Avista (AVA) Reaches New 52-Week Low at $43.06

Avista Corp (NYSE:AVA) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $43.06 and last traded at $43.52, with a volume of 445586 shares trading hands. The stock had previously closed at $51.39.

Separately, Guggenheim reiterated a “hold” rating and issued a $40.00 price target on shares of Avista in a research note on Friday.

The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 22.80 and a beta of 0.15. The company has a current ratio of 0.71, a quick ratio of 0.53 and a debt-to-equity ratio of 1.09.

Avista (NYSE:AVA) last released its quarterly earnings data on Wednesday, November 7th. The utilities provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). The firm had revenue of $296.00 million for the quarter. Avista had a return on equity of 7.38% and a net margin of 8.31%. Avista’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS. On average, equities research analysts forecast that Avista Corp will post 2.05 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.373 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.49 annualized dividend and a dividend yield of 3.40%. Avista’s dividend payout ratio is presently 76.41%.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Avista by 4.3% during the 3rd quarter. BlackRock Inc. now owns 11,214,220 shares of the utilities provider’s stock worth $566,992,000 after purchasing an additional 465,197 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Avista by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 7,006,076 shares of the utilities provider’s stock worth $354,227,000 after purchasing an additional 97,483 shares during the last quarter. Pentwater Capital Management LP increased its stake in shares of Avista by 37.4% during the 3rd quarter. Pentwater Capital Management LP now owns 1,367,721 shares of the utilities provider’s stock worth $69,152,000 after purchasing an additional 372,021 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Avista by 3.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,002,678 shares of the utilities provider’s stock worth $50,695,000 after purchasing an additional 32,184 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of Avista by 46.0% during the 3rd quarter. Gabelli Funds LLC now owns 659,088 shares of the utilities provider’s stock worth $33,323,000 after purchasing an additional 207,688 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

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About Avista (NYSE:AVA)

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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