Invenomic Capital Management LP Makes New $7.01 Million Investment in Avista Corporation $AVA

Invenomic Capital Management LP acquired a new position in shares of Avista Corporation (NYSE:AVA) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 185,510 shares of the utilities provider’s stock, valued at approximately $7,014,000. Invenomic Capital Management LP owned approximately 0.23% of Avista at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Salomon & Ludwin LLC bought a new stake in Avista in the third quarter worth $26,000. Headlands Technologies LLC purchased a new stake in Avista during the second quarter valued at $37,000. Aquatic Capital Management LLC bought a new position in Avista during the third quarter valued at $43,000. Allworth Financial LP lifted its position in Avista by 51.7% during the second quarter. Allworth Financial LP now owns 1,585 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 540 shares during the last quarter. Finally, GAMMA Investing LLC grew 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 worth $67,000 after buying an additional 409 shares in the last quarter. 85.24% of the stock is currently owned by institutional investors.

Avista Stock Up 1.4%

NYSE:AVA opened at $39.85 on Monday. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 2.16 and a beta of 0.28. Avista Corporation has a twelve month low of $35.50 and a twelve month high of $43.50. The company has a current ratio of 0.83, a quick ratio of 0.56 and a debt-to-equity ratio of 1.04. The stock has a fifty day simple moving average of $40.65 and a 200-day simple moving average of $39.20.

Avista (NYSE:AVA) last posted its quarterly earnings results on Saturday, January 31st. The utilities provider reported $0.88 EPS for the quarter. Avista had a net margin of 9.83% and a return on equity of 7.29%. Analysts anticipate that Avista Corporation will post 2.3 EPS for the current year.

Avista Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AVA shares. Weiss Ratings downgraded shares of Avista from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Barclays began coverage on Avista in a research report on Monday, March 9th. They issued an “equal weight” rating and a $40.00 price target for the company. Jefferies Financial Group reduced their price objective on Avista from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. KeyCorp restated a “sector weight” rating on shares of Avista in a research report on Tuesday, January 27th. Finally, Wells Fargo & Company lowered their price objective on Avista from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 20th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $39.50.

Insider Activity at Avista

In other Avista news, SVP Wayne O. Manuel sold 1,785 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $38.74, for a total transaction of $69,150.90. Following the transaction, the senior vice president directly owned 9,883 shares in the company, valued at $382,867.42. This trade represents a 15.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Bryan Alden Cox sold 1,768 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $40.18, for a total value of $71,038.24. Following the completion of the sale, the senior vice president owned 8,401 shares of the company’s stock, valued at $337,552.18. This represents a 17.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 4,108 shares of company stock worth $162,278. 0.94% of the stock is owned by insiders.

Avista Profile

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.