Fisher Asset Management LLC Reduces Stake in Avista Corporation (AVA)

Fisher Asset Management LLC decreased its stake in Avista Corporation (NYSE:AVA) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 499,214 shares of the utilities provider’s stock after selling 7,979 shares during the period. Fisher Asset Management LLC owned 0.78% of Avista Corporation worth $21,197,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Creative Planning increased its stake in shares of Avista Corporation by 0.4% in the second quarter. Creative Planning now owns 57,292 shares of the utilities provider’s stock valued at $2,433,000 after buying an additional 209 shares during the period. Ballentine Partners LLC bought a new stake in shares of Avista Corporation during the first quarter valued at approximately $210,000. Ronna Sue Cohen increased its stake in shares of Avista Corporation by 0.6% in the first quarter. Ronna Sue Cohen now owns 39,777 shares of the utilities provider’s stock valued at $1,553,000 after buying an additional 234 shares during the period. Credit Suisse AG increased its stake in shares of Avista Corporation by 9.0% in the first quarter. Credit Suisse AG now owns 98,448 shares of the utilities provider’s stock valued at $3,843,000 after buying an additional 8,131 shares during the period. Finally, Paloma Partners Management Co increased its stake in shares of Avista Corporation by 138.8% in the first quarter. Paloma Partners Management Co now owns 21,303 shares of the utilities provider’s stock valued at $832,000 after buying an additional 12,381 shares during the period. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Avista Corporation (NYSE:AVA) traded up 0.02% during mid-day trading on Friday, hitting $52.30. 997,971 shares of the stock were exchanged. The company has a market capitalization of $3.37 billion, a PE ratio of 24.73 and a beta of 0.42. The stock has a 50 day moving average price of $46.99 and a 200 day moving average price of $42.07. Avista Corporation has a 1-year low of $37.78 and a 1-year high of $52.83.

Avista Corporation (NYSE:AVA) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.03. Avista Corporation had a return on equity of 8.19% and a net margin of 9.35%. The firm had revenue of $314.50 million for the quarter, compared to analyst estimates of $326.33 million. During the same period in the previous year, the company earned $0.43 earnings per share. Avista Corporation’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities analysts anticipate that Avista Corporation will post $1.94 earnings per share for the current fiscal year.

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Several analysts have commented on the stock. BidaskClub upgraded shares of Avista Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. BMO Capital Markets restated a “hold” rating and set a $53.00 target price on shares of Avista Corporation in a report on Friday, July 21st. Zacks Investment Research upgraded shares of Avista Corporation from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Friday, July 21st. Finally, Williams Capital downgraded shares of Avista Corporation from a “hold” rating to a “sell” rating and raised their target price for the stock from $38.00 to $42.00 in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Avista Corporation has a consensus rating of “Hold” and a consensus target price of $47.75.

Avista Corporation Company Profile

Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.

Institutional Ownership by Quarter for Avista Corporation (NYSE:AVA)

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