Avista Corporation (NYSE:AVA) Receives $40.25 Average Target Price from Analysts

Avista Corporation (NYSE:AVA) has been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $40.25.

AVA has been the topic of several analyst reports. KeyCorp reiterated a “sector weight” rating on shares of Avista in a report on Tuesday, January 27th. Zacks Research lowered Avista from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 31st. Jefferies Financial Group reduced their price target on Avista from $41.00 to $39.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Barclays lifted their price target on Avista from $40.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. Finally, Wells Fargo & Company set a $39.00 price target on Avista in a report on Tuesday, April 21st.

Avista Stock Up 0.4%

NYSE AVA opened at $41.20 on Wednesday. Avista has a 52 week low of $35.50 and a 52 week high of $43.50. The company has a quick ratio of 0.56, a current ratio of 0.83 and a debt-to-equity ratio of 1.04. The business’s fifty day simple moving average is $40.60 and its 200-day simple moving average is $40.08. The firm has a market cap of $3.40 billion, a PE ratio of 17.31, a P/E/G ratio of 2.27 and a beta of 0.23.

Avista (NYSE:AVA) last posted its quarterly earnings results on Saturday, January 31st. The utilities provider reported $0.88 EPS for the quarter. Avista had a return on equity of 7.29% and a net margin of 9.83%. As a group, equities analysts anticipate that Avista will post 2.57 earnings per share for the current year.

Avista Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Wednesday, February 25th were given a dividend of $0.4925 per share. This represents a $1.97 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Wednesday, February 25th. This is a positive change from Avista’s previous quarterly dividend of $0.49. Avista’s dividend payout ratio is 82.77%.

Insider Activity

In related news, SVP Bryan Alden Cox sold 1,768 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was 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 directly owned 8,401 shares of the company’s stock, valued at approximately $337,552.18. This trade represents a 17.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.78% of the company’s stock.

Institutional Trading of Avista

Hedge funds and other institutional investors have recently modified their holdings of the business. UMB Bank n.a. increased its position in shares of Avista by 90.7% during the 4th quarter. UMB Bank n.a. now owns 637 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 303 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of Avista during the 3rd quarter worth about $26,000. Bayban acquired a new stake in shares of Avista during the 4th quarter worth about $35,000. Headlands Technologies LLC acquired a new stake in shares of Avista during the 2nd quarter worth about $37,000. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Avista during the 3rd quarter worth about $43,000. 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.