Avista Corp (NYSE:AVA) declared a quarterly dividend on Thursday, August 8th, NASDAQ reports. Stockholders of record on Thursday, August 22nd will be paid a dividend of 0.387 per share by the utilities provider on Friday, September 13th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Wednesday, August 21st.
Avista has raised its dividend payment by an average of 4.1% per year over the last three years and has increased its dividend annually for the last 16 consecutive years. Avista has a payout ratio of 75.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Avista to earn $1.98 per share next year, which means the company should continue to be able to cover its $1.55 annual dividend with an expected future payout ratio of 78.3%.
Shares of AVA stock opened at $46.35 on Tuesday. Avista has a fifty-two week low of $39.75 and a fifty-two week high of $52.70. The stock has a market cap of $3.07 billion, a P/E ratio of 21.97, a P/E/G ratio of 7.19 and a beta of 0.41. The business has a fifty day simple moving average of $45.58 and a 200-day simple moving average of $42.87. The company has a quick ratio of 0.39, a current ratio of 0.52 and a debt-to-equity ratio of 0.93.
AVA has been the subject of a number of research analyst reports. ValuEngine upgraded Avista from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Bank of America assumed coverage on Avista in a research report on Thursday, May 9th. They set an “underperform” rating and a $43.00 price objective for the company. TheStreet upgraded Avista from a “c+” rating to a “b-” rating in a research report on Monday, June 10th. Zacks Investment Research upgraded Avista from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Finally, KeyCorp reiterated an “underweight” rating and set a $35.00 price objective on shares of Avista in a research report on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Avista has an average rating of “Hold” and a consensus price target of $41.60.
In related news, Chairman Scott L. Morris sold 23,000 shares of Avista stock in a transaction dated 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 completion of the sale, the chairman now owns 198,865 shares in the company, valued at approximately $8,815,685.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Marian M. Durkin sold 10,004 shares of Avista stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $44.11, for a total value of $441,276.44. Following the sale, the insider now owns 78,451 shares of the company’s stock, valued at approximately $3,460,473.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,236 shares of company stock valued at $1,596,374. 1.10% of the stock is currently owned by company insiders.
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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