Avista (NYSE:AVA) Hits New 1-Year High – Here’s What Happened

Shares of Avista Co. (NYSE:AVA) hit a new 52-week high during trading on Monday . The stock traded as high as $40.21 and last traded at $40.16, with a volume of 437613 shares changing hands. The stock had previously closed at $39.70.

Analyst Ratings Changes

Separately, Jefferies Financial Group lowered their target price on shares of Avista from $40.00 to $39.00 and set a “hold” rating for the company in a report on Tuesday, January 28th.

Avista Price Performance

The business’s fifty day moving average is $37.31 and its 200-day moving average is $37.65. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.75 and a quick ratio of 0.48. The firm has a market cap of $3.15 billion, a PE ratio of 15.68, a P/E/G ratio of 2.56 and a beta of 0.46.

Avista (NYSE:AVA) last posted its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Avista had a return on equity of 7.83% and a net margin of 10.24%. The company had revenue of $517.00 million for the quarter, compared to analysts’ expectations of $487.48 million. On average, research analysts predict that Avista Co. will post 2.3 earnings per share for the current fiscal year.

Avista Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from Avista’s previous quarterly dividend of $0.48. Avista’s dividend payout ratio (DPR) is 86.34%.

Insider Transactions at Avista

In other news, VP Scott J. Kinney sold 2,298 shares of Avista stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $38.75, for a total value of $89,047.50. Following the completion of the transaction, the vice president now owns 12,539 shares in the company, valued at $485,886.25. This trade represents a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Avista

Large investors have recently modified their holdings of the business. Headlands Technologies LLC increased its stake in shares of Avista by 2,474.1% in the fourth quarter. Headlands Technologies LLC now owns 695 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 668 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Avista in the third quarter worth about $29,000. Smartleaf Asset Management LLC boosted its position in shares of Avista by 117.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 858 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 464 shares during the period. Allworth Financial LP boosted its position in shares of Avista by 296.7% in the fourth quarter. Allworth Financial LP now owns 956 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 715 shares during the period. Finally, SRS Capital Advisors Inc. boosted its position in shares of Avista by 45.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,462 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 456 shares during the period. Hedge funds and other institutional investors own 85.24% of the company’s stock.

About Avista

Avista Corporation, together with its subsidiaries, operates as an electric and natural gas utility company. It operates in two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.