David J. Meyer Sells 1,709 Shares of Avista Corp (AVA) Stock

Avista Corp (NYSE:AVA) VP David J. Meyer sold 1,709 shares of the company’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $52.66, for a total value of $89,995.94. Following the completion of the transaction, the vice president now directly owns 5,367 shares of the company’s stock, valued at approximately $282,626.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Avista traded up $0.15, reaching $52.78, on Thursday, according to MarketBeat.com. The stock had a trading volume of 354,709 shares, compared to its average volume of 499,754. Avista Corp has a fifty-two week low of $41.21 and a fifty-two week high of $52.87. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.88. The stock has a market cap of $3.45 billion, a PE ratio of 27.03 and a beta of 0.32.

Avista (NYSE:AVA) last issued its earnings results on Wednesday, May 2nd. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.05). Avista had a return on equity of 7.25% and a net margin of 7.66%. The firm had revenue of $388.75 million during the quarter. During the same period in the previous year, the firm posted $0.96 earnings per share. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. equities research analysts expect that Avista Corp will post 2.05 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, May 25th will be issued a $0.3725 dividend. The ex-dividend date is Thursday, May 24th. This represents a $1.49 dividend on an annualized basis and a yield of 2.82%. Avista’s payout ratio is presently 76.41%.

Institutional investors and hedge funds have recently modified their holdings of the business. Prentiss Smith & Co. Inc. bought a new stake in shares of Avista in the 4th quarter valued at about $171,000. Wetherby Asset Management Inc. bought a new stake in shares of Avista in the 1st quarter valued at about $205,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Avista by 34.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,225 shares of the utilities provider’s stock valued at $218,000 after buying an additional 1,080 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Avista in the 4th quarter valued at about $247,000. Finally, Zeke Capital Advisors LLC bought a new stake in shares of Avista in the 4th quarter valued at about $250,000. 77.71% of the stock is owned by institutional investors and hedge funds.

AVA has been the subject of a number of recent research reports. Williams Capital reaffirmed a “sell” rating and issued a $40.00 target price (down previously from $42.00) on shares of Avista in a report on Thursday, February 22nd. ValuEngine raised Avista from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.67.

About Avista

Avista Corporation operates as an electric and natural gas utility company. It operates through 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.

Insider Buying and Selling by Quarter for Avista (NYSE:AVA)

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