Avista (NYSE:AVA) Sets New 12-Month Low - What's Next?

Key Points

• Avista shares hit a new 52-week low, trading as low as $35.24 and closing near $35.49, below both its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: the consensus rating is “Hold”, with six Hold ratings and one Buy rating, while the average price target is $39.25 after Barclays lowered its target to $37.
• Avista reported quarterly EPS of $0.43, well above the $0.23 analyst estimate, and maintains an annualized dividend of $1.97 per share, yielding approximately 5.6%.

Avista Corporation (NYSE:AVA - Get Free Report)'s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $35.24 and last traded at $35.49, with a volume of 763478 shares trading hands. The stock had previously closed at $36.00.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Barclays decreased their price target on shares of Avista from $40.00 to $37.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 4th. Weiss Ratings lowered Avista from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, September 8th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $39.25.

Avista Trading Down 1.4%

The firm's 50-day moving average price is $38.65 and its 200 day moving average price is $40.08. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 12.81, a P/E/G ratio of 3.42 and a beta of 0.25. The company has a current ratio of 1.10, a quick ratio of 0.69 and a debt-to-equity ratio of 1.08.

Avista (NYSE:AVA - Get Free Report) last released its earnings results on Friday, July 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.20. Avista had a net margin of 11.83% and a return on equity of 7.85%. The company had revenue of $413.00 million for the quarter, compared to the consensus estimate of $426.93 million. During the same quarter in the previous year, the company earned $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 Corporation will post 2.55 EPS for the current year.

Avista Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Tuesday, August 18th were paid a dividend of $0.4925 per share. This represents a $1.97 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Tuesday, August 18th. Avista's dividend payout ratio is 71.12%.

Insider Transactions at Avista

In other Avista news, VP Joshua Diluciano sold 4,675 shares of the business's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $37.24, for a total transaction of $174,097.00. Following the completion of the sale, the vice president owned 8,334 shares in the company, valued at approximately $310,358.16. The trade was a 35.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.78% of the company's stock.

Institutional Trading of Avista

Several institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC lifted its holdings in shares of Avista by 56.5% in the second quarter. Integrated Wealth Concepts LLC now owns 10,591 shares of the utilities provider's stock valued at $433,000 after purchasing an additional 3,823 shares in the last quarter. IFP Advisors Inc grew its holdings in Avista by 47.9% during the second quarter. IFP Advisors Inc now owns 4,225 shares of the utilities provider's stock worth $173,000 after buying an additional 1,369 shares in the last quarter. Allworth Financial LP grew its holdings in Avista by 75.5% during the second quarter. Allworth Financial LP now owns 3,938 shares of the utilities provider's stock worth $161,000 after buying an additional 1,694 shares in the last quarter. Arizona State Retirement System raised its position in Avista by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 22,775 shares of the utilities provider's stock valued at $932,000 after buying an additional 419 shares during the last quarter. Finally, Nykredit A S bought a new position in shares of Avista during the second quarter valued at about $259,000. 85.24% of the stock is owned by hedge funds and other institutional investors.

About Avista

Avista Corporation is an energy company headquartered in Spokane, Washington, operating primarily through its regulated utility businesses. Its principal subsidiary, Avista Utilities, provides electric and natural gas service to residential, commercial and industrial customers.

Avista Utilities operates electric and natural gas systems in eastern Washington and northern Idaho, as well as parts of Oregon. Through Alaska Electric Light & Power Company, Avista also provides electric service in Juneau, Alaska.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.