Cambridge Investment Research Advisors Inc. reduced its holdings in Avista Co. (NYSE:AVA) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,807 shares of the utilities provider’s stock after selling 269 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Avista were worth $345,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in AVA. Bogart Wealth LLC acquired a new position in Avista in the 3rd quarter valued at approximately $66,000. FORA Capital LLC acquired a new stake in shares of Avista during the second quarter worth $75,000. Paloma Partners Management Co acquired a new stake in shares of Avista during the second quarter worth $201,000. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Avista during the second quarter worth $235,000. Finally, Shell Asset Management Co. increased its position in shares of Avista by 575.3% during the second quarter. Shell Asset Management Co. now owns 8,569 shares of the utilities provider’s stock worth $366,000 after buying an additional 7,300 shares during the period. Hedge funds and other institutional investors own 80.78% of the company’s stock.
Several equities research analysts have recently weighed in on AVA shares. Zacks Investment Research cut shares of Avista from a “hold” rating to a “sell” rating in a research report on Tuesday, January 4th. TheStreet upgraded shares of Avista from a “c+” rating to a “b-” rating in a research report on Monday, December 27th.
Avista (NYSE:AVA) last issued its earnings results on Wednesday, November 3rd. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.14. The business had revenue of $296.01 million for the quarter, compared to analyst estimates of $290.93 million. Avista had a net margin of 11.29% and a return on equity of 7.51%. During the same period in the prior year, the firm earned $0.07 earnings per share. On average, equities analysts predict that Avista Co. will post 2.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Friday, November 19th were paid a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a yield of 3.87%. The ex-dividend date was Thursday, November 18th. Avista’s dividend payout ratio is presently 75.45%.
In related news, VP Jason R. Thackston sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, December 14th. The shares were sold at an average price of $41.67, for a total transaction of $104,175.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.94% of the company’s stock.
Avista Corp. is a holding company, which engages in the provision of electric and natural gas utility business. It operates through the Avista Utilities, and Alaska Electric Light and Power Company (AEL&P) segments. The Avista Utilities segment includes electric distribution and transmission, and natural gas distribution services in parts of eastern Washington, Northern Idaho, and Northeastern and Southwestern Oregon.
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