Naples Global Advisors LLC Sells 2,590 Shares of Avista Corp (NYSE:AVA)

Naples Global Advisors LLC trimmed its holdings in Avista Corp (NYSE:AVA) by 9.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 26,040 shares of the utilities provider’s stock after selling 2,590 shares during the period. Naples Global Advisors LLC’s holdings in Avista were worth $1,058,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue raised its holdings in Avista by 1.5% during the fourth quarter. State of Alaska Department of Revenue now owns 21,949 shares of the utilities provider’s stock worth $932,000 after purchasing an additional 315 shares in the last quarter. Comerica Bank grew its position in Avista by 0.5% during the fourth quarter. Comerica Bank now owns 63,953 shares of the utilities provider’s stock worth $2,636,000 after buying an additional 331 shares during the period. Commonwealth Equity Services LLC grew its position in Avista by 5.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 7,562 shares of the utilities provider’s stock worth $321,000 after buying an additional 404 shares during the period. GWM Advisors LLC grew its position in Avista by 4.7% during the fourth quarter. GWM Advisors LLC now owns 9,793 shares of the utilities provider’s stock worth $416,000 after buying an additional 440 shares during the period. Finally, Raymond James & Associates grew its position in Avista by 5.3% during the fourth quarter. Raymond James & Associates now owns 9,521 shares of the utilities provider’s stock worth $404,000 after buying an additional 476 shares during the period. 75.99% of the stock is owned by institutional investors and hedge funds.

AVA has been the topic of several recent analyst reports. Guggenheim restated a “hold” rating and set a $38.00 target price on shares of Avista in a research report on Friday, February 8th. TheStreet lowered shares of Avista from a “b-” rating to a “c+” rating in a research report on Thursday, January 24th. Zacks Investment Research lowered shares of Avista from a “hold” rating to a “sell” rating in a research report on Wednesday, February 6th. Finally, Bank of America began coverage on shares of Avista in a research report on Thursday, May 9th. They issued an “underperform” rating and a $43.00 price target on the stock. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Avista presently has an average rating of “Hold” and a consensus price target of $40.67.

In other news, SVP Jason R. Thackston sold 1,250 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $43.58, for a total value of $54,475.00. Following the transaction, the senior vice president now owns 23,952 shares of the company’s stock, valued at approximately $1,043,828.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jason R. Thackston sold 2,875 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $40.04, for a total transaction of $115,115.00. Following the completion of the transaction, the senior vice president now directly owns 27,327 shares in the company, valued at approximately $1,094,173.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,125 shares of company stock worth $1,227,584. 1.10% of the stock is currently owned by insiders.

NYSE AVA traded down $0.13 during mid-day trading on Wednesday, reaching $41.72. 752,100 shares of the stock were exchanged, compared to its average volume of 727,796. Avista Corp has a 1-year low of $39.75 and a 1-year high of $52.91. The firm has a market cap of $2.76 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 6.66 and a beta of 0.40. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.54 and a current ratio of 0.64.

Avista (NYSE:AVA) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.31). The company had revenue of $377.70 million for the quarter. Avista had a return on equity of 6.48% and a net margin of 14.26%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 earnings per share. As a group, equities analysts predict that Avista Corp will post 1.93 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 23rd will be paid a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Wednesday, May 22nd. Avista’s dividend payout ratio is currently 73.46%.

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Avista Company Profile

Avista Corporation operates as an electric and natural gas utility company. It operates through two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.

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Institutional Ownership by Quarter for Avista (NYSE:AVA)

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