New Age Alpha Advisors LLC Has $5.82 Million Stock Position in Avista Corporation (NYSE:AVA)

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 boosted its holdings in shares of Avista Corporation (NYSE:AVA - Free Report) by 9.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 about 0.17% of Avista worth $5,821,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Headlands Technologies LLC lifted its holdings in shares of Avista by 2,474.1% in the 4th quarter. Headlands Technologies LLC now owns 695 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 668 shares during the last quarter. GAMMA Investing LLC increased its holdings in Avista by 252.3% in the first quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider's stock valued at $38,000 after buying an additional 656 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Avista during the 4th quarter valued at about $215,000. Cerity Partners LLC acquired a new position in shares of Avista in the 1st quarter worth approximately $222,000. Finally, Vision Capital Management Inc. acquired a new stake in Avista during the 1st quarter worth approximately $224,000. 85.24% of the stock is owned by institutional investors.

Insider Activity

In other Avista news, VP Scott J. Kinney sold 1,024 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $37.82, for a total transaction of $38,727.68. Following the transaction, the vice president 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 document filed with the SEC, which is available at the SEC website. 0.96% of the stock is owned by company insiders.

Avista Stock Performance

Shares of NYSE:AVA traded up $0.65 during midday trading on Thursday, hitting $37.32. The stock had a trading volume of 934,551 shares, compared to its average volume of 725,445. The company has a market capitalization of $3.01 billion, a PE ratio of 16.81, a P/E/G ratio of 2.42 and a beta of 0.40. Avista Corporation has a 1 year low of $34.80 and a 1 year high of $43.09. The stock has a 50 day moving average price of $37.68 and a two-hundred day moving average price of $38.72. The company has a current ratio of 1.00, a quick ratio of 0.64 and a debt-to-equity ratio of 1.06.

Avista (NYSE:AVA - Get Free Report) last announced its earnings results 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). The firm had revenue of $400.00 million during 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 quarter last year, the company posted $0.29 earnings per share. As a group, equities analysts predict 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. Stockholders of record on Tuesday, August 19th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Avista's dividend payout ratio is 83.76%.

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.