Avista Co. (NYSE:AVA – Get Rating) announced a quarterly dividend on Thursday, August 4th, Zacks reports. Shareholders of record on Friday, August 19th will be given a dividend of 0.44 per share by the utilities provider on Thursday, September 15th. This represents a $1.76 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Thursday, August 18th.
Avista has a payout ratio of 71.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Avista to earn $2.47 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 71.3%.
Avista Stock Performance
NYSE AVA opened at $42.07 on Friday. The company has a 50-day simple moving average of $42.14 and a two-hundred day simple moving average of $43.33. The company has a quick ratio of 0.81, a current ratio of 0.75 and a debt-to-equity ratio of 1.05. Avista has a 12-month low of $37.73 and a 12-month high of $46.90. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 3.77 and a beta of 0.53.
Insider Transactions at Avista
In related news, Chairman Scott L. Morris sold 7,627 shares of the stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $44.00, for a total value of $335,588.00. Following the completion of the transaction, the chairman now directly owns 130,398 shares of the company’s stock, valued at $5,737,512. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.94% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Avista
A number of institutional investors have recently bought and sold shares of the stock. State Street Corp increased its stake in shares of Avista by 27.0% during the first quarter. State Street Corp now owns 3,311,667 shares of the utilities provider’s stock valued at $149,522,000 after purchasing an additional 704,947 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Avista by 1.7% during the first quarter. Vanguard Group Inc. now owns 8,373,667 shares of the utilities provider’s stock valued at $378,072,000 after purchasing an additional 142,693 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Avista by 298.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 96,642 shares of the utilities provider’s stock valued at $4,363,000 after purchasing an additional 72,389 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of Avista during the first quarter valued at approximately $2,508,000. Finally, Yaupon Capital Management LP bought a new stake in shares of Avista during the first quarter valued at approximately $2,388,000. 82.47% of the stock is owned by institutional investors.
Analyst Ratings Changes
Separately, Mizuho increased their target price on shares of Avista from $43.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, June 29th.
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.
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