Avista Co. (NYSE:AVA – Get Rating) announced a quarterly dividend on Thursday, May 12th, Zacks reports. Shareholders of record on Friday, May 27th will be given a dividend of 0.44 per share by the utilities provider on Wednesday, June 15th. This represents a $1.76 annualized dividend and a yield of 4.10%. The ex-dividend date is Thursday, May 26th.
Avista has increased its dividend by an average of 4.3% per year over the last three years and has increased its dividend every year for the last 21 years. Avista has a payout ratio of 71.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Avista to earn $2.43 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 72.4%.
AVA stock opened at $42.89 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 3.76 and a beta of 0.63. Avista has a 12 month low of $37.73 and a 12 month high of $47.39. The firm has a 50 day moving average of $44.05 and a two-hundred day moving average of $42.71.
AVA has been the subject of a number of analyst reports. Mizuho initiated coverage on shares of Avista in a research note on Thursday, March 10th. They issued a “neutral” rating and a $47.00 price objective for the company. Zacks Investment Research upgraded shares of Avista from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, StockNews.com assumed coverage on shares of Avista in a research note on Thursday, March 31st. They issued a “hold” rating for the company.
In other Avista news, SVP Jason R. Thackston sold 1,750 shares of the business’s stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $45.80, for a total value of $80,150.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Bryan Alden Cox sold 2,381 shares of the business’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $44.29, for a total transaction of $105,454.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,481 shares of company stock valued at $692,691. Corporate insiders own 0.94% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Avista by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 8,373,667 shares of the utilities provider’s stock worth $378,072,000 after purchasing an additional 142,693 shares during the last quarter. Morgan Stanley grew its holdings in shares of Avista by 22.1% in the 2nd quarter. Morgan Stanley now owns 429,241 shares of the utilities provider’s stock worth $18,315,000 after purchasing an additional 77,787 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Avista by 298.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 96,642 shares of the utilities provider’s stock worth $4,363,000 after purchasing an additional 72,389 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Avista by 270.2% in the 4th quarter. Sei Investments Co. now owns 94,618 shares of the utilities provider’s stock worth $4,021,000 after purchasing an additional 69,059 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Avista by 24.8% in the 4th quarter. Parametric Portfolio Associates LLC now owns 257,596 shares of the utilities provider’s stock worth $10,945,000 after purchasing an additional 51,149 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.
About Avista (Get Rating)
Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.
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