Avista (NYSE:AVA) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Avista (NYSE:AVA) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on the company. Wall Street Zen lowered Avista from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. KeyCorp restated a “sector weight” rating on shares of Avista in a research report on Tuesday, January 27th. Jefferies Financial Group lowered their price objective on Avista from $41.00 to $39.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. Wells Fargo & Company dropped their target price on Avista from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. Finally, Weiss Ratings cut Avista from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $39.50.

Avista Stock Up 1.5%

Shares of NYSE:AVA opened at $41.31 on Tuesday. The company’s fifty day moving average is $40.71 and its two-hundred day moving average is $39.48. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.56 and a current ratio of 0.83. Avista has a 1-year low of $35.50 and a 1-year high of $43.50. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 2.25 and a beta of 0.23.

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

Avista Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Wednesday, February 25th were issued a dividend of $0.4925 per share. This represents a $1.97 dividend on an annualized basis and a dividend yield of 4.8%. This is a boost from Avista’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Wednesday, February 25th. Avista’s dividend payout ratio is presently 82.77%.

Insider Activity

In related 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 value of $71,038.24. Following the completion of the transaction, the senior vice president directly owned 8,401 shares of the company’s stock, valued at $337,552.18. This represents a 17.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.96% of the company’s stock.

Institutional Trading of Avista

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in shares of Avista by 5.3% in the first quarter. Royal Bank of Canada now owns 65,494 shares of the utilities provider’s stock worth $2,741,000 after purchasing an additional 3,296 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Avista by 11.1% during the first quarter. AQR Capital Management LLC now owns 69,831 shares of the utilities provider’s stock valued at $2,924,000 after purchasing an additional 6,967 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Avista during the first quarter valued at about $201,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Avista by 26.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 283,182 shares of the utilities provider’s stock worth $11,857,000 after purchasing an additional 58,504 shares during the period. Finally, Strs Ohio acquired a new stake in Avista in the first quarter worth about $134,000. Institutional investors own 85.24% of the company’s stock.

Avista Company Profile

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.