New York State Teachers Retirement System lessened its holdings in shares of Avista (NYSE:AVA) by 1.8% during the 1st quarter, Holdings Channel reports. The firm owned 208,571 shares of the utilities provider’s stock after selling 3,800 shares during the period. New York State Teachers Retirement System’s holdings in Avista were worth $10,689,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Prentiss Smith & Co. Inc. bought a new stake in shares of Avista during the fourth quarter worth $171,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Avista by 34.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,225 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 1,080 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Avista during the fourth quarter worth $247,000. Zeke Capital Advisors LLC bought a new stake in shares of Avista during the fourth quarter worth $250,000. Finally, Vident Investment Advisory LLC bought a new stake in shares of Avista during the fourth quarter worth $262,000. Institutional investors own 80.82% of the company’s stock.
Several analysts have recently commented on the company. Williams Capital restated a “sell” rating and set a $40.00 target price (down previously from $42.00) on shares of Avista in a report on Thursday, February 22nd. ValuEngine upgraded Avista from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $50.67.
Shares of AVA stock opened at $52.44 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.88. The firm has a market cap of $3.43 billion, a PE ratio of 26.89 and a beta of 0.30. Avista has a 52 week low of $52.40 and a 52 week high of $52.46.
Avista (NYSE:AVA) last announced its earnings results on Wednesday, May 2nd. The utilities provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.05). The business had revenue of $388.75 million for the quarter. Avista had a return on equity of 7.25% and a net margin of 7.66%. The business’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 EPS. equities analysts predict that Avista will post 2.05 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, May 25th will be issued a $0.3725 dividend. This represents a $1.49 annualized dividend and a yield of 2.84%. Avista’s dividend payout ratio is 76.41%.
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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