Avista (NYSE:AVA) Reaches New 12-Month High – What’s Next?

Avista Co. (NYSE:AVA)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $40.17 and last traded at $39.89, with a volume of 184620 shares. The stock had previously closed at $38.16.

Analyst Ratings Changes

Separately, Jefferies Financial Group decreased their price objective on Avista from $40.00 to $39.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th.

Avista Stock Up 4.5 %

The stock’s fifty day simple moving average is $36.62 and its 200-day simple moving average is $37.55. The stock has a market cap of $3.16 billion, a P/E ratio of 15.84, a P/E/G ratio of 2.56 and a beta of 0.49. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.48 and a current ratio of 0.75.

Avista (NYSE:AVA) last issued its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.02). Avista had a net margin of 10.24% and a return on equity of 7.83%. As a group, research analysts forecast that Avista Co. will post 2.3 earnings per share for the current fiscal 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 given a $0.49 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.92%. This is a boost from Avista’s previous quarterly dividend of $0.48. Avista’s dividend payout ratio (DPR) is presently 78.09%.

Institutional Investors Weigh In On Avista

Several institutional investors and hedge funds have recently bought and sold shares of AVA. Algert Global LLC raised its position in shares of Avista by 202.2% in the 3rd quarter. Algert Global LLC now owns 57,617 shares of the utilities provider’s stock valued at $2,233,000 after buying an additional 38,550 shares in the last quarter. Principal Financial Group Inc. raised its position in Avista by 9.0% during the third quarter. Principal Financial Group Inc. now owns 420,527 shares of the utilities provider’s stock valued at $16,295,000 after purchasing an additional 34,829 shares in the last quarter. Geode Capital Management LLC raised its position in Avista by 1.5% during the third quarter. Geode Capital Management LLC now owns 1,828,230 shares of the utilities provider’s stock valued at $70,857,000 after purchasing an additional 27,328 shares in the last quarter. A. D. Beadell Investment Counsel Inc. bought a new stake in Avista during the fourth quarter worth $1,340,000. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Avista in the 4th quarter valued at $1,672,000. Institutional investors own 85.24% of the company’s stock.

About Avista

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.