Avista (NYSE:AVA) Sets New 52-Week High - Here's Why

Avista Co. (NYSE:AVA - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $40.21 and last traded at $40.16, with a volume of 437613 shares trading hands. The stock had previously closed at $39.70.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lowered their price objective on shares of Avista from $40.00 to $39.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th.

Avista Trading Up 1.7 %

The company has a debt-to-equity ratio of 1.05, a current ratio of 0.75 and a quick ratio of 0.48. The business's 50-day simple moving average is $37.41 and its two-hundred day simple moving average is $37.67. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.56 and a beta of 0.46.

Avista (NYSE:AVA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The utilities provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.02). Avista had a net margin of 10.24% and a return on equity of 7.83%. The business had revenue of $517.00 million for the quarter, compared to analyst estimates of $487.48 million. On average, research analysts anticipate that Avista Co. will post 2.3 earnings per share for the current fiscal year.

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Avista Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 26th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Wednesday, February 26th. This is a boost from Avista's previous quarterly dividend of $0.48. Avista's dividend payout ratio is currently 86.34%.

Insider Activity

In related news, VP Scott J. Kinney sold 2,298 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $38.75, for a total value of $89,047.50. Following the transaction, the vice president now owns 12,539 shares in the company, valued at approximately $485,886.25. The trade was a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.96% of the company's stock.

Institutional Investors Weigh In On Avista

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Avista by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 10,260,857 shares of the utilities provider's stock worth $375,855,000 after buying an additional 327,535 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Avista by 1.8% in the 4th quarter. Ameriprise Financial Inc. now owns 2,967,172 shares of the utilities provider's stock valued at $108,687,000 after purchasing an additional 53,222 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Avista by 1.5% during the third quarter. Geode Capital Management LLC now owns 1,828,230 shares of the utilities provider's stock worth $70,857,000 after purchasing an additional 27,328 shares during the last quarter. Invesco Ltd. grew its stake in Avista by 27.2% in the fourth quarter. Invesco Ltd. now owns 1,283,532 shares of the utilities provider's stock worth $47,016,000 after purchasing an additional 274,270 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Avista by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,253,280 shares of the utilities provider's stock worth $45,908,000 after purchasing an additional 24,981 shares in the last quarter. 85.24% of the stock is currently owned by hedge funds and other institutional investors.

Avista 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.