Avista (NYSE:AVA) Downgraded to Sell at StockNews.com

StockNews.com lowered shares of Avista (NYSE:AVAGet Rating) from a hold rating to a sell rating in a report released on Tuesday.

Several other analysts have also commented on the company. KeyCorp lowered Avista from a sector weight rating to an underweight rating and set a $33.00 price target on the stock. in a research note on Tuesday, November 1st. Guggenheim decreased their price target on Avista from $34.00 to $33.00 in a research note on Monday, October 24th. Finally, Mizuho lowered Avista from a buy rating to a neutral rating and decreased their price target for the company from $44.00 to $40.00 in a research note on Wednesday, November 2nd.

Avista Price Performance

Shares of NYSE:AVA opened at $39.85 on Tuesday. Avista has a 1-year low of $35.72 and a 1-year high of $46.90. The firm has a market capitalization of $2.94 billion, a PE ratio of 22.39, a PEG ratio of 3.99 and a beta of 0.58. The business’s 50 day moving average is $38.75 and its 200-day moving average is $41.12. The company has a current ratio of 0.68, a quick ratio of 0.50 and a debt-to-equity ratio of 1.04.

Avista (NYSE:AVAGet Rating) last announced its quarterly earnings data on Tuesday, November 1st. The utilities provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.32). Avista had a return on equity of 5.78% and a net margin of 7.91%. During the same period last year, the business posted $0.20 EPS. Sell-side analysts predict that Avista will post 1.9 earnings per share for the current year.

Avista Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 18th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, November 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.42%. Avista’s payout ratio is currently 98.88%.

Institutional Investors Weigh In On Avista

A number of institutional investors and hedge funds have recently made changes to their positions in AVA. Truist Financial Corp raised its position in shares of Avista by 25.0% during the first quarter. Truist Financial Corp now owns 9,057 shares of the utilities provider’s stock worth $408,000 after acquiring an additional 1,810 shares during the last quarter. Arizona State Retirement System raised its position in shares of Avista by 2.0% during the first quarter. Arizona State Retirement System now owns 19,130 shares of the utilities provider’s stock worth $864,000 after acquiring an additional 379 shares during the last quarter. Versor Investments LP raised its position in shares of Avista by 45.9% during the first quarter. Versor Investments LP now owns 9,529 shares of the utilities provider’s stock worth $430,000 after acquiring an additional 3,000 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Avista by 7.4% during the first quarter. Commonwealth Equity Services LLC now owns 42,079 shares of the utilities provider’s stock worth $1,899,000 after acquiring an additional 2,883 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Avista by 4.8% during the first quarter. New York State Common Retirement Fund now owns 52,366 shares of the utilities provider’s stock worth $2,364,000 after acquiring an additional 2,394 shares during the last quarter. Institutional investors own 83.39% of the company’s stock.

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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