Williams Capital Increases Avista Corp. (AVA) Price Target to $40.00
Avista Corp. (NYSE:AVA) had its target price increased by equities researchers at Williams Capital from $38.00 to $40.00 in a report released 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 company’s previous close.
Several other analysts have also recently issued reports on AVA. Zacks Investment Research cut Avista Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, June 2nd. BMO Capital Markets reissued a “hold” rating and issued a $42.00 target price on shares of Avista Corp. in a research note on Wednesday, June 22nd.
Shares of Avista Corp. (NYSE:AVA) traded up 0.21% during mid-day trading on Thursday, hitting $43.12. The stock had a trading volume of 34,149 shares. Avista Corp. has a 52-week low of $31.55 and a 52-week high of $45.22. The stock’s 50-day moving average price is $41.66 and its 200-day moving average price is $41.43. The firm 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 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The business earned $234.79 million during the quarter, compared to the consensus estimate of $316.24 million. Avista Corp. had a return on equity of 8.32% and a net margin of 9.38%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. On average, analysts anticipate that Avista Corp. will post $2.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a dividend of $0.3425 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.37 annualized dividend and a yield of 3.18%. Avista Corp.’s payout ratio is 64.02%.
In other Avista Corp. news, SVP Jason R. Thackston sold 950 shares of Avista Corp. stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $40.90, for a total transaction of $38,855.00. Following the sale, the senior vice president now directly owns 17,232 shares of the company’s stock, valued at approximately $704,788.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Marian M. Durkin sold 3,500 shares of Avista Corp. stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $42.56, for a total value of $148,960.00. Following the sale, the insider now directly owns 67,245 shares in the company, valued at $2,861,947.20. The disclosure for this sale can be found here. Company insiders own 1.07% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AVA. Advisor Group Inc. purchased a new stake in Avista Corp. during the second quarter valued at $107,000. Tower Research Capital LLC TRC boosted its stake in Avista Corp. by 24,520.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,462 shares of the company’s stock valued at $111,000 after buying an additional 2,452 shares during the last quarter. Pinkerton Retirement Specialists LLC purchased a new stake in Avista Corp. during the second quarter valued at $117,000. Manchester Capital Management LLC purchased a new stake in Avista Corp. during the first quarter valued at $155,000. Finally, Bank of Montreal Can purchased a new stake in Avista Corp. during the second quarter valued at $181,000. 68.07% of the stock is currently owned by institutional investors and hedge funds.
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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