Corebridge Financial Inc. Decreases Holdings in Avista Corporation $AVA

Corebridge Financial Inc. decreased its position in shares of Avista Corporation (NYSE:AVA) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,401 shares of the utilities provider’s stock after selling 316 shares during the quarter. Corebridge Financial Inc.’s holdings in Avista were worth $1,733,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Xponance Inc. boosted its stake in shares of Avista by 5.5% during the 1st quarter. Xponance Inc. now owns 5,934 shares of the utilities provider’s stock worth $248,000 after acquiring an additional 307 shares in the last quarter. Moors & Cabot Inc. boosted its stake in shares of Avista by 3.2% during the 1st quarter. Moors & Cabot Inc. now owns 10,131 shares of the utilities provider’s stock worth $424,000 after acquiring an additional 313 shares in the last quarter. Trust Co. of Vermont boosted its stake in shares of Avista by 7.9% during the 1st quarter. Trust Co. of Vermont now owns 5,494 shares of the utilities provider’s stock worth $230,000 after acquiring an additional 400 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Avista by 1.5% during the 4th quarter. Cetera Investment Advisers now owns 28,722 shares of the utilities provider’s stock worth $1,052,000 after acquiring an additional 415 shares in the last quarter. Finally, Naples Global Advisors LLC boosted its stake in shares of Avista by 1.9% during the 1st quarter. Naples Global Advisors LLC now owns 24,148 shares of the utilities provider’s stock worth $1,011,000 after acquiring an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 85.24% of the company’s stock.

Insider Transactions at Avista

In related news, VP Scott J. Kinney sold 1,024 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $37.82, for a total value of $38,727.68. Following the sale, the vice president owned 11,515 shares of the company’s stock, valued at approximately $435,497.30. This represents a 8.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.94% of the company’s stock.

Avista Price Performance

Shares of NYSE:AVA opened at $36.43 on Wednesday. The business’s 50 day simple moving average is $37.46 and its 200-day simple moving average is $38.78. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 2.41 and a beta of 0.41. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.00 and a quick ratio of 0.68. Avista Corporation has a 12 month low of $34.80 and a 12 month high of $43.09.

Avista (NYSE:AVA) last posted its earnings results on Wednesday, August 6th. The utilities provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.11). Avista had a net margin of 9.13% and a return on equity of 6.86%. The company had revenue of $400.00 million during the quarter, compared to analysts’ expectations of $416.06 million. During the same period in the previous year, the company posted $0.29 EPS. As a group, equities analysts forecast that Avista Corporation will post 2.3 earnings per share for the current fiscal year.

Avista Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, August 19th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $1.96 dividend on an annualized basis and a yield of 5.4%. Avista’s dividend payout ratio is presently 88.29%.

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.