Renaissance Technologies LLC increased its stake in shares of Avista Corporation (NYSE:AVA) by 528.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 104,900 shares of the utilities provider’s stock after buying an additional 88,200 shares during the period. Renaissance Technologies LLC’s holdings in Avista Corporation were worth $4,096,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Avista Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,254,298 shares of the utilities provider’s stock valued at $244,231,000 after buying an additional 233,359 shares during the last quarter. Chartwell Investment Partners LLC raised its stake in shares of Avista Corporation by 49.4% in the first quarter. Chartwell Investment Partners LLC now owns 386,921 shares of the utilities provider’s stock valued at $15,109,000 after buying an additional 128,010 shares during the last quarter. First Trust Advisors LP raised its position 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 valued at $26,602,000 after buying an additional 115,373 shares in the last quarter. Karp Capital Management Corp purchased a new position in Avista Corporation during the first quarter valued at $3,991,000. Finally, Piermont Capital Management Inc. purchased a new position in Avista Corporation during the first quarter valued at $3,177,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.
Avista Corporation (NYSE:AVA) opened at 51.65 on Friday. Avista Corporation has a 12 month low of $37.78 and a 12 month high of $52.83. The firm has a market capitalization of $3.33 billion, a PE ratio of 24.42 and a beta of 0.42. The firm has a 50-day moving average of $48.50 and a 200 day moving average of $42.63.
Avista Corporation (NYSE:AVA) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.03. Avista Corporation had a net margin of 9.35% and a return on equity of 8.19%. The company had revenue of $314.50 million during the quarter, compared to analysts’ expectations of $326.33 million. During the same quarter last year, the firm earned $0.43 EPS. Avista Corporation’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities research analysts forecast that Avista Corporation will post $1.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.3575 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.43 annualized dividend and a yield of 2.77%. Avista Corporation’s dividend payout ratio (DPR) is presently 67.77%.
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Several brokerages recently commented on AVA. Zacks Investment Research raised shares of Avista Corporation from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Tuesday, June 20th. Williams Capital downgraded shares of Avista Corporation from a “hold” rating to a “sell” rating and boosted their price objective for the company from $38.00 to $42.00 in a report on Thursday, July 20th. BidaskClub downgraded shares of Avista Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 28th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $53.00 price objective on shares of Avista Corporation in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price 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.
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