Assenagon Asset Management S.A. Has $13.26 Million Stake in Avista Corporation $AVA

Assenagon Asset Management S.A. increased its holdings in shares of Avista Corporation (NYSE:AVA) by 100.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 343,989 shares of the utilities provider’s stock after buying an additional 172,330 shares during the period. Assenagon Asset Management S.A.’s holdings in Avista were worth $13,257,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Salomon & Ludwin LLC bought a new position in Avista in the third quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in shares of Avista during the 2nd quarter valued at $37,000. Aquatic Capital Management LLC acquired a new position in shares of Avista in the 3rd quarter valued at $43,000. GAMMA Investing LLC lifted its stake in shares of Avista by 30.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,769 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 409 shares during the period. Finally, Lazard Asset Management LLC boosted its position in shares of Avista by 60.0% in the 2nd quarter. Lazard Asset Management LLC now owns 1,949 shares of the utilities provider’s stock worth $73,000 after purchasing an additional 731 shares during the last quarter. 85.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AVA shares. KeyCorp reaffirmed a “sector weight” rating on shares of Avista in a research note on Tuesday, January 27th. Weiss Ratings cut Avista from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Barclays started coverage on Avista in a research report on Monday, March 9th. They set an “equal weight” rating and a $40.00 target price for the company. Wall Street Zen downgraded shares of Avista from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Wells Fargo & Company reduced their price objective on shares of Avista from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Avista currently has a consensus rating of “Hold” and an average price target of $39.50.

Avista Stock Up 0.8%

Shares of Avista stock opened at $39.90 on Friday. Avista Corporation has a 1 year low of $35.50 and a 1 year high of $43.50. The business has a 50-day moving average of $40.68 and a two-hundred day moving average of $39.36. The company has a market capitalization of $3.28 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 2.23 and a beta of 0.28. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.83 and a quick ratio of 0.56.

Avista (NYSE:AVA) last released its quarterly earnings data on Saturday, January 31st. The utilities provider reported $0.88 earnings per share for the quarter. Avista had a return on equity of 7.29% and a net margin of 9.83%. As a group, equities analysts predict that Avista Corporation will post 2.3 EPS for the current year.

Avista Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Wednesday, February 25th were paid a $0.4925 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This is an increase from Avista’s previous quarterly dividend of $0.49. This represents a $1.97 dividend on an annualized basis and a yield of 4.9%. Avista’s payout ratio is presently 82.77%.

Insider Buying and Selling at Avista

In other news, SVP Bryan Alden Cox sold 1,768 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $40.18, for a total value of $71,038.24. Following the completion of the transaction, the senior vice president owned 8,401 shares in the company, valued at $337,552.18. This represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is owned by company insiders.

About Avista

Avista Corporation operates as an integrated energy company providing electric and natural gas delivery services to residential, commercial and industrial customers in the Pacific Northwest. Through its regulated utility operations, the company maintains and upgrades an extensive transmission and distribution network, delivering reliable energy to approximately 400,000 electric customers and 324,000 natural gas customers across Washington, Oregon and Idaho. In addition to its core utility business, Avista invests in owned generation assets, including hydroelectric, natural gas–fired, coal and wind facilities, to support system reliability and long-term supply planning.

Founded in 1889 as the Spokane and Inland Empire Water Power Company, the business adopted the Avista name in 1999 to reflect its growing energy portfolio and strategic focus on innovation.