Avista Co. (NYSE:AVA) Announces Quarterly Dividend of $0.44

Avista Co. (NYSE:AVAGet 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.

Avista (NYSE:AVAGet Rating) last posted its earnings results on Wednesday, August 3rd. The utilities provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Avista had a return on equity of 6.80% and a net margin of 9.53%. During the same quarter in the previous year, the business earned $0.20 EPS. On average, equities analysts forecast that Avista will post 1.94 EPS for the current year.

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.

About Avista

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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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Dividend History for Avista (NYSE:AVA)

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