Northern Trust Corp Has $42.58 Million Stake in Avista Corporation $AVA

Key Points

• Northern Trust Corp reduced its stake in Avista Corporation by 0.8%, retaining 1,016,914 shares worth approximately $42.58 million at the end of the first quarter.
• Avista reported a missed earnings estimate for the last quarter, with earnings per share of $0.17 compared to the expected $0.28, and revenue of $400 million, below the forecast of $416.06 million.
• The company declared a quarterly dividend of $0.49 per share, reflecting a yield of 5.4%, with the payout ratio currently at 88.29%.

Northern Trust Corp trimmed its position in shares of Avista Corporation (NYSE:AVA - Free Report) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,016,914 shares of the utilities provider's stock after selling 8,141 shares during the period. Northern Trust Corp owned approximately 1.26% of Avista worth $42,578,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Avista by 252.3% during the first quarter. GAMMA Investing LLC now owns 916 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 656 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Avista during the first quarter valued at about $43,000. Costello Asset Management INC bought a new stake in Avista during the first quarter valued at about $102,000. Entropy Technologies LP bought a new stake in Avista during the first quarter valued at about $214,000. Finally, Cerity Partners LLC bought a new stake in Avista during the first quarter valued at about $222,000. 85.24% of the stock is currently owned by institutional investors.

Avista Stock Performance

Shares of NYSE AVA traded down $0.04 during mid-day trading on Friday, hitting $36.51. The company had a trading volume of 455,746 shares, compared to its average volume of 750,943. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.00 and a quick ratio of 0.68. The business's 50-day simple moving average is $37.52 and its 200-day simple moving average is $38.79. Avista Corporation has a 12 month low of $34.80 and a 12 month high of $43.09. The firm has a market cap of $2.96 billion, a P/E ratio of 16.45, a PEG ratio of 2.41 and a beta of 0.41.

Avista (NYSE:AVA - Get Free Report) last released 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). Avista had a net margin of 9.13% and a return on equity of 6.86%. The company had revenue of $400.00 million during the quarter, compared to the consensus estimate of $416.06 million. During the same quarter in the previous year, the business posted $0.29 EPS. As a group, analysts predict that Avista Corporation will post 2.3 earnings per share for the current fiscal year.

Avista Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Tuesday, August 19th. Avista's dividend payout ratio (DPR) is presently 88.29%.

Insider Buying and Selling at Avista

In related news, VP Scott J. Kinney sold 1,024 shares of the 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 owned 11,515 shares in the company, valued at approximately $435,497.30. This trade represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.94% 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.