JPMorgan Chase & Co. Lowers Position in Avista Corp (AVA)

JPMorgan Chase & Co. trimmed its position in shares of Avista Corp (NYSE:AVA) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,178,451 shares of the utilities provider’s stock after selling 92,473 shares during the period. JPMorgan Chase & Co.’s holdings in Avista were worth $59,583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. SG Americas Securities LLC increased its stake in Avista by 212.0% during the third quarter. SG Americas Securities LLC now owns 62,013 shares of the utilities provider’s stock valued at $3,135,000 after acquiring an additional 42,135 shares during the period. Mint Tower Capital Management B.V. bought a new position in Avista during the third quarter valued at about $768,000. Gabelli Funds LLC increased its stake in Avista by 46.0% during the third quarter. Gabelli Funds LLC now owns 659,088 shares of the utilities provider’s stock valued at $33,323,000 after acquiring an additional 207,688 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Avista by 1,327.4% during the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 285,486 shares of the utilities provider’s stock valued at $14,434,000 after acquiring an additional 265,486 shares during the period. Finally, Gamco Investors INC. ET AL increased its stake in Avista by 367.6% during the third quarter. Gamco Investors INC. ET AL now owns 37,411 shares of the utilities provider’s stock valued at $1,892,000 after acquiring an additional 29,411 shares during the period. Hedge funds and other institutional investors own 77.52% of the company’s stock.

In related news, Director Heidi B. Stanley sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $51.40, for a total transaction of $154,200.00. Following the transaction, the director now directly owns 13,839 shares in the company, valued at $711,324.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 3,480 shares of company stock worth $178,743 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Shares of AVA opened at $52.40 on Friday. Avista Corp has a 12-month low of $47.50 and a 12-month high of $52.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.53 and a current ratio of 0.71. The stock has a market cap of $3.44 billion, a P/E ratio of 26.75 and a beta of 0.14.

Avista (NYSE:AVA) last issued its quarterly earnings results on Wednesday, November 7th. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). Avista had a net margin of 8.31% and a return on equity of 7.38%. The firm had revenue of $296.00 million for the quarter. During the same quarter last year, the company earned $0.07 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Analysts anticipate that Avista Corp will post 2.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a dividend of $0.373 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.49 annualized dividend and a yield of 2.85%. Avista’s dividend payout ratio is 76.41%.

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About Avista

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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Institutional Ownership by Quarter for Avista (NYSE:AVA)

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