Avista Corporation (NYSE:AVA) Raises Dividend to $0.49 Per Share

Avista Corporation (NYSE:AVA) announced a quarterly dividend on Monday, February 9th. Investors of record on Wednesday, February 25th will be paid a dividend of 0.4925 per share by the utilities provider on Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Wednesday, February 25th. This is a 0.5% increase from Avista’s previous quarterly dividend of $0.49.

Avista has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 23 consecutive years. Avista has a dividend payout ratio of 71.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Avista to earn $2.53 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 77.5%.

Avista Stock Down 0.0%

Shares of NYSE:AVA opened at $41.49 on Tuesday. The business’s 50 day moving average is $39.48 and its 200 day moving average is $38.56. The stock has a market cap of $3.38 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 2.13 and a beta of 0.28. Avista has a 52-week low of $35.50 and a 52-week high of $43.09. The company has a quick ratio of 0.60, a current ratio of 0.91 and a debt-to-equity ratio of 1.06.

Insider Transactions at Avista

In other Avista news, SVP Wayne O. Manuel sold 1,785 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $38.74, for a total value of $69,150.90. Following the completion of the transaction, the senior vice president owned 9,883 shares of the company’s stock, valued at approximately $382,867.42. This trade represents a 15.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.94% of the company’s stock.

Institutional Trading of Avista

A number of hedge funds and other institutional investors have recently made changes to their positions in AVA. CSM Advisors LLC purchased a new stake in Avista in the 2nd quarter worth $3,669,000. Inspire Advisors LLC purchased a new stake in shares of Avista during the third quarter worth about $1,118,000. Principal Financial Group Inc. boosted its holdings in Avista by 8.0% in the 3rd quarter. Principal Financial Group Inc. now owns 519,946 shares of the utilities provider’s stock worth $19,659,000 after buying an additional 38,651 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Avista during the 2nd quarter worth approximately $1,745,000. Finally, Franklin Resources Inc. raised its holdings in shares of Avista by 70.9% during the second quarter. Franklin Resources Inc. now owns 79,381 shares of the utilities provider’s stock valued at $3,013,000 after acquiring an additional 32,926 shares during the last quarter. 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.