Nuveen LLC Purchases Shares of 415,354 Avista Corporation $AVA

Key Points

• Nuveen LLC has acquired a new stake in Avista Corporation valued at approximately $17.39 million, securing 415,354 shares, which represents about 0.52% of the company.
• Avista's recently reported quarterly earnings showed an EPS of $0.17, missing expectations, with revenues of $400 million that fell short of analyst estimates.
• The company announced a quarterly dividend of $0.49 per share, with a dividend yield of 5.3%, and a payout ratio of 88.29%.

Nuveen LLC purchased a new position in Avista Corporation (NYSE:AVA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 415,354 shares of the utilities provider's stock, valued at approximately $17,391,000. Nuveen LLC owned approximately 0.52% of Avista at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Avista by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,360,222 shares of the utilities provider's stock worth $433,782,000 after buying an additional 99,365 shares in the last quarter. Ameriprise Financial Inc. increased its position in Avista by 1.8% during the fourth quarter. Ameriprise Financial Inc. now owns 2,967,172 shares of the utilities provider's stock worth $108,687,000 after purchasing an additional 53,222 shares during the last quarter. Westwood Holdings Group Inc. increased its position in Avista by 8.1% during the first quarter. Westwood Holdings Group Inc. now owns 1,382,168 shares of the utilities provider's stock worth $57,871,000 after purchasing an additional 103,844 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Avista by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,266,825 shares of the utilities provider's stock worth $53,042,000 after purchasing an additional 13,545 shares during the last quarter. Finally, Northern Trust Corp increased its position in Avista by 8.4% during the fourth quarter. Northern Trust Corp now owns 1,025,055 shares of the utilities provider's stock worth $37,548,000 after purchasing an additional 79,576 shares during the last quarter. 85.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Avista

In related 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 transaction of $38,727.68. Following the completion of the sale, the vice president directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.96% of the company's stock.

Avista Trading Up 1.8%

Avista stock traded up $0.6490 during midday trading on Friday, hitting $37.2690. 675,572 shares of the stock were exchanged, compared to its average volume of 765,995. Avista Corporation has a fifty-two week low of $34.80 and a fifty-two week high of $43.09. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 2.46 and a beta of 0.40. The stock's 50-day simple moving average is $37.58 and its 200 day simple moving average is $38.79. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 1.06.

Avista (NYSE:AVA - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.17 earnings per share (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 in the previous year, the business posted $0.29 earnings per share. On average, equities analysts anticipate that Avista Corporation will post 2.3 EPS for the current year.

Avista Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, August 19th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 5.3%. The ex-dividend date is Tuesday, August 19th. Avista's dividend payout ratio (DPR) is presently 88.29%.

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.