Avista Corp. (AVA) Price Target Raised to $40.00 at Williams Capital
Avista Corp. (NYSE:AVA) had its price target lifted by equities researchers at Williams Capital from $38.00 to $40.00 in a note issued to investors on Thursday. The brokerage currently has a “hold” rating on the stock. Williams Capital’s price objective suggests a potential downside of 7.04% from the stock’s previous close.
AVA has been the topic of several other reports. Zacks Investment Research downgraded Avista Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, June 9th. BMO Capital Markets reaffirmed a “hold” rating and issued a $42.00 price target on shares of Avista Corp. in a research report on Wednesday, June 22nd.
Avista Corp. (NYSE:AVA) traded up 0.21% during trading on Thursday, hitting $43.12. The stock had a trading volume of 38,160 shares. The stock has a 50-day moving average price of $41.66 and a 200-day moving average price of $41.43. Avista Corp. has a 52 week low of $31.55 and a 52 week high of $45.22. The company has a market cap of $2.75 billion, a PE ratio of 19.85 and a beta of 0.45.
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Avista Corp. (NYSE:AVA) last posted its earnings results on Wednesday, August 3rd. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The business had revenue of $234.79 million for the quarter, compared to analyst estimates of $316.24 million. Avista Corp. had a return on equity of 8.32% and a net margin of 9.38%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 earnings per share. Equities analysts predict that Avista Corp. will post $2.08 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a $0.3425 dividend. This represents a $1.37 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Tuesday, August 30th. Avista Corp.’s payout ratio is presently 64.02%.
In related news, insider Marian M. Durkin sold 3,500 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $42.56, for a total value of $148,960.00. Following the completion of the sale, the insider now owns 67,245 shares in the company, valued at $2,861,947.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jason R. Thackston sold 950 shares of the stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $40.90, for a total transaction of $38,855.00. Following the completion of the sale, the senior vice president now owns 17,232 shares of the company’s stock, valued at approximately $704,788.80. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in AVA. Mason Street Advisors LLC bought a new stake in Avista Corp. during the second quarter valued at $554,000. IFP Advisors Inc boosted its stake in Avista Corp. by 1.4% in the second quarter. IFP Advisors Inc now owns 19,845 shares of the company’s stock valued at $889,000 after buying an additional 267 shares during the last quarter. Investment Centers of America Inc. bought a new stake in Avista Corp. during the second quarter valued at $203,000. Schwab Charles Investment Management Inc. boosted its stake in Avista Corp. by 3.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 328,254 shares of the company’s stock valued at $14,706,000 after buying an additional 9,678 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in Avista Corp. by 6.2% in the second quarter. Stifel Financial Corp now owns 8,153 shares of the company’s stock valued at $365,000 after buying an additional 474 shares during the last quarter. Institutional investors and hedge funds own 68.07% of the company’s stock.
Avista Corp. Company Profile
Avista Corporation is 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 segment generates, transmits and distributes electricity, and distributes natural gas serving electric and natural gas customers in eastern Washington and northern Idaho and natural gas customers in parts of Oregon.
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