740,886 Shares in Avista Co. (NYSE:AVA) Acquired by Norges Bank

Norges Bank acquired a new stake in Avista Co. (NYSE:AVA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 740,886 shares of the utilities provider's stock, valued at approximately $27,139,000. Norges Bank owned 0.94% of Avista at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Avista by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 10,260,857 shares of the utilities provider's stock valued at $375,855,000 after acquiring an additional 327,535 shares in the last quarter. RWC Asset Management LLP grew its holdings in shares of Avista by 70.4% during the 4th quarter. RWC Asset Management LLP now owns 538,517 shares of the utilities provider's stock worth $19,726,000 after purchasing an additional 222,500 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Avista during the fourth quarter valued at approximately $7,875,000. Bank of New York Mellon Corp raised its stake in shares of Avista by 16.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,184,838 shares of the utilities provider's stock valued at $43,401,000 after purchasing an additional 168,648 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Avista by 44.0% in the fourth quarter. JPMorgan Chase & Co. now owns 480,744 shares of the utilities provider's stock worth $17,610,000 after purchasing an additional 147,007 shares during the period. Institutional investors and hedge funds own 85.24% of the company's stock.

Avista Price Performance

NYSE:AVA traded up $0.31 during trading hours on Friday, reaching $40.45. The company had a trading volume of 460,933 shares, compared to its average volume of 564,728. The company has a quick ratio of 0.48, a current ratio of 0.75 and a debt-to-equity ratio of 1.05. The stock has a 50-day moving average of $39.22 and a two-hundred day moving average of $37.95. Avista Co. has a one year low of $33.00 and a one year high of $43.42. The firm has a market capitalization of $3.25 billion, a PE ratio of 16.12, a PEG ratio of 2.56 and a beta of 0.38.

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

Avista Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 26th were paid a $0.49 dividend. 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 4.85%. This is a boost from Avista's previous quarterly dividend of $0.48. Avista's payout ratio is 86.34%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Avista

In related news, VP Scott J. Kinney sold 2,298 shares of Avista stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $38.75, for a total value of $89,047.50. Following the completion of the transaction, the vice president now directly owns 12,539 shares of the company's stock, valued at $485,886.25. The trade was a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.96% of the stock is owned by company insiders.

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.