Avista (NYSE:AVA) Now Covered by Analysts at Barclays

Barclays initiated coverage on shares of Avista (NYSE:AVA) in a research report report published on Monday morning, MarketBeat reports. The firm issued an equal weight rating and a $40.00 price objective on the utilities provider’s stock.

A number of other brokerages also recently commented on AVA. Weiss Ratings raised Avista from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 24th. KeyCorp reaffirmed a “sector weight” rating on shares of Avista in a research report on Tuesday, January 27th. Jefferies Financial Group reduced their target price on Avista from $41.00 to $39.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. Finally, Wells Fargo & Company dropped their price target on shares of Avista from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Avista has a consensus rating of “Hold” and an average target price of $39.50.

Avista Trading Up 0.0%

NYSE:AVA opened at $39.67 on Monday. The business’s 50-day moving average is $40.59 and its two-hundred day moving average is $39.13. The firm has a market capitalization of $3.26 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.14 and a beta of 0.28. Avista has a 12 month low of $35.50 and a 12 month high of $43.50. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.83 and a quick ratio of 0.56.

Avista (NYSE:AVA) last issued its quarterly earnings data on Saturday, January 31st. The utilities provider reported $0.88 earnings per share (EPS) for the quarter. Avista had a net margin of 9.83% and a return on equity of 7.29%. Research analysts predict that Avista will post 2.3 earnings per share for the current fiscal year.

Avista Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Wednesday, February 25th will be given a $0.4925 dividend. This represents a $1.97 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Wednesday, February 25th. This is an increase from Avista’s previous quarterly dividend of $0.49. Avista’s payout ratio is 82.77%.

Insider Transactions at Avista

In other news, SVP Bryan Alden Cox sold 1,768 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $40.18, for a total transaction of $71,038.24. Following the sale, the senior vice president directly owned 8,401 shares in the company, valued at approximately $337,552.18. This represents a 17.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Wayne O. Manuel sold 1,785 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $38.74, for a total value of $69,150.90. Following the transaction, the senior vice president owned 9,883 shares of the company’s stock, valued at $382,867.42. This represents a 15.30% decrease in their position. The SEC filing for this sale provides additional information. 0.94% of the stock is owned by corporate insiders.

Institutional Trading of Avista

A number of large investors have recently modified their holdings of AVA. Corient Private Wealth LLC acquired a new position in Avista during the 4th quarter valued at about $208,000. Hsbc Holdings PLC raised its holdings in shares of Avista by 184.2% during the fourth quarter. Hsbc Holdings PLC now owns 56,881 shares of the utilities provider’s stock valued at $2,190,000 after buying an additional 36,866 shares during the last quarter. Bayban acquired a new position in shares of Avista during the fourth quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd grew its holdings in Avista by 1,502.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,789 shares of the utilities provider’s stock worth $107,000 after buying an additional 2,615 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Avista in the 4th quarter valued at approximately $371,000. Institutional investors and hedge funds own 85.24% of the company’s stock.

About Avista

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.