Tudor Investment Corp ET AL Has $11.08 Million Stake in Avista Corporation $AVA

Key Points

• Tudor Investment Corp ET AL trimmed its stake in Avista by 12.6% to 293,151 shares (about $11.08M), and institutional investors now own roughly 85.24% of the company.
• Avista raised its quarterly dividend to $0.4925 (annualized $1.97) for a yield of 5.1%, while maintaining a high payout ratio of 82.77%.
• The stock is trading near $38.34 (down ~3%) with a $3.15B market cap and a P/E of 16.11, and analysts have a consensus Hold rating with a $39.50 price target.

Tudor Investment Corp ET AL trimmed its stake in Avista Corporation (NYSE:AVA - Free Report) by 12.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 293,151 shares of the utilities provider's stock after selling 42,248 shares during the period. Tudor Investment Corp ET AL owned 0.36% of Avista worth $11,084,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in Avista by 5.3% during the first quarter. Royal Bank of Canada now owns 65,494 shares of the utilities provider's stock valued at $2,741,000 after acquiring an additional 3,296 shares during the period. AQR Capital Management LLC increased its position in shares of Avista by 11.1% during the first quarter. AQR Capital Management LLC now owns 69,831 shares of the utilities provider's stock valued at $2,924,000 after purchasing an additional 6,967 shares during the period. United Services Automobile Association bought a new position in Avista in the first quarter worth $201,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Avista by 26.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 283,182 shares of the utilities provider's stock worth $11,857,000 after buying an additional 58,504 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Avista in the 1st quarter valued at $134,000. Institutional investors own 85.24% of the company's stock.

Avista Trading Down 3.0%

AVA opened at $38.34 on Monday. The firm's fifty day simple moving average is $40.71 and its 200 day simple moving average is $39.30. The stock has a market capitalization of $3.15 billion, a P/E ratio of 16.11, a P/E/G ratio of 2.16 and a beta of 0.28. The company has a current ratio of 0.83, a quick ratio of 0.56 and a debt-to-equity ratio of 1.04. Avista Corporation has a 12 month low of $35.50 and a 12 month high of $43.50.

Avista (NYSE:AVA - Get Free Report) last issued its quarterly earnings results on Saturday, January 31st. The utilities provider reported $0.88 EPS for the quarter. Avista had a return on equity of 7.29% and a net margin of 9.83%. As a group, research analysts anticipate that Avista Corporation will post 2.3 EPS for the current fiscal year.

Avista Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Wednesday, February 25th were given a $0.4925 dividend. This represents a $1.97 dividend on an annualized basis and a yield of 5.1%. This is an increase from Avista's previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Wednesday, February 25th. Avista's payout ratio is 82.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group dropped their target price on Avista from $41.00 to $39.00 and set a "hold" rating for the company in a research report on Wednesday, January 28th. Barclays initiated coverage on Avista in a research note on Monday, March 9th. They set an "equal weight" rating and a $40.00 price objective for the company. KeyCorp restated a "sector weight" rating on shares of Avista in a report on Tuesday, January 27th. Weiss Ratings cut Avista from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, March 10th. Finally, Wells Fargo & Company decreased their price objective on shares of Avista from $38.00 to $37.00 and set an "equal weight" rating for the company in a report on Tuesday, January 20th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $39.50.

Insider Transactions at Avista

In other Avista news, SVP Bryan Alden Cox sold 1,768 shares of Avista stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $40.18, for a total value of $71,038.24. Following the sale, the senior vice president directly owned 8,401 shares in the company, valued at approximately $337,552.18. The trade was a 17.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.94% of the company's stock.

Avista Company Profile

Avista Corporation operates as an integrated energy company providing electric and natural gas delivery services to residential, commercial and industrial customers in the Pacific Northwest. Through its regulated utility operations, the company maintains and upgrades an extensive transmission and distribution network, delivering reliable energy to approximately 400,000 electric customers and 324,000 natural gas customers across Washington, Oregon and Idaho. In addition to its core utility business, Avista invests in owned generation assets, including hydroelectric, natural gas–fired, coal and wind facilities, to support system reliability and long-term supply planning.

Founded in 1889 as the Spokane and Inland Empire Water Power Company, the business adopted the Avista name in 1999 to reflect its growing energy portfolio and strategic focus on innovation.

Want to see what other hedge funds are holding AVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avista Corporation (NYSE:AVA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.