Avista Corporation (NYSE:AVA) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Avista has a consensus “Hold” rating: Six of seven analysts rate the stock a hold, while one recommends buying it. The average 12-month price target is $39.25, slightly above the reported opening price of $37.95.
• Avista reported quarterly EPS of $0.43, exceeding the $0.23 analyst consensus, although revenue of $413 million fell short of expectations. Analysts expect full-year EPS of approximately $2.58.
• The company declared a quarterly dividend of $0.4925, equivalent to $1.97 annually and a 5.2% yield, with a dividend payout ratio of 71.12%.

Avista Corporation (NYSE:AVA - Get Free Report) has been given a consensus rating of "Hold" by the seven brokerages that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $39.25.

Several brokerages have recently weighed in on AVA. Weiss Ratings raised Avista from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 23rd. Barclays dropped their price target on shares of Avista from $40.00 to $37.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 4th. Zacks Research raised shares of Avista from a "strong sell" rating to a "hold" rating in a report on Friday, May 22nd. Finally, Mizuho upped their price objective on shares of Avista from $41.00 to $42.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th.

Avista Price Performance

NYSE:AVA opened at $37.95 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 1.10 and a debt-to-equity ratio of 1.08. Avista has a 52 week low of $35.50 and a 52 week high of $43.50. The stock's 50-day moving average price is $40.36 and its 200-day moving average price is $40.78. The stock has a market capitalization of $3.18 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 3.52 and a beta of 0.25.

Avista (NYSE:AVA - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The utilities provider reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.20. Avista had a return on equity of 7.85% and a net margin of 11.83%.The company had revenue of $413.00 million during the quarter, compared to analysts' expectations of $426.93 million. During the same quarter in the prior year, the firm posted $0.17 EPS. Avista's quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts expect that Avista will post 2.58 EPS for the current fiscal year.

Avista Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, August 18th will be given a $0.4925 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.97 annualized dividend and a dividend yield of 5.2%. Avista's dividend payout ratio (DPR) is 71.12%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. UMB Bank n.a. boosted its holdings in Avista by 90.7% in the 4th quarter. UMB Bank n.a. now owns 637 shares of the utilities provider's stock worth $25,000 after buying an additional 303 shares during the last quarter. Bayban purchased a new stake in Avista during the 4th quarter worth approximately $35,000. Headlands Technologies LLC acquired a new position in shares of Avista during the second quarter valued at approximately $37,000. Global Retirement Partners LLC acquired a new position in shares of Avista during the second quarter valued at approximately $42,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of Avista during the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 85.24% of the company's stock.

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.

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