SPC Financial Inc. Has $322,000 Stock Holdings in Avista Co. (NYSE:AVA)

SPC Financial Inc. boosted its position in Avista Co. (NYSE:AVA) by 31.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,200 shares of the utilities provider’s stock after buying an additional 2,200 shares during the period. SPC Financial Inc.’s holdings in Avista were worth $322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in Avista by 140.8% in the 1st quarter. BNP Paribas Financial Markets now owns 92,319 shares of the utilities provider’s stock valued at $3,233,000 after buying an additional 53,983 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Avista by 19.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,281 shares of the utilities provider’s stock worth $1,551,000 after purchasing an additional 7,125 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in Avista by 6.4% during the 1st quarter. Benjamin Edwards Inc. now owns 12,036 shares of the utilities provider’s stock worth $422,000 after purchasing an additional 723 shares in the last quarter. Groesbeck Investment Management Corp NJ bought a new stake in Avista during the 1st quarter worth approximately $444,000. Finally, Wesbanco Bank Inc. bought a new stake in Avista during the 1st quarter worth approximately $1,051,000. 85.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AVA. StockNews.com raised Avista from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Mizuho raised Avista from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $32.00 to $36.00 in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.00.

Avista Stock Performance

AVA stock opened at $35.69 on Friday. The firm has a market cap of $2.79 billion, a PE ratio of 14.81 and a beta of 0.46. The company has a quick ratio of 0.69, a current ratio of 0.97 and a debt-to-equity ratio of 1.05. The business has a 50 day moving average of $35.79 and a 200-day moving average of $34.91. Avista Co. has a 12-month low of $30.53 and a 12-month high of $40.13.

Avista (NYSE:AVA) last released its earnings results on Wednesday, May 1st. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.09). The business had revenue of $594.90 million during the quarter, compared to the consensus estimate of $469.34 million. Avista had a net margin of 9.96% and a return on equity of 7.65%. The business’s revenue was up 29.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 earnings per share.

Avista Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Thursday, May 23rd were paid a $0.475 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $1.90 annualized dividend and a yield of 5.32%. Avista’s payout ratio is 78.84%.

Insider Activity at Avista

In related news, VP Latisha Diane Hill sold 1,700 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $36.21, for a total value of $61,557.00. Following the transaction, the vice president now owns 11,085 shares in the company, valued at $401,387.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Avista news, VP Latisha Diane Hill sold 1,700 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $36.21, for a total transaction of $61,557.00. Following the sale, the vice president now owns 11,085 shares in the company, valued at $401,387.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Bryan Alden Cox sold 1,716 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $35.70, for a total value of $61,261.20. Following the sale, the senior vice president now owns 7,196 shares in the company, valued at approximately $256,897.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,916 shares of company stock worth $215,268. Insiders own 0.96% of the company’s stock.

Avista 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.