Avista (AVA) Stake Raised by Comerica Bank

Comerica Bank increased its stake in Avista (NYSE:AVA) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,947 shares of the utilities provider’s stock after buying an additional 2,782 shares during the quarter. Comerica Bank owned approximately 0.11% of Avista worth $3,586,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prentiss Smith & Co. Inc. bought a new stake in Avista in the 4th quarter valued at $171,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Avista by 34.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,225 shares of the utilities provider’s stock valued at $218,000 after acquiring an additional 1,080 shares during the period. BlueCrest Capital Management Ltd bought a new stake in Avista in the 4th quarter valued at $247,000. Zeke Capital Advisors LLC bought a new stake in Avista in the 4th quarter valued at $250,000. Finally, Vident Investment Advisory LLC bought a new stake in Avista in the 4th quarter valued at $262,000. 80.36% of the stock is owned by institutional investors.

AVA opened at $52.57 on Friday. Avista has a 1-year low of $41.21 and a 1-year high of $52.83. 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 capitalization of $3.44 billion, a P/E ratio of 26.96 and a beta of 0.30.

Avista (NYSE:AVA) last posted its quarterly earnings results on Wednesday, May 2nd. The utilities provider reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.05). Avista had a net margin of 7.66% and a return on equity of 7.25%. The business had revenue of $388.75 million during the quarter. During the same quarter in the previous year, the business posted $0.96 EPS. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. equities analysts expect that Avista will post 2.05 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, May 25th will be given a dividend of $0.3725 per share. This represents a $1.49 annualized dividend and a yield of 2.83%. The ex-dividend date is Thursday, May 24th. Avista’s payout ratio is 76.41%.

A number of research firms recently weighed in on AVA. Williams Capital restated a “sell” rating and issued a $40.00 price target (down previously from $42.00) on shares of Avista in a research note on Thursday, February 22nd. ValuEngine upgraded Avista from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $50.67.

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.

Institutional Ownership by Quarter for Avista (NYSE:AVA)

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