ClearAlpha Technologies LP Invests $1.10 Million in Avista Co. (NYSE:AVA)

ClearAlpha Technologies LP purchased a new stake in shares of Avista Co. (NYSE:AVA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 28,266 shares of the utilities provider’s stock, valued at approximately $1,095,000.

Several other large investors have also recently bought and sold shares of the business. Harbor Capital Advisors Inc. increased its holdings in shares of Avista by 109.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 34,015 shares of the utilities provider’s stock valued at $1,177,000 after purchasing an additional 17,784 shares during the period. SG Americas Securities LLC increased its stake in Avista by 383.0% in the 2nd quarter. SG Americas Securities LLC now owns 27,941 shares of the utilities provider’s stock valued at $967,000 after buying an additional 22,156 shares during the period. Principal Financial Group Inc. lifted its position in Avista by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 420,527 shares of the utilities provider’s stock worth $16,295,000 after buying an additional 34,829 shares in the last quarter. Algert Global LLC boosted its stake in shares of Avista by 202.2% during the 3rd quarter. Algert Global LLC now owns 57,617 shares of the utilities provider’s stock valued at $2,233,000 after buying an additional 38,550 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Avista during the 2nd quarter valued at $5,638,000. 85.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Bank of America began coverage on Avista in a research report on Thursday, September 12th. They set an “underperform” rating and a $37.00 price objective for the company.

Avista Trading Up 0.2 %

NYSE:AVA opened at $38.69 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.75 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $38.00 and its 200-day moving average is $37.34. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 4.24 and a beta of 0.47. Avista Co. has a 12 month low of $31.91 and a 12 month high of $39.99.

Avista (NYSE:AVA) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.10. The firm had revenue of $383.70 million during the quarter, compared to analyst estimates of $389.29 million. Avista had a net margin of 10.24% and a return on equity of 7.83%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 EPS. Equities analysts anticipate that Avista Co. will post 2.36 EPS for the current year.

Avista Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.91%. The ex-dividend date is Tuesday, November 26th. Avista’s dividend payout ratio is currently 75.70%.

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.