Truist Financial Corp Decreases Position in Avista Co. (NYSE:AVA)

Truist Financial Corp decreased its stake in Avista Co. (NYSE:AVAGet Rating) by 42.7% in the third quarter, Holdings reports. The firm owned 12,647 shares of the utilities provider’s stock after selling 9,439 shares during the period. Truist Financial Corp’s holdings in Avista were worth $468,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Capital Wealth Alliance LLC purchased a new position in Avista during the second quarter worth $39,000. Lazard Asset Management LLC grew its holdings in Avista by 178.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,540 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 986 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in Avista during the 2nd quarter valued at about $83,000. EverSource Wealth Advisors LLC raised its position in Avista by 913.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,259 shares of the utilities provider’s stock worth $98,000 after purchasing an additional 2,036 shares during the period. Finally, Meeder Asset Management Inc. lifted its stake in Avista by 22.2% in the second quarter. Meeder Asset Management Inc. now owns 2,281 shares of the utilities provider’s stock worth $99,000 after purchasing an additional 415 shares during the last quarter. Institutional investors own 82.92% of the company’s stock.

Avista Stock Down 0.5 %

Shares of NYSE:AVA opened at $41.20 on Tuesday. The business’s 50 day moving average is $42.12 and its 200 day moving average is $41.11. The stock has a market cap of $3.04 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 3.45 and a beta of 0.53. Avista Co. has a 52-week low of $35.72 and a 52-week high of $46.90. The company has a quick ratio of 0.50, a current ratio of 0.68 and a debt-to-equity ratio of 1.04.

Avista (NYSE:AVAGet Rating) last issued its earnings results on Tuesday, November 1st. The utilities provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.24). The firm had revenue of $359.45 million during the quarter, compared to analysts’ expectations of $310.23 million. Avista had a return on equity of 5.78% and a net margin of 7.91%. During the same quarter in the prior year, the company posted $0.20 earnings per share. Sell-side analysts predict that Avista Co. will post 1.9 EPS for the current year.

Avista Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Friday, November 18th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.27%. Avista’s dividend payout ratio is presently 98.88%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AVA shares. upgraded Avista from a “sell” rating to a “hold” rating in a report on Monday. KeyCorp lowered Avista from a “sector weight” rating to an “underweight” rating and set a $33.00 target price on the stock. in a research note on Tuesday, November 1st. Mizuho boosted their target price on shares of Avista from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, December 13th. Finally, Guggenheim reduced their price target on shares of Avista from $34.00 to $33.00 in a research note on Monday, October 24th.

About Avista

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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.

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Institutional Ownership by Quarter for Avista (NYSE:AVA)

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