Avista Co. (NYSE:AVA – Get Rating) declared a quarterly dividend on Thursday, August 4th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Thursday, August 18th.
Avista has a payout ratio of 71.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 2.2 %
Avista stock opened at $42.07 on Friday. The firm has a 50-day moving average of $42.14 and a 200-day moving average of $43.33. Avista has a one year low of $37.73 and a one year high of $46.90. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.75 and a quick ratio of 0.81. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 3.77 and a beta of 0.53.
In other news, Chairman Scott L. Morris sold 7,627 shares of the company’s 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 sale, the chairman now directly owns 130,398 shares of the company’s stock, valued at approximately $5,737,512. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.94% of the stock is owned by insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Allianz Asset Management GmbH raised its holdings in Avista by 22.0% in the 1st quarter. Allianz Asset Management GmbH now owns 31,645 shares of the utilities provider’s stock valued at $1,429,000 after acquiring an additional 5,711 shares during the period. Guggenheim Capital LLC raised its holdings in Avista by 9.4% in the 1st quarter. Guggenheim Capital LLC now owns 27,434 shares of the utilities provider’s stock valued at $1,239,000 after acquiring an additional 2,354 shares during the period. Natixis Advisors L.P. raised its holdings in Avista by 14.2% in the 1st quarter. Natixis Advisors L.P. now owns 21,371 shares of the utilities provider’s stock valued at $965,000 after acquiring an additional 2,657 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Avista in the 1st quarter valued at about $862,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Avista during the first quarter worth approximately $754,000. 82.47% of the stock is owned by institutional investors.
Analyst Ratings Changes
Separately, Mizuho upped their target price on shares of Avista from $43.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, June 29th.
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.
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