Stocks of Avista Corporation (NYSE:AVA) traded higher last session on Wall Street, up 1.75% to $44.71.
According to the data, Avista Corporation (NYSE:AVA) has 6 analysts covering its stock. The consensus rating among analysts is ‘Underweight’. As we calculate the median target price by taking the range between a high of $50.00 and a low of $32.00, we find $34.50. Given the previous closing price of $43.94, this indicates a potential downside of -21.48 percent. AVA stock price is now 10.80% away from the 50-day moving average and 6.99% away from the 200-day moving average. The market capitalization of the company currently stands at $3.22B.
A total of 2 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $37.08 as their price target over the next twelve months.
With the price target reduced from $44 to $40, Mizuho Downgraded its rating from Buy to Neutral for Avista Corporation (NYSE: AVA). On November 01, 2022, KeyBanc Capital Markets Downgraded its previous ‘Sector Weight’ rating to ‘Underweight’ on the stock keeping its target price maintained at $33, while ‘Mizuho’ rates the stock as ‘Buy’.
In other news, KENSOK JAMES M, Vice President sold 400 shares of the company’s stock on Sep 02. The stock was sold for $16,516 at an average price of $41.29. Upon completion of the transaction, the Vice President now directly owns 14,766 shares in the company, valued at $0.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 16, Vice President MEYER DAVID J sold 1,081 shares of the business’s stock. A total of $48,613 was realized by selling the stock at an average price of $44.97. This leaves the insider owning 4,664 shares of the company worth $0.21 million. Insiders disposed of 54,074 shares of company stock worth roughly $2.42 million over the past 1 year. A total of 0.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AVA stock. A new stake in Avista Corporation shares was purchased by HRT FINANCIAL LP during the first quarter worth $10,223,000. GREAT WEST LIFE ASSURANCE CO /CAN/ invested $3,759,000 in shares of AVA during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT LLC acquired a new stake in Avista Corporation valued at approximately $3,731,000. CONGRESS ASSET MANAGEMENT CO /MA acquired a new stake in AVA for approximately $3,319,000. POINT72 ASSET MANAGEMENT, L.P. purchased a new stake in AVA valued at around $2,396,000 in the second quarter. In total, there are 396 active investors with 87.20% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $44.07 for Avista Corporation (NYSE: AVA). During the past 12 months, Avista Corporation has had a low of $35.72 and a high of $46.90. As of last week, the company has a debt-to-equity ratio of 1.19, a current ratio of 0.70, and a quick ratio of 0.50. The fifty day moving average price for AVA is $40.35 and a two-hundred day moving average price translates $41.79 for the stock.
The latest earnings results from Avista Corporation (NYSE: AVA) was released for Jun, 2022. According to the Utilities – Diversified Company, earnings per share came in at $0.16, missing analysts’ expectations of $0.17 by -0.01. This compares to $0.20 EPS in the same period last year. The net profit margin was 7.80% and return on equity was 5.80% for AVA. The company reported revenue of $359.45 million for the quarter, compared to $296.01 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 21.43 percent. For the current quarter, analysts expect AVA to generate $310.24M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/15/2022. Investors who held shares on 11/18/2022 were paid a $0.44 dividend. On an annualized basis, this represents a $1.76 dividend and a 3.94% percent yield. There was an ex-dividend date of 11/17/2022 for this dividend. In terms of dividend payout ratio, AVA is presently at 97.30%.
Avista Corporation(AVA) 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. This segment also engages in the wholesale purchase and sale of electricity and natural gas. The AEL&P segment offers electric services to 17,400 customers in the city and borough of Juneau, Alaska. The company generates electricity through hydroelectric, thermal, and wind facilities. As of February 23, 2022, it provided electric service to 406,000 customers and natural gas to 372,000 customers. In addition, the company engages in venture fund investments, real estate investments, and other investments. Avista Corporation was incorporated in 1889 and is headquartered in Spokane, Washington.