Gabelli Funds LLC Purchases 8,000 Shares of Avista Co. (NYSE:AVA)

Gabelli Funds LLC grew its position in shares of Avista Co. (NYSE:AVA) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 426,000 shares of the utilities provider’s stock after purchasing an additional 8,000 shares during the period. Gabelli Funds LLC owned about 0.54% of Avista worth $14,919,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of Avista in the 1st quarter valued at about $27,000. Mather Group LLC. bought a new stake in shares of Avista in the 1st quarter valued at about $32,000. Quarry LP lifted its stake in shares of Avista by 67.9% in the 4th quarter. Quarry LP now owns 1,179 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 477 shares during the last quarter. Strs Ohio lifted its stake in shares of Avista by 33.3% in the 4th quarter. Strs Ohio now owns 2,000 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 500 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Avista in the 1st quarter valued at about $73,000. Institutional investors own 85.24% of the company’s stock.

Avista Trading Up 0.1 %

AVA traded up $0.03 during midday trading on Friday, reaching $39.35. 484,280 shares of the company’s stock traded hands, compared to its average volume of 495,399. Avista Co. has a 52 week low of $30.53 and a 52 week high of $39.78. The firm has a fifty day moving average of $35.70 and a two-hundred day moving average of $35.02. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.97 and a quick ratio of 0.69. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 16.33 and a beta of 0.46.

Avista (NYSE:AVA) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.09). Avista had a return on equity of 7.65% and a net margin of 9.96%. The firm had revenue of $594.90 million for the quarter, compared to analysts’ expectations of $469.34 million. During the same quarter last year, the company posted $0.73 EPS. The firm’s revenue was up 29.3% on a year-over-year basis. On average, equities analysts anticipate that Avista Co. will post 2.42 earnings per share for the current fiscal year.

Avista Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, May 23rd were issued a dividend of $0.475 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.83%. Avista’s dividend payout ratio (DPR) is 78.84%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CEO Jason R. Thackston sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $36.98, for a total value of $92,450.00. Following the sale, the chief executive officer now owns 32,506 shares in the company, valued at approximately $1,202,071.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Bryan Alden Cox sold 1,716 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jason R. Thackston sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $36.98, for a total value of $92,450.00. Following the completion of the sale, the chief executive officer now owns 32,506 shares in the company, valued at approximately $1,202,071.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,916 shares of company stock worth $215,268. Company insiders own 0.96% of the company’s stock.

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.