payout ratio is 88.29%.

Insider Activity

In related news, VP Scott J. Kinney sold 1,024 shares of Avista 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 in the company, valued at approximately $435,497.30. The trade was a 8.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.96% of the company's stock.

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.