Avista Corp. (AVA) Trading Down 2%
Avista Corp. (NYSE:AVA) shares dropped 2% during trading on Thursday . The company traded as low as $44.08 and last traded at $44.09, with a volume of 182,989 shares changing hands. The stock had previously closed at $44.97.
Several analysts have issued reports on AVA shares. Zacks Investment Research downgraded shares of Avista Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, June 9th. Mizuho started coverage on shares of Avista Corp. in a research note on Thursday, March 31st. They issued a “neutral” rating and a $41.00 price objective for the company. Williams Capital raised their price objective on shares of Avista Corp. from $35.00 to $37.00 and gave the stock a “hold” rating in a research note on Thursday, May 5th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $42.00 price objective on shares of Avista Corp. in a research note on Wednesday, June 22nd.
The company has a market capitalization of $2.77 billion and a PE ratio of 20.65. The firm’s 50 day moving average is $41.94 and its 200-day moving average is $39.24.
Avista Corp. (NYSE:AVA) last released its earnings results on Wednesday, May 4th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.09. The company had revenue of $418.20 million for the quarter, compared to analysts’ expectations of $477.79 million. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. On average, analysts expect that Avista Corp. will post $2.03 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Thursday, May 26th were paid a dividend of $0.3425 per share. The ex-dividend date was Tuesday, May 24th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.12%.
In other news, Director Erik J. Anderson sold 2,400 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $42.36, for a total transaction of $101,664.00. Following the completion of the sale, the director now owns 18,595 shares of the company’s stock, valued at $787,684.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Heidi B. Stanley sold 1,000 shares of the business’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $41.69, for a total transaction of $41,690.00. Following the sale, the director now directly owns 23,888 shares of the company’s stock, valued at approximately $995,890.72. The disclosure for this sale can be found here.
Several hedge funds recently added to or reduced their stakes in AVA. Rhumbline Advisers boosted its stake in Avista Corp. by 6.6% in the fourth quarter. Rhumbline Advisers now owns 118,452 shares of the company’s stock worth $4,190,000 after buying an additional 7,290 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Avista Corp. by 9.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 136,654 shares of the company’s stock valued at $4,833,000 after buying an additional 11,914 shares in the last quarter. American Investment Services Inc. acquired a new stake in shares of Avista Corp. during the fourth quarter valued at about $1,033,000. Richard C. Young & CO. LTD. boosted its stake in shares of Avista Corp. by 3.5% in the fourth quarter. Richard C. Young & CO. LTD. now owns 219,542 shares of the company’s stock valued at $7,765,000 after buying an additional 7,437 shares in the last quarter. Finally, Numeric Investors LLC acquired a new stake in shares of Avista Corp. during the fourth quarter valued at about $2,515,000.
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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