Avista (NYSE:AVA) Sets New 12-Month Low – What’s Next?

Avista Corporation (NYSE:AVA) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $36.19 and last traded at $36.2550, with a volume of 79819 shares trading hands. The stock had previously closed at $36.76.

Analyst Ratings Changes

Several research firms recently commented on AVA. Zacks Research raised Avista from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Barclays reduced their price target on Avista from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 4th. Finally, Weiss Ratings cut Avista from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Avista currently has an average rating of “Hold” and an average price target of $39.25.

Avista Trading Down 1.2%

The firm has a market capitalization of $3.04 billion, a PE ratio of 13.10, a PEG ratio of 3.49 and a beta of 0.25. The company’s 50-day moving average price is $39.11 and its 200-day moving average price is $40.19. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.69 and a current ratio of 1.10.

Avista (NYSE:AVA) last posted its earnings results on Friday, July 31st. The utilities provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.23 by $0.20. Avista had a return on equity of 7.85% and a net margin of 11.83%.The firm had revenue of $413.00 million for the quarter, compared to analyst estimates of $426.93 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. Avista’s revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side analysts expect that Avista Corporation will post 2.55 earnings per share for the current year.

Avista Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Tuesday, August 18th were issued a $0.4925 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $1.97 dividend on an annualized basis and a dividend yield of 5.4%. Avista’s dividend payout ratio is presently 71.12%.

Insider Buying and Selling at Avista

In related news, VP Joshua Diluciano sold 4,675 shares of the business’s 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 completion of the sale, the vice president owned 8,334 shares in the company, valued at $310,358.16. The trade was a 35.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.78% of the company’s stock.

Hedge Funds Weigh In On Avista

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Avista during the 2nd quarter worth approximately $605,448,000. Geode Capital Management LLC lifted its stake in Avista by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,985,944 shares of the utilities provider’s stock valued at $76,550,000 after buying an additional 7,793 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Avista by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,516,163 shares of the utilities provider’s stock valued at $60,860,000 after acquiring an additional 4,958 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Avista in the second quarter valued at approximately $37,919,000. Finally, Algert Global LLC boosted its holdings in shares of Avista by 15.8% in the second quarter. Algert Global LLC now owns 739,725 shares of the utilities provider’s stock valued at $30,262,000 after acquiring an additional 100,918 shares during the period. 85.24% of the stock is currently owned by hedge funds and other institutional investors.

Avista Company Profile

Avista Corporation is an energy company headquartered in Spokane, Washington, operating primarily through its regulated utility businesses. Its principal subsidiary, Avista Utilities, provides electric and natural gas service to residential, commercial and industrial customers.

Avista Utilities operates electric and natural gas systems in eastern Washington and northern Idaho, as well as parts of Oregon. Through Alaska Electric Light & Power Company, Avista also provides electric service in Juneau, Alaska.