Texas Permanent School Fund raised its stake in Avista Corporation (NYSE:AVA) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 47,010 shares of the utilities provider’s stock after buying an additional 448 shares during the period. Texas Permanent School Fund’s holdings in Avista Corporation were worth $1,996,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Tyers Asset Management LLC raised its position in shares of Avista Corporation by 11.5% in the first quarter. Tyers Asset Management LLC now owns 2,640 shares of the utilities provider’s stock valued at $103,000 after buying an additional 272 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Avista Corporation by 73.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,901 shares of the utilities provider’s stock valued at $113,000 after buying an additional 1,230 shares during the last quarter. Elkfork Partners LLC raised its position in shares of Avista Corporation by 11.5% in the first quarter. Elkfork Partners LLC now owns 3,630 shares of the utilities provider’s stock valued at $142,000 after buying an additional 374 shares during the last quarter. Meadow Creek Investment Management LLC raised its position in shares of Avista Corporation by 11.5% in the first quarter. Meadow Creek Investment Management LLC now owns 4,620 shares of the utilities provider’s stock valued at $181,000 after buying an additional 476 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new position in shares of Avista Corporation during the first quarter valued at about $210,000. Institutional investors own 69.11% of the company’s stock.

Avista Corporation (NYSE AVA) opened at 52.30 on Friday. The company has a 50 day moving average of $47.25 and a 200 day moving average of $42.16. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 24.73 and a beta of 0.42. Avista Corporation has a 52 week low of $37.78 and a 52 week high of $52.83.

Avista Corporation (NYSE:AVA) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.03. The firm had revenue of $314.50 million during the quarter, compared to the consensus estimate of $326.33 million. Avista Corporation had a return on equity of 8.19% and a net margin of 9.35%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 earnings per share. On average, equities analysts forecast that Avista Corporation will post $1.94 EPS for the current fiscal year.

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Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Avista Corporation from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, June 20th. Williams Capital lowered shares of Avista Corporation from a “hold” rating to a “sell” rating and increased their price target for the stock from $38.00 to $42.00 in a research note on Thursday, July 20th. BidaskClub lowered shares of Avista Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $53.00 price target on shares of Avista Corporation in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.75.

Avista Corporation Company Profile

Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.

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Institutional Ownership by Quarter for Avista Corporation (NYSE:AVA)

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