Brokerages Set Avista Corporation (NYSE:AVA) Target Price at $39.25

Shares of Avista Corporation (NYSE:AVA) have been given a consensus rating of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $39.25.

Several research analysts recently commented on AVA shares. Barclays reduced their price objective on Avista from $40.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 4th. Weiss Ratings lowered shares of Avista from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, September 8th.

Insider Buying and Selling

In other Avista news, VP Joshua Diluciano sold 4,675 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $37.24, for a total value of $174,097.00. Following the completion of the sale, the vice president owned 8,334 shares in the company, valued at approximately $310,358.16. This represents a 35.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bayban purchased a new stake in shares of Avista in the fourth quarter valued at approximately $35,000. Global Retirement Partners LLC purchased a new position in Avista during the second quarter worth approximately $42,000. Northwestern Mutual Wealth Management Co. acquired a new position in Avista during the second quarter worth $58,000. Hantz Financial Services Inc. boosted its stake in Avista by 171.3% during the fourth quarter. Hantz Financial Services Inc. now owns 1,747 shares of the utilities provider’s stock worth $67,000 after buying an additional 1,103 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in Avista by 14.4% in the 4th quarter. Allworth Financial LP now owns 2,020 shares of the utilities provider’s stock valued at $78,000 after buying an additional 255 shares in the last quarter. 85.24% of the stock is currently owned by institutional investors and hedge funds.

Avista Trading Down 1.4%

Shares of Avista stock opened at $35.49 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.69 and a debt-to-equity ratio of 1.08. Avista has a twelve month low of $35.24 and a twelve month high of $43.50. The firm has a market capitalization of $2.97 billion, a PE ratio of 12.81, a P/E/G ratio of 3.42 and a beta of 0.25. The firm’s 50-day moving average price is $38.65 and its 200 day moving average price is $40.08.

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

Avista Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Tuesday, August 18th were given a dividend of $0.4925 per share. The ex-dividend date was Tuesday, August 18th. This represents a $1.97 dividend on an annualized basis and a yield of 5.6%. Avista’s payout ratio is presently 71.12%.

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.