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.
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.
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