ARP Americas LP bought a new position in shares of Avista Corp (NYSE:AVA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,942 shares of the utilities provider’s stock, valued at approximately $289,000.
Several other hedge funds have also bought and sold shares of AVA. CWM Advisors LLC acquired a new position in shares of Avista during the 1st quarter worth approximately $36,000. First Quadrant L P CA acquired a new position in shares of Avista during the 1st quarter worth approximately $42,000. Pearl River Capital LLC acquired a new position in shares of Avista during the 1st quarter worth approximately $42,000. Bartlett & Co. LLC acquired a new position in shares of Avista during the 1st quarter worth approximately $64,000. Finally, Cognios Capital LLC acquired a new position in shares of Avista during the 1st quarter worth approximately $71,000. 79.32% of the stock is currently owned by institutional investors and hedge funds.
AVA has been the topic of a number of research reports. TheStreet lowered Avista from a “b-” rating to a “c+” rating in a report on Thursday, May 21st. Zacks Investment Research lowered Avista from a “hold” rating to a “sell” rating in a report on Monday, June 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Avista has a consensus rating of “Hold” and an average price target of $42.67.
Avista (NYSE:AVA) last released its earnings results on Friday, May 8th. The utilities provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. The firm had revenue of $377.20 million during the quarter, compared to the consensus estimate of $404.97 million. Avista had a return on equity of 6.75% and a net margin of 9.68%. The company’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.76 EPS. As a group, research analysts anticipate that Avista Corp will post 1.91 EPS for the current year.
Avista Company Profile
Avista Corporation operates as an electric and natural gas utility company. It operates through 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.
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