Avista Co. (NYSE:AVA – Get Rating) announced a quarterly dividend on Thursday, May 12th, Zacks reports. Shareholders of record on Friday, May 27th will be given a dividend of 0.44 per share by the utilities provider on Wednesday, June 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Thursday, May 26th.
Avista has increased its dividend payment by an average of 4.3% annually over the last three years and has increased its dividend every year for the last 21 years. Avista has a dividend payout ratio of 71.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Avista to earn $2.43 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 72.4%.
AVA stock opened at $42.89 on Friday. Avista has a 52 week low of $37.73 and a 52 week high of $47.39. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 3.76 and a beta of 0.63. The firm’s 50-day moving average is $44.05 and its two-hundred day moving average is $42.71. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.05.
In related news, VP David J. Meyer sold 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $45.28, for a total transaction of $63,392.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jason R. Thackston sold 1,750 shares of the business’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $45.80, for a total transaction of $80,150.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,481 shares of company stock worth $692,691. 0.94% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC grew its position in Avista by 178.0% during the first quarter. Lazard Asset Management LLC now owns 1,540 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 986 shares in the last quarter. Covestor Ltd grew its position in Avista by 83.0% during the first quarter. Covestor Ltd now owns 2,492 shares of the utilities provider’s stock valued at $113,000 after purchasing an additional 1,130 shares in the last quarter. D.A. Davidson & CO. grew its position in Avista by 3.8% during the first quarter. D.A. Davidson & CO. now owns 6,983 shares of the utilities provider’s stock valued at $315,000 after purchasing an additional 254 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Avista during the third quarter valued at approximately $273,000. Finally, Bridgewater Associates LP purchased a new position in Avista during the first quarter valued at approximately $394,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently commented on AVA shares. StockNews.com started coverage on shares of Avista in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Mizuho started coverage on shares of Avista in a report on Thursday, March 10th. They issued a “neutral” rating and a $47.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Avista from a “sell” rating to a “hold” rating in a report on Tuesday.
About Avista (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Avista (AVA)
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