Avista Co. (NYSE:AVA – Get Rating) declared a quarterly dividend on Thursday, May 12th, Zacks reports. Stockholders 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 dividend yield of 4.10%. The ex-dividend date of this dividend is Thursday, May 26th.
Avista has increased its dividend payment by an average of 4.3% annually over the last three years and has raised 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. Equities 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 opened at $42.89 on Friday. Avista has a 52-week low of $37.73 and a 52-week high of $47.39. 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 cap of $3.11 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 3.76 and a beta of 0.63. The firm’s 50-day moving average price is $44.05 and its 200-day moving average price is $42.71.
In other news, VP Bryan Alden Cox sold 2,381 shares of the stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $44.29, for a total transaction of $105,454.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Scott L. Morris sold 9,000 shares of the stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $44.49, for a total value of $400,410.00. The disclosure for this sale can be found here. Insiders have sold a total of 15,481 shares of company stock worth $692,691 in the last quarter. Insiders own 0.94% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC increased its stake in shares of Avista by 178.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,540 shares of the utilities provider’s stock worth $69,000 after acquiring an additional 986 shares during the last quarter. Covestor Ltd increased its position in shares of Avista by 83.0% during the 1st quarter. Covestor Ltd now owns 2,492 shares of the utilities provider’s stock worth $113,000 after purchasing an additional 1,130 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Avista during the 3rd quarter worth about $273,000. D.A. Davidson & CO. increased its position in shares of Avista by 3.8% during the 1st quarter. D.A. Davidson & CO. now owns 6,983 shares of the utilities provider’s stock worth $315,000 after purchasing an additional 254 shares during the last quarter. Finally, Bridgewater Associates LP acquired a new stake in shares of Avista during the 1st quarter worth about $394,000. Institutional investors own 82.47% of the company’s stock.
AVA has been the topic of several research reports. Mizuho started coverage on shares of Avista in a report on Thursday, March 10th. They issued a “neutral” rating and a $47.00 price target on the stock. StockNews.com started coverage on Avista in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research upgraded Avista from a “sell” rating to a “hold” rating in a research report on Tuesday.
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.
- Get a free copy of the StockNews.com research report on Avista (AVA)
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