Avista (NYSE:AVA) Coverage Initiated at Barclays

Equities research analysts at Barclays initiated coverage on shares of Avista (NYSE:AVA) in a research report issued on Monday, Marketbeat.com reports. The brokerage set an “equal weight” rating and a $40.00 price target on the utilities provider’s stock. Barclays‘s target price would suggest a potential upside of 1.95% from the company’s current price.

AVA has been the subject of a number of other reports. Wells Fargo & Company reduced their price target on shares of Avista from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Jefferies Financial Group cut their target price on shares of Avista from $41.00 to $39.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. Weiss Ratings raised shares of Avista from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 24th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Avista in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Avista has an average rating of “Hold” and an average target price of $39.50.

Avista Stock Performance

NYSE:AVA opened at $39.23 on Monday. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 2.14 and a beta of 0.28. Avista has a 1 year low of $35.50 and a 1 year high of $43.50. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.83 and a quick ratio of 0.56. The stock’s 50 day simple moving average is $40.60 and its two-hundred day simple moving average is $39.15.

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

Insider Buying and Selling at Avista

In related news, SVP Wayne O. Manuel sold 1,785 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $38.74, for a total transaction of $69,150.90. Following the completion of the transaction, the senior vice president directly owned 9,883 shares of the company’s stock, valued at $382,867.42. This represents a 15.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Bryan Alden Cox sold 1,768 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $40.18, for a total transaction of $71,038.24. Following the completion of the sale, the senior vice president owned 8,401 shares of the company’s stock, valued at approximately $337,552.18. The trade was a 17.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.94% of the stock is currently owned by company insiders.

Institutional Trading of Avista

Several hedge funds have recently modified their holdings of the business. First Trust Advisors LP grew its holdings in Avista by 359.4% during the third quarter. First Trust Advisors LP now owns 1,282,508 shares of the utilities provider’s stock worth $48,492,000 after acquiring an additional 1,003,362 shares during the period. Norges Bank acquired a new position in shares of Avista during the 2nd quarter worth $29,674,000. Westwood Holdings Group Inc. grew its stake in shares of Avista by 52.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,110,711 shares of the utilities provider’s stock worth $80,101,000 after purchasing an additional 728,543 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Avista by 105.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,137,236 shares of the utilities provider’s stock valued at $43,829,000 after purchasing an additional 582,742 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Avista by 37,219.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 541,136 shares of the utilities provider’s stock valued at $20,855,000 after purchasing an additional 539,686 shares during the period. 85.24% of the stock is owned by institutional investors and hedge funds.

About Avista

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.