Avista (NYSE:AVA) Sets New 52-Week High – What’s Next?

Shares of Avista Corporation (NYSE:AVA) reached a new 52-week high on Friday . The company traded as high as $43.14 and last traded at $43.1050, with a volume of 117257 shares trading hands. The stock had previously closed at $42.39.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Mizuho set a $42.00 target price on shares of Avista in a report on Thursday, November 6th. Wells Fargo & Company decreased their price objective 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. Weiss Ratings restated a “hold (c+)” rating on shares of Avista in a research report on Monday, December 29th. Jefferies Financial Group cut their target price on Avista from $41.00 to $39.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Finally, KeyCorp reissued a “sector weight” rating on shares of Avista in a research note on Tuesday, January 27th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.33.

Avista Stock Up 1.6%

The business’s fifty day moving average price is $39.64 and its two-hundred day moving average price is $38.64. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.60 and a current ratio of 0.91. The firm has a market capitalization of $3.50 billion, a P/E ratio of 18.29, a PEG ratio of 2.14 and a beta of 0.28.

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 paid a dividend of $0.4925 per share. The ex-dividend date is Wednesday, February 25th. This is a positive change from Avista’s previous quarterly dividend of $0.49. This represents a $1.97 dividend on an annualized basis and a dividend yield of 4.6%. Avista’s payout ratio is presently 83.83%.

Insiders Place Their Bets

In other Avista news, SVP Wayne O. Manuel sold 1,785 shares of the company’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 transaction of $69,150.90. Following the transaction, the senior vice president owned 9,883 shares in the company, valued at approximately $382,867.42. This represents a 15.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

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