Morgan Stanley reduced its position in shares of Avista Corporation (NYSE:AVA) by 36.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 278,443 shares of the utilities provider’s stock after selling 162,829 shares during the period. Morgan Stanley’s holdings in Avista Corporation were worth $10,874,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in AVA. Vanguard Group Inc. raised its stake in Avista Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,254,298 shares of the utilities provider’s stock worth $244,231,000 after buying an additional 233,359 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Avista Corporation by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,297,134 shares of the utilities provider’s stock worth $50,653,000 after buying an additional 20,888 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Avista Corporation by 4.3% in the first quarter. JPMorgan Chase & Co. now owns 772,047 shares of the utilities provider’s stock worth $30,147,000 after buying an additional 31,868 shares during the last quarter. Norges Bank bought a new stake in Avista Corporation during the fourth quarter worth approximately $27,556,000. Finally, First Trust Advisors LP raised its stake in Avista Corporation by 20.4% in the first quarter. First Trust Advisors LP now owns 681,225 shares of the utilities provider’s stock worth $26,602,000 after buying an additional 115,373 shares during the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.
Shares of Avista Corporation (NYSE AVA) traded up 0.31% during midday trading on Friday, hitting $51.65. The stock had a trading volume of 1,103,293 shares. The stock has a market cap of $3.33 billion, a PE ratio of 24.42 and a beta of 0.42. Avista Corporation has a 12 month low of $37.78 and a 12 month high of $52.83. The stock’s 50-day moving average is $48.50 and its 200-day moving average is $42.63.
Avista Corporation (NYSE:AVA) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $314.50 million for the quarter, compared to the consensus estimate of $326.33 million. Avista Corporation had a net margin of 9.35% and a return on equity of 8.19%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 earnings per share. Equities analysts anticipate that Avista Corporation will post $1.93 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.3575 per share. This represents a $1.43 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Tuesday, August 29th. Avista Corporation’s payout ratio is currently 67.77%.
COPYRIGHT VIOLATION NOTICE: This piece was originally reported by Community Financial News and is the property of of Community Financial News. If you are reading this piece on another site, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The original version of this piece can be read at https://www.com-unik.info/2017/08/19/morgan-stanley-has-10-87-million-position-in-avista-corporation-nyseava-updated-updated-updated.html.
AVA has been the subject of a number of analyst reports. BMO Capital Markets reissued a “hold” rating and issued a $53.00 price target on shares of Avista Corporation in a research report on Friday, July 21st. Zacks Investment Research raised Avista Corporation from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Friday, July 21st. BidaskClub raised Avista Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. Finally, Williams Capital lowered Avista Corporation from a “hold” rating to a “sell” rating and raised their target price for the company from $38.00 to $42.00 in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $47.75.
About Avista Corporation
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.
What are top analysts saying about Avista Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Avista Corporation and related companies.