Zacks Investment Research cut shares of Avista Corp (NYSE:AVA) from a hold rating to a sell rating in a research note released on Tuesday.

According to Zacks, “Avista Corp. is a diversified energy company with utility and subsidiary operations located throughout North America. Avista Corp. also operates Avista Capital, which owns all the company’s non-regulated energy and non-energy businesses. Avista Capital companies include Avista Energy, Avista Energy Canada, Ltd., Avista Power, Avista Advantage, Avista Labs, Avista Fiber, Avista Communiations, Avista Development and Pentzer Corporation. (PRESS RELEASE) “

AVA has been the subject of several other reports. Williams Capital lowered Avista Corp from a hold rating to a sell rating and upped their price objective for the stock from $38.00 to $42.00 in a research note on Thursday, July 20th. BidaskClub lowered Avista Corp from a strong-buy rating to a buy rating in a research note on Wednesday, June 28th. Finally, BMO Capital Markets restated a hold rating and issued a $53.00 price objective on shares of Avista Corp in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $47.75.

Avista Corp (NYSE:AVA) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The company had revenue of $314.50 million during the quarter, compared to analysts’ expectations of $326.33 million. Avista Corp had a return on equity of 5.18% and a net margin of 6.91%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.43 earnings per share.

COPYRIGHT VIOLATION NOTICE: “Avista Corp (AVA) Downgraded by Zacks Investment Research” was reported by Daily Political and is owned by of Daily Political. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://www.dailypolitical.com/2017/10/13/avista-corp-ava-downgraded-by-zacks-investment-research.html.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a $0.3575 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $1.43 dividend on an annualized basis and a yield of 2.74%. Avista Corp’s payout ratio is presently 67.77%.

Hedge funds have recently modified their holdings of the business. Riverhead Capital Management LLC increased its stake in Avista Corp 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 buying an additional 698 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Avista Corp 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 buying an additional 599 shares in the last quarter. Advisor Group Inc. increased its stake in Avista Corp 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 buying an additional 403 shares in the last quarter. CWH Capital Management Inc. purchased a new stake in Avista Corp in the 2nd quarter worth $132,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Avista Corp by 8.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the utilities provider’s stock worth $134,000 after buying an additional 244 shares in the last quarter. Institutional investors and hedge funds own 69.66% of the company’s stock.

About Avista Corp

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.

Get a free copy of the Zacks research report on Avista Corp (AVA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Avista Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avista Corp and related companies with MarketBeat.com's FREE daily email newsletter.