Avista’s (AVA) “Hold (C)” Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their hold (c) rating on shares of Avista (NYSE:AVA) in a research report sent to investors on Wednesday morning,Weiss Ratings reports.

Avista Stock Down 0.2%

Avista stock opened at $37.05 on Wednesday. The stock has a 50-day simple moving average of $36.92 and a 200-day simple moving average of $38.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.68 and a current ratio of 1.00. The company has a market capitalization of $3.01 billion, a P/E ratio of 16.69, a PEG ratio of 2.46 and a beta of 0.39. Avista has a fifty-two week low of $34.80 and a fifty-two week high of $43.09.

Avista (NYSE:AVA) last posted its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.11). The company had revenue of $400.00 million for the quarter, compared to analysts’ expectations of $416.06 million. Avista had a net margin of 9.13% and a return on equity of 6.86%. During the same period in the prior year, the company earned $0.29 earnings per share. Equities research analysts expect that Avista will post 2.3 earnings per share for the current year.

Avista Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, August 19th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $1.96 annualized dividend and a yield of 5.3%. Avista’s dividend payout ratio is currently 88.29%.

Insider Activity at Avista

In other Avista news, SVP Bryan Alden Cox bought 3,671 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was acquired at an average cost of $35.55 per share, with a total value of $130,504.05. Following the purchase, the senior vice president owned 9,989 shares in the company, valued at approximately $355,108.95. This represents a 58.10% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David J. Meyer sold 1,367 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $36.72, for a total value of $50,196.24. Following the transaction, the vice president directly owned 8,394 shares of the company’s stock, valued at approximately $308,227.68. This trade represents a 14.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Avista

Large investors have recently modified their holdings of the business. Jane Street Group LLC raised its stake in shares of Avista by 8,255.8% during the 1st quarter. Jane Street Group LLC now owns 504,354 shares of the utilities provider’s stock worth $21,117,000 after buying an additional 498,318 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Avista by 983.2% during the 1st quarter. Hsbc Holdings PLC now owns 98,649 shares of the utilities provider’s stock worth $4,088,000 after buying an additional 89,542 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Avista by 48.5% during the 1st quarter. Russell Investments Group Ltd. now owns 35,188 shares of the utilities provider’s stock worth $1,473,000 after buying an additional 11,489 shares in the last quarter. Sowell Financial Services LLC purchased a new position in shares of Avista during the 1st quarter worth approximately $331,000. Finally, American Century Companies Inc. raised its stake in shares of Avista by 39.2% during the 1st quarter. American Century Companies Inc. now owns 243,046 shares of the utilities provider’s stock worth $10,176,000 after buying an additional 68,394 shares in the last quarter. 85.24% of the stock is owned by hedge funds and other institutional investors.

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.