Key Points
- Avista VP Alexis Alexander sold 555 shares on March 13 at an average price of $39.80 for $22,089, reducing their stake by 12.37% to 3,930 shares, according to an SEC filing.
- The company raised its quarterly dividend to $0.4925 (annualized $1.97), implying a 4.9% yield and an 82.77% payout ratio; the dividend was paid March 13 (ex-dividend Feb 25).
- Brokerages currently show an overall Hold consensus (five Hold ratings) with an average price target of $39.50 after several recent downgrades and target cuts.
Avista Corporation (NYSE:AVA - Get Free Report) VP Alexis Alexander sold 555 shares of Avista stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $39.80, for a total transaction of $22,089.00. Following the completion of the transaction, the vice president directly owned 3,930 shares in the company, valued at approximately $156,414. This trade represents a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Avista Stock Up 1.4%
Shares of NYSE:AVA opened at $39.85 on Friday. The firm has a 50 day simple moving average of $40.65 and a 200 day simple moving average of $39.17. Avista Corporation has a 52 week low of $35.50 and a 52 week high of $43.50. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.56 and a current ratio of 0.83. The company has a market cap of $3.28 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 2.12 and a beta of 0.28.
Avista (NYSE:AVA - Get Free Report) 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, research analysts expect that Avista Corporation will post 2.3 earnings per share for the current year.
Avista Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Wednesday, February 25th were issued a dividend of $0.4925 per share. This is a positive change from Avista's previous quarterly dividend of $0.49. This represents a $1.97 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Wednesday, February 25th. Avista's dividend payout ratio is presently 82.77%.
Analyst Ratings Changes
Several brokerages recently issued reports on AVA. Weiss Ratings downgraded Avista from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday. Barclays assumed coverage on Avista in a research note on Monday, March 9th. They set an "equal weight" rating and a $40.00 target price on the stock. KeyCorp reiterated a "sector weight" rating on shares of Avista in a report on Tuesday, January 27th. 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. Finally, Jefferies Financial Group lowered their price objective on shares of Avista from $41.00 to $39.00 and set a "hold" rating on the stock in a research report on Wednesday, January 28th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $39.50.
Check Out Our Latest Stock Analysis on Avista
Hedge Funds Weigh In On Avista
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in Avista by 8.0% in the 3rd quarter. Principal Financial Group Inc. now owns 519,946 shares of the utilities provider's stock valued at $19,659,000 after buying an additional 38,651 shares during the last quarter. Inspire Advisors LLC acquired a new position in shares of Avista during the third quarter worth approximately $1,118,000. Nuance Investments LLC lifted its holdings in shares of Avista by 50.4% during the third quarter. Nuance Investments LLC now owns 288,203 shares of the utilities provider's stock worth $10,897,000 after buying an additional 96,532 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Avista in the second quarter valued at approximately $1,745,000. Finally, Franklin Resources Inc. boosted its position in shares of Avista by 70.9% in the second quarter. Franklin Resources Inc. now owns 79,381 shares of the utilities provider's stock valued at $3,013,000 after acquiring an additional 32,926 shares during the period. Institutional investors own 85.24% of the company's stock.
About Avista
(
Get Free Report)
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.
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