Envestnet Asset Management Inc. Increases Stock Position in Avista Co. (NYSE:AVA)

Envestnet Asset Management Inc. raised its stake in Avista Co. (NYSE:AVA - Free Report) by 11.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 297,117 shares of the utilities provider's stock after purchasing an additional 31,406 shares during the quarter. Envestnet Asset Management Inc. owned 0.38% of Avista worth $10,883,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AVA. Wells Fargo & Company MN grew its holdings in Avista by 11.7% in the 4th quarter. Wells Fargo & Company MN now owns 67,440 shares of the utilities provider's stock worth $2,470,000 after acquiring an additional 7,084 shares during the last quarter. Foundry Partners LLC grew its stake in shares of Avista by 24.3% in the fourth quarter. Foundry Partners LLC now owns 323,101 shares of the utilities provider's stock worth $11,835,000 after purchasing an additional 63,086 shares during the last quarter. Trexquant Investment LP purchased a new position in Avista during the 4th quarter valued at about $1,134,000. Headlands Technologies LLC raised its position in Avista by 2,474.1% during the 4th quarter. Headlands Technologies LLC now owns 695 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 668 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Avista by 4.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 15,551 shares of the utilities provider's stock worth $570,000 after buying an additional 732 shares during the period. Hedge funds and other institutional investors own 85.24% of the company's stock.

Insider Transactions at Avista

In other Avista news, VP Scott J. Kinney sold 2,298 shares of Avista stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $38.75, for a total value of $89,047.50. Following the completion of the sale, the vice president now owns 12,539 shares of the company's stock, valued at approximately $485,886.25. The trade was a 15.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.96% of the company's stock.

Avista Trading Down 0.6 %

Shares of NYSE AVA traded down $0.24 during midday trading on Wednesday, hitting $41.62. 47,417 shares of the company traded hands, compared to its average volume of 748,831. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.48 and a current ratio of 0.75. Avista Co. has a 12-month low of $33.45 and a 12-month high of $43.09. The stock has a 50-day moving average price of $39.88 and a 200 day moving average price of $38.12. The firm has a market cap of $3.34 billion, a P/E ratio of 16.58, a P/E/G ratio of 2.56 and a beta of 0.38.

Avista (NYSE:AVA - Get Free Report) last announced its earnings results on Wednesday, February 26th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.02). The firm had revenue of $517.00 million during the quarter, compared to the consensus estimate of $487.48 million. Avista had a return on equity of 7.83% and a net margin of 10.24%. As a group, analysts expect that Avista Co. will post 2.3 earnings per share for the current year.

Avista Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 26th were issued a $0.49 dividend. This is a positive change from Avista's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.71%. Avista's dividend payout ratio (DPR) is presently 86.34%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reduced their target price on Avista from $40.00 to $39.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th.

Avista Company Profile

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.