Avista Corporation (NYSE:AVA) Stock Has Consensus Price Target of $38.75 According to Analysts

Avista Corporation (NYSE:AVA) has received an average rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $38.75.

Several research analysts recently weighed in on the company. Weiss Ratings cut Avista from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 9th. Barclays decreased their price target on Avista from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, October 9th.

Avista Stock Performance

Shares of Avista stock traded up $0.54 on Friday, reaching $40.83. 851,188 shares of the stock were exchanged, compared to its average volume of 815,318. The company has a quick ratio of 0.59, a current ratio of 0.96 and a debt-to-equity ratio of 1.07. Avista has a twelve month low of $34.46 and a twelve month high of $43.50. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 4.37 and a beta of 0.22. The business has a 50 day moving average price of $37.03 and a two-hundred day moving average price of $39.71.

Avista (NYSE:AVA) last issued its earnings results on Wednesday, November 4th. The utilities provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). Avista had a net margin of 12.75% and a return on equity of 7.87%. The firm had revenue of $421.00 million during the quarter, compared to analysts’ expectations of $425.52 million. Analysts anticipate that Avista will post 2.61 earnings per share for the current fiscal year.

Avista Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Tuesday, November 24th will be given a dividend of $0.4925 per share. The ex-dividend date is Tuesday, November 24th. This represents a $1.97 dividend on an annualized basis and a dividend yield of 4.8%. Avista’s dividend payout ratio (DPR) is 66.11%.

Insiders Place Their Bets

In other Avista news, VP Joshua Diluciano sold 4,675 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $37.24, for a total transaction of $174,097.00. Following the transaction, the vice president owned 8,334 shares in the company, valued at approximately $310,358.16. This represents a 35.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new position in shares of Avista during the second quarter valued at approximately $42,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Avista in the second quarter valued at approximately $58,000. Compass Financial Management LLC acquired a new stake in shares of Avista in the second quarter worth approximately $86,000. EverSource Wealth Advisors LLC boosted its stake in shares of Avista by 22.1% in the first quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the utilities provider’s stock worth $112,000 after acquiring an additional 503 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Avista by 118.0% during the third quarter. Versant Capital Management Inc now owns 3,411 shares of the utilities provider’s stock worth $120,000 after buying an additional 1,846 shares in the last quarter. 85.24% of the stock is owned by hedge funds and other institutional investors.

About Avista

Avista Corporation is an energy company whose principal business is providing regulated electric and natural gas service through Avista Utilities. Its operations include generating, transmitting and distributing electricity, as well as distributing natural gas to residential, commercial and industrial customers. Avista serves communities in eastern Washington and northern Idaho, along with parts of Oregon. The company also owns Alaska Electric Light and Power, which provides electric service in Juneau and nearby communities.