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

Shares of Avista Corporation (NYSE:AVA) have received a consensus rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating. The average twelve-month price target among brokerages that have covered the stock in the last year is $39.50.

Several analysts recently commented on AVA shares. Wall Street Zen cut Avista from a “hold” rating to a “sell” rating in a report on Saturday. KeyCorp restated a “sector weight” rating on shares of Avista in a report on Tuesday, January 27th. Barclays assumed coverage on shares of Avista in a research report on Monday, March 9th. They issued an “equal weight” rating and a $40.00 price target on the stock. Jefferies Financial Group reduced their price objective on shares of Avista from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Finally, Weiss Ratings cut shares of Avista from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th.

Insider Buying and Selling at Avista

In other news, SVP Bryan Alden Cox sold 1,768 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was 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 of the company’s stock, valued at $337,552.18. The trade was a 17.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Avista

A number of hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its stake in Avista by 90.7% in the fourth quarter. UMB Bank n.a. now owns 637 shares of the utilities provider’s stock valued at $25,000 after buying an additional 303 shares during the period. Salomon & Ludwin LLC acquired a new stake in shares of Avista during the 3rd quarter worth approximately $26,000. Bayban acquired a new stake in shares of Avista during the 4th quarter worth approximately $35,000. Headlands Technologies LLC bought a new stake in shares of Avista in the 2nd quarter valued at $37,000. Finally, Aquatic Capital Management LLC bought a new stake in shares of Avista in the 3rd quarter valued at $43,000. 85.24% of the stock is currently owned by institutional investors.

Avista Stock Up 0.8%

Shares of AVA opened at $39.90 on Friday. The company has a market capitalization of $3.28 billion, a PE ratio of 16.77, a PEG ratio of 2.23 and a beta of 0.28. Avista has a 12 month low of $35.50 and a 12 month high of $43.50. The stock’s 50-day moving average price is $40.68 and its two-hundred day moving average price is $39.36. The company has a current ratio of 0.83, a quick ratio of 0.56 and a debt-to-equity ratio of 1.04.

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

Avista Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.4925 per share. This represents a $1.97 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Wednesday, February 25th. This is an increase from Avista’s previous quarterly dividend of $0.49. Avista’s dividend payout ratio (DPR) is 82.77%.

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.