Avista Corporation (NYSE:AVA) Receives Consensus Recommendation of “Hold” from Analysts

Avista Corporation (NYSE:AVA) has been given a consensus rating of “Hold” by the five analysts that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation. The average 1-year price target among brokers that have issued a report on the stock in the last year is $39.50.

Several brokerages recently issued reports on AVA. KeyCorp reaffirmed a “sector weight” rating on shares of Avista in a report on Tuesday, January 27th. Wall Street Zen downgraded shares of Avista from a “hold” rating to a “sell” rating in a research note on Saturday. Wells Fargo & Company cut their target price on shares of Avista from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. Barclays initiated coverage on shares of Avista in a research note on Monday, March 9th. They set an “equal weight” rating and a $40.00 target price on the stock. Finally, Jefferies Financial Group dropped their price target on Avista from $41.00 to $39.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th.

Insider Buying and Selling

In other Avista news, SVP Bryan Alden Cox sold 1,768 shares of the stock in a transaction dated 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 in the company, valued at approximately $337,552.18. This trade represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AVA. First Trust Advisors LP boosted its position in Avista by 359.4% during the 3rd quarter. First Trust Advisors LP now owns 1,282,508 shares of the utilities provider’s stock worth $48,492,000 after buying an additional 1,003,362 shares during the period. Norges Bank acquired a new position in Avista in the 2nd quarter valued at approximately $29,674,000. Westwood Holdings Group Inc. raised its stake in shares of Avista by 52.7% during the second quarter. Westwood Holdings Group Inc. now owns 2,110,711 shares of the utilities provider’s stock valued at $80,101,000 after acquiring an additional 728,543 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Avista by 105.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,137,236 shares of the utilities provider’s stock valued at $43,829,000 after acquiring an additional 582,742 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Avista by 37,219.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 541,136 shares of the utilities provider’s stock worth $20,855,000 after purchasing an additional 539,686 shares during the period. Institutional investors and hedge funds own 85.24% of the company’s stock.

Avista Price Performance

Shares of AVA stock opened at $39.90 on Friday. The business has a fifty day simple moving average of $40.68 and a 200 day simple moving average of $39.36. The company has a market cap of $3.28 billion, a P/E ratio of 16.77, a P/E/G ratio of 2.23 and a beta of 0.28. The company has a quick ratio of 0.56, a current ratio of 0.83 and a debt-to-equity ratio of 1.04. Avista has a twelve month low of $35.50 and a twelve month high of $43.50.

Avista (NYSE:AVA) last released its earnings results on Saturday, January 31st. The utilities provider reported $0.88 earnings per share (EPS) for the quarter. Avista had a return on equity of 7.29% and a net margin of 9.83%. On average, sell-side analysts forecast that Avista will post 2.3 EPS for the current fiscal year.

Avista Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Wednesday, February 25th were issued a $0.4925 dividend. This represents a $1.97 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Wednesday, February 25th. This is a boost from Avista’s previous quarterly dividend of $0.49. Avista’s payout ratio is currently 82.77%.

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.