Avista Corporation (NYSE:AVA) Receives Average Rating of "Hold" from Analysts

Key Points

• Analyst consensus "Hold": Six analysts give Avista a consensus rating of Hold (1 sell, 4 hold, 1 buy) with a 12‑month average target of $40.25.
• Dividend raised: Avista increased its quarterly dividend to $0.4925 (annualized $1.97), implying a 4.9% yield and a payout ratio of about 82.8%.
• Valuation and outlook: The stock trades near $40.31 with a market cap of $3.33B and a P/E of 16.94; last quarter EPS was $0.88 and analysts forecast ~2.57 EPS for the year.

Shares of Avista Corporation (NYSE:AVA - Get Free Report) have received a consensus recommendation of "Hold" from the six research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $40.25.

A number of equities analysts have issued reports on the company. Barclays upped their target price on Avista from $40.00 to $41.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 15th. KeyCorp reaffirmed a "sector weight" rating on shares of Avista in a report on Tuesday, January 27th. Zacks Research cut Avista from a "hold" rating to a "strong sell" rating in a report on Tuesday, March 31st. Wells Fargo & Company set a $39.00 target price on Avista in a report on Tuesday. Finally, Weiss Ratings raised Avista from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, April 1st.

Avista Price Performance

Avista stock opened at $40.31 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.56 and a current ratio of 0.83. Avista has a 52 week low of $35.50 and a 52 week high of $43.50. The stock has a market capitalization of $3.33 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.28 and a beta of 0.23. The stock has a fifty day moving average of $40.77 and a 200-day moving average of $39.95.

Avista (NYSE:AVA - Get Free Report) last issued its earnings results on Saturday, January 31st. The utilities provider reported $0.88 earnings per share (EPS) for the quarter. Avista had a return on equity of 7.29% and a net margin of 9.83%. On average, sell-side analysts expect that Avista will post 2.57 earnings per share for the current fiscal year.

Avista Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Wednesday, February 25th were issued a $0.4925 dividend. This represents a $1.97 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Wednesday, February 25th. This is a boost from Avista's previous quarterly dividend of $0.49. Avista's payout ratio is currently 82.77%.

Insider Transactions at Avista

In other Avista news, SVP Bryan Alden Cox sold 1,768 shares of the company'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 completion of the transaction, the senior vice president owned 8,401 shares of the company's stock, valued at $337,552.18. This represents a 17.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Avista

Several institutional investors and hedge funds have recently made changes to their positions in AVA. Moors & Cabot Inc. increased its position in Avista by 2.5% in the fourth quarter. Moors & Cabot Inc. now owns 10,182 shares of the utilities provider's stock worth $392,000 after buying an additional 251 shares during the last quarter. Lido Advisors LLC grew its position in shares of Avista by 3.3% in the fourth quarter. Lido Advisors LLC now owns 7,941 shares of the utilities provider's stock valued at $302,000 after purchasing an additional 251 shares in the last quarter. Allworth Financial LP grew its position in shares of Avista by 14.4% in the fourth quarter. Allworth Financial LP now owns 2,020 shares of the utilities provider's stock valued at $78,000 after purchasing an additional 255 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Avista by 14.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,279 shares of the utilities provider's stock valued at $88,000 after purchasing an additional 283 shares in the last quarter. Finally, Congress Asset Management Co. grew its position in shares of Avista by 0.3% in the third quarter. Congress Asset Management Co. now owns 85,589 shares of the utilities provider's stock valued at $3,236,000 after purchasing an additional 295 shares in the last quarter. Institutional investors and hedge funds own 85.24% of the company's stock.

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.

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