Avista (NYSE:AVA) Reaches New 1-Year High – Time to Buy?

Avista Co. (NYSE:AVA)’s stock price reached a new 52-week high on Monday . The company 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 decreased their target price on shares of Avista from $40.00 to $39.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th.

Avista Stock Down 0.2 %

The company has a market cap of $3.18 billion, a PE ratio of 15.78, a PEG ratio of 2.56 and a beta of 0.46. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.48 and a current ratio of 0.75. The firm has a fifty day simple moving average of $37.20 and a 200 day simple moving average of $37.64.

Avista (NYSE:AVA) last posted its earnings results 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 business had revenue of $517.00 million for the quarter, compared to analyst estimates of $487.48 million. Equities research analysts predict that Avista Co. will post 2.3 EPS for the current year.

Avista Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 26th will be issued a $0.49 dividend. The ex-dividend date is Wednesday, February 26th. This is a boost from Avista’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a yield of 4.95%. Avista’s dividend payout ratio is currently 86.34%.

Insider Transactions at Avista

In other news, VP Scott J. Kinney sold 2,298 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $38.75, for a total value of $89,047.50. Following the completion of the sale, the vice president now directly owns 12,539 shares in the company, valued at approximately $485,886.25. The trade was a 15.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.96% of the company’s stock.

Institutional Trading of Avista

Institutional investors have recently added to or reduced their stakes in the business. Challenger Wealth Management acquired a new stake in Avista during the fourth quarter worth about $238,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Avista by 6.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 224,678 shares of the utilities provider’s stock worth $8,230,000 after purchasing an additional 13,415 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Avista by 29.6% in the 4th quarter. Two Sigma Advisers LP now owns 148,300 shares of the utilities provider’s stock worth $5,432,000 after purchasing an additional 33,900 shares during the last quarter. State of Wyoming boosted its position in Avista by 158.9% during the 4th quarter. State of Wyoming now owns 7,257 shares of the utilities provider’s stock valued at $266,000 after purchasing an additional 4,454 shares during the period. Finally, ProShare Advisors LLC grew its stake in Avista by 16.5% during the 4th quarter. ProShare Advisors LLC now owns 230,045 shares of the utilities provider’s stock worth $8,427,000 after buying an additional 32,515 shares during the last quarter. Institutional investors own 85.24% of the company’s stock.

Avista Company Profile

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.