Avista Corp (NYSE:AVA) Chairman Scott L. Morris Sells 23,000 Shares

Avista Corp (NYSE:AVA) Chairman Scott L. Morris sold 23,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $44.33, for a total transaction of $1,019,590.00. Following the sale, the chairman now owns 198,865 shares of the company’s stock, valued at $8,815,685.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of NYSE AVA traded up $0.13 during trading on Friday, reaching $44.06. The stock had a trading volume of 22,004 shares, compared to its average volume of 475,676. Avista Corp has a one year low of $39.75 and a one year high of $52.91. The company has a current ratio of 0.64, a quick ratio of 0.54 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 7.12 and a beta of 0.41.

Avista (NYSE:AVA) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.31). Avista had a net margin of 14.26% and a return on equity of 6.48%. The firm had revenue of $377.70 million during the quarter. During the same period last year, the business earned $0.83 EPS. The company’s revenue was down 2.8% on a year-over-year basis. As a group, equities analysts predict that Avista Corp will post 1.9 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 23rd will be issued a $0.3875 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.52%. Avista’s dividend payout ratio (DPR) is 73.46%.

Several research firms recently commented on AVA. KeyCorp reissued an “underweight” rating and set a $35.00 price target on shares of Avista in a research report on Wednesday, June 5th. Zacks Investment Research raised Avista from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Bank of America started coverage on Avista in a research report on Thursday, May 9th. They issued an “underperform” rating and a $43.00 target price on the stock. Finally, TheStreet raised Avista from a “c+” rating to a “b-” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $39.25.

A number of institutional investors and hedge funds have recently modified their holdings of AVA. Oregon Public Employees Retirement Fund bought a new position in Avista during the 4th quarter worth $25,000. Acadian Asset Management LLC bought a new position in Avista during the 1st quarter worth $40,892,000. BlackRock Inc. grew its stake in Avista by 8.1% during the 1st quarter. BlackRock Inc. now owns 12,524,697 shares of the utilities provider’s stock worth $508,754,000 after buying an additional 938,978 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in Avista during the 1st quarter worth $27,001,000. Finally, Norges Bank bought a new position in Avista during the 4th quarter worth $25,267,000. Hedge funds and other institutional investors own 78.62% of the company’s stock.

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Avista Company Profile

Avista Corporation operates as an electric and natural gas utility company. It operates through 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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