Avista Co. (NYSE:AVA – Get Free Report) saw a significant growth in short interest in January. As of January 15th, there was short interest totalling 2,950,000 shares, a growth of 8.1% from the December 31st total of 2,730,000 shares. Based on an average daily trading volume, of 498,700 shares, the short-interest ratio is presently 5.9 days.
Analyst Ratings Changes
Separately, Jefferies Financial Group reduced their price objective on Avista from $40.00 to $39.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th.
Check Out Our Latest Stock Analysis on AVA
Avista Price Performance
Avista (NYSE:AVA – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.13 by $0.10. The business had revenue of $383.70 million during the quarter, compared to analyst estimates of $389.29 million. Avista had a return on equity of 7.83% and a net margin of 10.24%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. As a group, equities analysts predict that Avista will post 2.3 earnings per share for the current year.
Avista Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th were issued a dividend of $0.475 per share. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $1.90 annualized dividend and a dividend yield of 5.23%. Avista’s payout ratio is 75.70%.
Institutional Investors Weigh In On Avista
Hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Wealth Management L.L.C. bought a new position in Avista during the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new position in shares of Avista in the third quarter worth approximately $29,000. Allworth Financial LP boosted its stake in shares of Avista by 296.7% during the 4th quarter. Allworth Financial LP now owns 956 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 715 shares during the last quarter. Versant Capital Management Inc lifted its position in Avista by 43.0% during the fourth quarter. Versant Capital Management Inc now owns 1,723 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 518 shares in the last quarter. Finally, Eastern Bank grew its stake in shares of Avista by 309.3% during the 4th quarter. Eastern Bank now owns 1,842 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 1,392 shares during the period. 85.24% of the stock is owned by institutional investors.
About Avista
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.
Further Reading
- Five stocks we like better than Avista
- How to Use the MarketBeat Stock Screener
- 2 Solar Stocks Heating Up for a Major Industry Rebound
- What Are Treasury Bonds?
- Gold Stocks Shine as Prices Hit Record Highs—Top 3 Picks
- Canadian Penny Stocks: Can They Make You Rich?
- Ally Financial: The Tugboat of Auto Finance Keeps Gaining Steam
Receive News & Ratings for Avista Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avista and related companies with MarketBeat.com's FREE daily email newsletter.