Barclays Initiates Coverage on Avista (NYSE:AVA)

Stock analysts at Barclays began coverage on shares of Avista (NYSE:AVA) in a note issued to investors on Monday,Benzinga reports. The firm set an “equal weight” rating and a $40.00 price target on the utilities provider’s stock. Barclays‘s price objective would indicate a potential upside of 0.76% from the stock’s current price.

A number of other research analysts have also issued reports on the company. Jefferies Financial Group decreased their target price on Avista from $41.00 to $39.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. Wells Fargo & Company decreased their price objective on Avista from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 20th. KeyCorp reissued a “sector weight” rating on shares of Avista in a research report on Tuesday, January 27th. Finally, Weiss Ratings upgraded shares of Avista from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.50.

Avista Trading Down 0.6%

NYSE AVA opened at $39.70 on Monday. The firm has a 50 day simple moving average of $40.57 and a 200-day simple moving average of $39.11. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.56 and a current ratio of 0.83. Avista has a one year low of $35.50 and a one year high of $43.50. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 2.14 and a beta of 0.28.

Avista (NYSE:AVA) last announced its earnings results on Saturday, January 31st. The utilities provider reported $0.88 earnings per share for the quarter. Avista had a net margin of 9.83% and a return on equity of 7.29%. Equities research analysts anticipate that Avista will post 2.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Bryan Alden Cox sold 1,768 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $40.18, for a total transaction of $71,038.24. Following the transaction, the senior vice president directly owned 8,401 shares in the company, valued at approximately $337,552.18. This trade represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Wayne O. Manuel sold 1,785 shares of Avista stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $38.74, for a total transaction of $69,150.90. Following the completion of the transaction, the senior vice president directly owned 9,883 shares in the company, valued at $382,867.42. The trade was a 15.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.94% of the company’s stock.

Institutional Investors Weigh In On Avista

Hedge funds have recently made changes to their positions in the business. CSM Advisors LLC purchased a new stake in shares of Avista in the second quarter valued at approximately $3,669,000. Principal Financial Group Inc. lifted its holdings in Avista by 8.0% in the third quarter. Principal Financial Group Inc. now owns 519,946 shares of the utilities provider’s stock valued at $19,659,000 after acquiring an additional 38,651 shares during the period. Inspire Advisors LLC purchased a new stake in shares of Avista during the 3rd quarter worth $1,118,000. Nuance Investments LLC increased its holdings in shares of Avista by 50.4% in the 3rd quarter. Nuance Investments LLC now owns 288,203 shares of the utilities provider’s stock valued at $10,897,000 after purchasing an additional 96,532 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Avista in the second quarter valued at about $1,745,000. Institutional investors and hedge funds own 85.24% of the company’s stock.

About Avista

Avista Corporation operates as an integrated energy company providing electric and natural gas delivery services to residential, commercial and industrial customers in the Pacific Northwest. Through its regulated utility operations, the company maintains and upgrades an extensive transmission and distribution network, delivering reliable energy to approximately 400,000 electric customers and 324,000 natural gas customers across Washington, Oregon and Idaho. In addition to its core utility business, Avista invests in owned generation assets, including hydroelectric, natural gas–fired, coal and wind facilities, to support system reliability and long-term supply planning.

Founded in 1889 as the Spokane and Inland Empire Water Power Company, the business adopted the Avista name in 1999 to reflect its growing energy portfolio and strategic focus on innovation.