KeyCorp Equities Analysts Lift Earnings Estimates for Avista Corp (AVA)

Avista Corp (NYSE:AVA) – Equities research analysts at KeyCorp upped their FY2017 EPS estimates for Avista in a research note issued on Monday. KeyCorp analyst P. Ridzon now anticipates that the utilities provider will earn $2.00 per share for the year, up from their prior forecast of $1.95. KeyCorp has a “Hold” rating on the stock.

Avista (NYSE:AVA) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Avista had a net margin of 8.86% and a return on equity of 7.94%.

Several other equities research analysts also recently commented on the company. ValuEngine downgraded Avista from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Zacks Investment Research raised Avista from a “sell” rating to a “hold” rating in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $47.75.

Shares of Avista (NYSE AVA) opened at $51.39 on Wednesday. Avista has a fifty-two week low of $37.78 and a fifty-two week high of $52.83. The company has a market capitalization of $3,307.72, a price-to-earnings ratio of 25.82 and a beta of 0.42. The company has a current ratio of 0.47, a quick ratio of 0.37 and a debt-to-equity ratio of 0.92.

A number of institutional investors have recently made changes to their positions in AVA. Riverhead Capital Management LLC increased its position in Avista by 38.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,498 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 698 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Avista by 28.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,678 shares of the utilities provider’s stock worth $114,000 after purchasing an additional 599 shares during the last quarter. Advisor Group Inc. increased its position in Avista by 16.3% in the 2nd quarter. Advisor Group Inc. now owns 2,883 shares of the utilities provider’s stock worth $123,000 after purchasing an additional 403 shares during the last quarter. CWH Capital Management Inc. acquired a new position in Avista in the 2nd quarter worth about $132,000. Finally, LMR Partners LLP acquired a new position in Avista in the 3rd quarter worth about $201,000. 77.33% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Kevin J. Christie sold 500 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $51.81, for a total value of $25,905.00. Following the completion of the sale, the vice president now directly owns 1,992 shares of the company’s stock, valued at approximately $103,205.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP James M. Kensok sold 4,700 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $52.01, for a total value of $244,447.00. Following the completion of the sale, the vice president now directly owns 12,787 shares of the company’s stock, valued at $665,051.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,632 shares of company stock valued at $396,130. Company insiders own 1.10% of the company’s stock.

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Avista Company Profile

Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.

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