Peregrine Capital Management LLC Reduces Stock Position in Avista Corporation (NYSE:AVA)

Peregrine Capital Management LLC cut its stake in shares of Avista Corporation (NYSE:AVA - Free Report) by 24.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 128,073 shares of the utilities provider's stock after selling 42,438 shares during the quarter. Peregrine Capital Management LLC owned 0.16% of Avista worth $5,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in shares of Avista by 16.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,184,838 shares of the utilities provider's stock worth $43,401,000 after acquiring an additional 168,648 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Avista during the fourth quarter valued at about $561,000. Smartleaf Asset Management LLC lifted its stake in Avista by 117.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 858 shares of the utilities provider's stock worth $31,000 after purchasing an additional 464 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in Avista by 45.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,462 shares of the utilities provider's stock worth $54,000 after purchasing an additional 456 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in shares of Avista in the 4th quarter worth about $176,000. Hedge funds and other institutional investors own 85.24% of the company's stock.

Avista Price Performance

Shares of NYSE AVA traded up $0.26 during trading hours on Friday, reaching $38.36. 289,723 shares of the stock traded hands, compared to its average volume of 619,225. The company has a market capitalization of $3.09 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 2.42 and a beta of 0.40. The company has a quick ratio of 0.64, a current ratio of 0.93 and a debt-to-equity ratio of 1.01. Avista Corporation has a 52-week low of $33.45 and a 52-week high of $43.09. The company's 50-day simple moving average is $38.68 and its two-hundred day simple moving average is $38.51.

Avista (NYSE:AVA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $0.98 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.07). Avista had a net margin of 9.63% and a return on equity of 7.28%. The business had revenue of $603.00 million for the quarter, compared to the consensus estimate of $636.30 million. During the same quarter in the previous year, the business earned $0.91 earnings per share. The firm's revenue was up 1.3% on a year-over-year basis. Equities research analysts forecast that Avista Corporation will post 2.3 EPS for the current year.

Avista Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, May 13th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.96 annualized dividend and a yield of 5.11%. Avista's payout ratio is 83.76%.

Insider Activity

In other news, VP Scott J. Kinney sold 1,024 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was 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 of the company's stock, valued at approximately $435,497.30. The trade was a 8.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.96% of the company's stock.

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.