Peregrine Capital Management LLC Sells 6,240 Shares of Avista Co. (NYSE:AVA)

Peregrine Capital Management LLC lessened its holdings in shares of Avista Co. (NYSE:AVA) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,511 shares of the utilities provider’s stock after selling 6,240 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.22% of Avista worth $6,246,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Foundry Partners LLC bought a new position in Avista in the 3rd quarter worth $10,076,000. Segall Bryant & Hamill LLC purchased a new position in shares of Avista during the third quarter valued at about $5,838,000. NFJ Investment Group LLC bought a new position in Avista in the third quarter worth about $4,963,000. Moody Aldrich Partners LLC purchased a new stake in Avista in the third quarter worth about $4,725,000. Finally, Assenagon Asset Management S.A. boosted its position in Avista by 46.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 374,207 shares of the utilities provider’s stock valued at $14,501,000 after acquiring an additional 117,814 shares in the last quarter. Hedge funds and other institutional investors own 85.24% of the company’s stock.

Avista Trading Up 0.8 %

NYSE:AVA opened at $37.08 on Wednesday. The firm has a market capitalization of $2.94 billion, a P/E ratio of 14.77, a PEG ratio of 2.48 and a beta of 0.49. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.75 and a quick ratio of 0.48. Avista Co. has a one year low of $32.70 and a one year high of $39.99. The company’s 50-day simple moving average is $36.52 and its 200 day simple moving average is $37.57.

Avista Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 26th will be given a $0.49 dividend. This is a boost from Avista’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date is Wednesday, February 26th. Avista’s payout ratio is currently 75.70%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group decreased their target price on Avista from $40.00 to $39.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th.

About Avista

Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in 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.