Opus Investment Management Inc Lowers stake in Avista Corp (AVA)

Avista Corp (AVA) : Opus Investment Management Inc reduced its stake in Avista Corp by 16.25% during the most recent quarter end. The investment management company now holds a total of 139,200 shares of Avista Corp which is valued at $5.7 Million after selling 27,000 shares in Avista Corp , the firm said in a disclosure report filed with the SEC on May 12, 2016.Avista Corp makes up approximately 1.10% of Opus Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Oppenheimerfunds reduced its stake in AVA by selling 103,948 shares or 33.06% in the most recent quarter. The Hedge Fund company now holds 210,465 shares of AVA which is valued at $8.6 Million. Avista Corp makes up approx 0.01% of Oppenheimerfunds’s portfolio.First Trust Advisors Lp reduced its stake in AVA by selling 59,940 shares or 15.74% in the most recent quarter. The Hedge Fund company now holds 320,848 shares of AVA which is valued at $13.2 Million. Avista Corp makes up approx 0.04% of First Trust Advisors Lp’s portfolio.Smith Asset Management Group Lp reduced its stake in AVA by selling 40 shares or 6.42% in the most recent quarter. The Hedge Fund company now holds 583 shares of AVA which is valued at $23,955.Nisa Investment Advisors L.l.c. reduced its stake in AVA by selling 6,820 shares or 4.19% in the most recent quarter. The Hedge Fund company now holds 155,922 shares of AVA which is valued at $6.2 Million. Avista Corp makes up approx 0.09% of Nisa Investment Advisors L.l.c.’s portfolio.

Avista Corp opened for trading at $39.66 and hit $39.904 on the upside on Friday, eventually ending the session at $39.84, with a gain of 0.61% or 0.24 points. The heightened volatility saw the trading volume jump to 3,18,992 shares. Company has a market cap of $2,518 M.

On the company’s financial health, Avista Corp reported $0.89 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.80. The company had revenue of $418.20 million for the quarter, compared to analysts expectations of $477.79 million. The company’s revenue was down -6.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.74 EPS.

Investors should note that on May 12, 2016, Avista Corp announced a cash dividend of $0.3425. The company’s management has announced May 24, 2016 as the ex-dividend date and fixed the record date on May 26, 2016. The payable date has been fixed on Jun 15, 2016.

Many Wall Street Analysts have commented on Avista Corp. Company shares were Reiterated by Williams Capital Group on May 5, 2016 to “Hold”, Firm has raised the Price Target to $ 37 from a previous price target of $35 .Mizuho Initiated Avista Corp on Mar 31, 2016 to “Neutral”, Price Target of the shares are set at $41.Company shares were Downgraded by UBS on Mar 18, 2016 to ” Sell”, Firm has raised the Price Target to $ 36 from a previous price target of $33 .

Avista Corporation is primarily an electric and natural gas utility with certain other business ventures. The Company operates through two business segments: Avista Utilities and Alaska Electric Light and Power Company (AEL&P). Avista Utilities provides electric distribution and transmission as well as natural gas distribution services in parts of eastern Washington and northern Idaho. It also provides natural gas distribution service in parts of northeastern and southwestern Oregon. AEL&P owns and operates electric generation transmission and distribution facilities located in Juneau. The Company operates other businesses including sheet metal fabrication venture fund investments and real estate investments.

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