Convergence Investment Partners LLC Has $1.67 Million Stock Holdings in Avista Co. (NYSE:AVA)

Convergence Investment Partners LLC boosted its stake in shares of Avista Co. (NYSE:AVA) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,459 shares of the utilities provider’s stock after purchasing an additional 1,878 shares during the period. Convergence Investment Partners LLC owned 0.06% of Avista worth $1,665,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Avista in the third quarter valued at approximately $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Avista in the third quarter valued at approximately $29,000. Allworth Financial LP lifted its position in shares of Avista by 296.7% in the fourth quarter. Allworth Financial LP now owns 956 shares of the utilities provider’s stock valued at $35,000 after buying an additional 715 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Avista by 43.0% in the fourth quarter. Versant Capital Management Inc now owns 1,723 shares of the utilities provider’s stock valued at $63,000 after buying an additional 518 shares during the last quarter. Finally, Eastern Bank lifted its position in shares of Avista by 309.3% in the fourth quarter. Eastern Bank now owns 1,842 shares of the utilities provider’s stock valued at $67,000 after buying an additional 1,392 shares during the last quarter. 85.24% of the stock is owned by institutional investors and hedge funds.

Avista Price Performance

Avista stock opened at $37.08 on Wednesday. The stock’s fifty day moving average price is $36.52 and its two-hundred day moving average price is $37.57. Avista Co. has a one year low of $32.70 and a one year high of $39.99. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.75 and a quick ratio of 0.48. The firm has a market cap of $2.94 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 2.48 and a beta of 0.49.

Avista Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Wednesday, February 26th will be paid a $0.49 dividend. This is a positive change from Avista’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $1.96 annualized dividend and a dividend yield of 5.29%. Avista’s dividend payout ratio (DPR) is presently 75.70%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group dropped their price target on Avista from $40.00 to $39.00 and set a “hold” rating for the company in a report on Tuesday, January 28th.

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.