Avista (NYSE:AVA) VP Joshua Diluciano Sells 4,675 Shares of Stock

Key Points

• Avista VP Joshua Diluciano sold 4,675 shares for approximately $174,097, reducing his direct holdings by 35.94% to 8,334 shares.
• Avista shares fell 1.1% to $37.23, below their 50-day and 200-day moving averages. The stock has a market capitalization of $3.12 billion and has traded between $35.50 and $43.50 over the past year.
• The company reported quarterly EPS of $0.43, exceeding estimates of $0.23, and declared a quarterly dividend of $0.4925, equivalent to a 5.3% annualized yield. Analysts maintain a consensus “Hold” rating with a $39.25 price target.

Avista Corporation (NYSE:AVA - Get Free Report) VP Joshua Diluciano sold 4,675 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $37.24, for a total value of $174,097.00. Following the completion of the transaction, the vice president directly owned 8,334 shares of the company's stock, valued at $310,358.16. This represents a 35.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Avista Stock Down 1.1%

Shares of NYSE:AVA traded down $0.41 during midday trading on Wednesday, reaching $37.23. The company had a trading volume of 288,630 shares, compared to its average volume of 670,118. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.10 and a quick ratio of 0.69. The stock's fifty day moving average price is $40.08 and its 200-day moving average price is $40.61. The stock has a market capitalization of $3.12 billion, a P/E ratio of 13.43, a PEG ratio of 3.49 and a beta of 0.25. Avista Corporation has a one year low of $35.50 and a one year high of $43.50.

Avista (NYSE:AVA - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The utilities provider reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.20. The firm had revenue of $413.00 million for the quarter, compared to the consensus estimate of $426.93 million. Avista had a net margin of 11.83% and a return on equity of 7.85%. The firm's revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 EPS. Equities research analysts expect that Avista Corporation will post 2.57 earnings per share for the current fiscal year.

Avista Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Tuesday, August 18th will be paid a $0.4925 dividend. This represents a $1.97 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Tuesday, August 18th. Avista's dividend payout ratio (DPR) is 71.12%.

Wall Street Analysts Forecast Growth

AVA has been the topic of several research reports. Weiss Ratings upgraded Avista from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 23rd. Mizuho upped their price target on Avista from $41.00 to $42.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Zacks Research upgraded Avista from a "strong sell" rating to a "hold" rating in a research note on Friday, May 22nd. Finally, Barclays decreased their price objective on shares of Avista from $40.00 to $37.00 and set an "equal weight" rating for the company in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $39.25.

Hedge Funds Weigh In On Avista

Large investors have recently bought and sold shares of the business. Nuance Investments LLC grew its holdings in Avista by 10.7% during the fourth quarter. Nuance Investments LLC now owns 319,020 shares of the utilities provider's stock worth $12,295,000 after acquiring an additional 30,817 shares during the period. Hsbc Holdings PLC lifted its holdings in Avista by 184.2% in the 4th quarter. Hsbc Holdings PLC now owns 56,881 shares of the utilities provider's stock valued at $2,190,000 after acquiring an additional 36,866 shares during the last quarter. Versor Investments LP bought a new position in shares of Avista during the 4th quarter valued at about $1,146,000. Gabelli Funds LLC boosted its position in shares of Avista by 9.0% during the 4th quarter. Gabelli Funds LLC now owns 458,300 shares of the utilities provider's stock valued at $17,663,000 after purchasing an additional 37,800 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of Avista by 570.3% in the 4th quarter. GSA Capital Partners LLP now owns 73,183 shares of the utilities provider's stock worth $2,820,000 after purchasing an additional 62,265 shares during the last quarter. Institutional investors 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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