Ladenburg Thalmann Financial Services Inc. Buys 804 Shares of Avista Corp (NYSE:AVA)

Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Avista Corp (NYSE:AVA) by 5.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,835 shares of the utilities provider’s stock after purchasing an additional 804 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Avista were worth $750,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its holdings in shares of Avista by 1.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 22,379 shares of the utilities provider’s stock valued at $998,000 after purchasing an additional 230 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Avista by 3.3% during the 2nd quarter. D.A. Davidson & CO. now owns 9,310 shares of the utilities provider’s stock valued at $415,000 after purchasing an additional 300 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Avista by 0.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 35,128 shares of the utilities provider’s stock valued at $1,567,000 after purchasing an additional 306 shares during the last quarter. 6 Meridian boosted its holdings in shares of Avista by 2.2% during the 2nd quarter. 6 Meridian now owns 16,927 shares of the utilities provider’s stock valued at $755,000 after purchasing an additional 359 shares during the last quarter. Finally, Summit Global Investments boosted its holdings in shares of Avista by 2.5% during the 2nd quarter. Summit Global Investments now owns 16,300 shares of the utilities provider’s stock valued at $727,000 after purchasing an additional 400 shares during the last quarter. 79.65% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE AVA opened at $48.39 on Friday. The firm’s 50-day moving average price is $47.71 and its 200-day moving average price is $44.59. The company has a current ratio of 0.52, a quick ratio of 0.39 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 7.32 and a beta of 0.37. Avista Corp has a 12-month low of $39.75 and a 12-month high of $52.70.

Avista (NYSE:AVA) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. The firm had revenue of $300.81 million for the quarter, compared to analysts’ expectations of $315.08 million. Avista had a net margin of 14.43% and a return on equity of 6.35%. During the same period in the prior year, the company earned $0.39 EPS. On average, equities analysts predict that Avista Corp will post 1.98 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.387 per share. This represents a $1.55 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Wednesday, August 21st. Avista’s dividend payout ratio is 73.46%.

Several research analysts have commented on AVA shares. Williams Capital downgraded shares of Avista from a “hold” rating to a “sell” rating and increased their price objective for the company from $41.00 to $42.00 in a report on Monday, September 16th. Zacks Investment Research downgraded shares of Avista from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, ValuEngine raised shares of Avista from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $42.40.

In other news, VP James M. Kensok sold 760 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $46.95, for a total transaction of $35,682.00. Following the sale, the vice president now directly owns 8,649 shares in the company, valued at approximately $406,070.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jason R. Thackston sold 6,500 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $46.82, for a total transaction of $304,330.00. Following the sale, the senior vice president now owns 17,452 shares in the company, valued at $817,102.64. The disclosure for this sale can be found here. Insiders have sold a total of 8,698 shares of company stock worth $407,282 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Avista 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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