Ameritas Investment Partners Inc. grew its stake in shares of Avista Corporation (NYSE:AVA) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,653 shares of the utilities provider’s stock after purchasing an additional 183 shares during the period. Ameritas Investment Partners Inc.’s holdings in Avista Corporation were worth $240,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in AVA. Riverhead Capital Management LLC lifted its holdings in shares of Avista Corporation by 38.8% during the second quarter. Riverhead Capital Management LLC now owns 2,498 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 698 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Avista Corporation by 28.8% during the second quarter. PNC Financial Services Group Inc. now owns 2,678 shares of the utilities provider’s stock valued at $114,000 after purchasing an additional 599 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Avista Corporation by 16.3% during the second quarter. Advisor Group Inc. now owns 2,883 shares of the utilities provider’s stock valued at $123,000 after purchasing an additional 403 shares during the last quarter. CWH Capital Management Inc. purchased a new stake in shares of Avista Corporation during the second quarter valued at $132,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Avista Corporation by 8.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the utilities provider’s stock valued at $134,000 after purchasing an additional 244 shares during the last quarter. 67.86% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on AVA shares. Zacks Investment Research downgraded Avista Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Williams Capital downgraded Avista Corporation from a “hold” rating to a “sell” rating and increased their price objective for the stock from $38.00 to $42.00 in a research note on Thursday, July 20th. BMO Capital Markets reissued a “hold” rating and issued a $53.00 price objective on shares of Avista Corporation in a research note on Friday, July 21st. KeyCorp reissued a “hold” rating on shares of Avista Corporation in a research note on Friday, October 20th. Finally, BidaskClub raised Avista Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Avista Corporation has an average rating of “Hold” and a consensus target price of $47.75.
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Shares of Avista Corporation (NYSE:AVA) opened at 52.34 on Monday. The stock’s 50 day moving average price is $51.86 and its 200-day moving average price is $47.05. The stock has a market capitalization of $3.37 billion, a P/E ratio of 24.75 and a beta of 0.45. Avista Corporation has a 1-year low of $37.78 and a 1-year high of $52.83.
Avista Corporation (NYSE:AVA) last released 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 return on equity of 8.19% and a net margin of 9.35%. The company had revenue of $314.50 million for the quarter, compared to the consensus estimate of $326.33 million. During the same quarter in the previous year, the company posted $0.43 EPS. The business’s revenue was down 1.3% on a year-over-year basis. Equities research analysts anticipate that Avista Corporation will post $1.95 EPS for the current fiscal year.
Avista Corporation 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.
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