According to Zacks, “Avista Corp. is a diversified energy company with utility and subsidiary operations located throughout North America. Avista Corp. also operates Avista Capital, which owns all the company’s non-regulated energy and non-energy businesses. Avista Capital companies include Avista Energy, Avista Energy Canada, Ltd., Avista Power, Avista Advantage, Avista Labs, Avista Fiber, Avista Communiations, Avista Development and Pentzer Corporation. (PRESS RELEASE) “
AVA has been the topic of a number of other research reports. Williams Capital lifted their price target on shares of Avista Corp. from $38.00 to $40.00 and gave the company a hold rating in a research note on Thursday, September 22nd. BMO Capital Markets reaffirmed a hold rating and issued a $42.00 price target on shares of Avista Corp. in a research note on Wednesday, June 22nd.
Avista Corp. (NYSE:AVA) opened at 39.81 on Tuesday. The stock’s 50 day moving average is $41.20 and its 200 day moving average is $41.59. Avista Corp. has a 52 week low of $32.61 and a 52 week high of $45.22. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 18.33 and a beta of 0.40.
Avista Corp. (NYSE:AVA) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.02. The firm had revenue of $234.79 million for the quarter, compared to analyst estimates of $316.24 million. Avista Corp. had a net margin of 9.38% and a return on equity of 8.32%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS. Equities research analysts expect that Avista Corp. will post $2.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $0.3425 dividend. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Tuesday, August 30th. Avista Corp.’s dividend payout ratio is presently 64.02%.
In other news, SVP Jason R. Thackston sold 950 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $40.90, for a total value of $38,855.00. Following the sale, the senior vice president now owns 17,232 shares of the company’s stock, valued at $704,788.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Marian M. Durkin sold 3,500 shares of the business’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $42.56, for a total transaction of $148,960.00. Following the completion of the sale, the insider now directly owns 67,245 shares in the company, valued at approximately $2,861,947.20. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Avista Corp. by 10.9% in the second quarter. Vanguard Group Inc. now owns 6,029,702 shares of the company’s stock worth $270,130,000 after buying an additional 593,353 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Avista Corp. by 6.1% in the second quarter. BlackRock Fund Advisors now owns 7,179,309 shares of the company’s stock worth $321,633,000 after buying an additional 413,934 shares in the last quarter. Hillcrest Asset Management LLC acquired a new stake in shares of Avista Corp. during the first quarter worth approximately $9,180,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Avista Corp. by 57.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 424,797 shares of the company’s stock worth $19,032,000 after buying an additional 155,767 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Avista Corp. by 70.2% in the first quarter. Prudential Financial Inc. now owns 246,330 shares of the company’s stock worth $10,045,000 after buying an additional 101,600 shares in the last quarter. 68.07% of the stock is currently owned by institutional investors and hedge funds.
About Avista Corp.
Avista Corporation is an electric and natural gas utility with certain other business ventures. The Company operates through two business segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). Avista Utilities segment generates, transmits and distributes electricity, and distributes natural gas serving electric and natural gas customers in eastern Washington and northern Idaho and natural gas customers in parts of Oregon.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Avista Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avista Corp. and related companies with MarketBeat.com's FREE daily email newsletter.