Avista Corporation (NYSE:AVA) Given Consensus Rating of “Hold” by Analysts

Shares of Avista Corporation (NYSE:AVA) have been given an average rating of “Hold” by the five brokerages that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $39.50.

AVA has been the subject of several analyst reports. Barclays began coverage on shares of Avista in a research note on Monday, March 9th. They issued an “equal weight” rating and a $40.00 price objective for the company. Jefferies Financial Group cut their target price on Avista from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. KeyCorp reissued a “sector weight” rating on shares of Avista in a research note on Tuesday, January 27th. Wells Fargo & Company dropped their price objective on Avista from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Finally, Weiss Ratings downgraded Avista from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th.

Avista Trading Up 1.4%

AVA stock opened at $40.69 on Friday. Avista has a twelve month low of $35.50 and a twelve month high of $43.50. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 2.22 and a beta of 0.23. The company has a quick ratio of 0.56, a current ratio of 0.83 and a debt-to-equity ratio of 1.04. The firm’s fifty day simple moving average is $40.69 and its two-hundred day simple moving average is $39.47.

Avista (NYSE:AVA) last released its earnings results on Saturday, January 31st. The utilities provider reported $0.88 earnings per share (EPS) for the quarter. Avista had a net margin of 9.83% and a return on equity of 7.29%. As a group, analysts anticipate that Avista will post 2.3 earnings per share for the current year.

Avista Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Wednesday, February 25th were paid a dividend of $0.4925 per share. This is an increase from Avista’s previous quarterly dividend of $0.49. This represents a $1.97 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Wednesday, February 25th. Avista’s payout ratio is presently 82.77%.

Insider Activity at Avista

In other news, SVP Bryan Alden Cox sold 1,768 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $40.18, for a total value of $71,038.24. Following the transaction, the senior vice president directly owned 8,401 shares in the company, valued at approximately $337,552.18. This represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Avista

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. increased its position in shares of Avista by 90.7% during the fourth quarter. UMB Bank n.a. now owns 637 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 303 shares during the period. Salomon & Ludwin LLC purchased a new stake in shares of Avista in the third quarter valued at approximately $26,000. Bayban purchased a new stake in shares of Avista in the fourth quarter valued at approximately $35,000. Headlands Technologies LLC bought a new position in Avista in the second quarter worth approximately $37,000. Finally, Aquatic Capital Management LLC bought a new position in Avista in the third quarter worth approximately $43,000. Institutional investors own 85.24% of the company’s stock.

Avista Company Profile

Avista Corporation operates as an integrated energy company providing electric and natural gas delivery services to residential, commercial and industrial customers in the Pacific Northwest. Through its regulated utility operations, the company maintains and upgrades an extensive transmission and distribution network, delivering reliable energy to approximately 400,000 electric customers and 324,000 natural gas customers across Washington, Oregon and Idaho. In addition to its core utility business, Avista invests in owned generation assets, including hydroelectric, natural gas–fired, coal and wind facilities, to support system reliability and long-term supply planning.

Founded in 1889 as the Spokane and Inland Empire Water Power Company, the business adopted the Avista name in 1999 to reflect its growing energy portfolio and strategic focus on innovation.