Avista (AVA) Declares $0.46 Dividend

Avista said on May 11, 2023 that its board of directors declared a regular quarterly dividend of $0.46 per share ($1.84 annualized). Previously, the company paid $0.46 per share.

Shares must be purchased before the ex-div date of May 25, 2023 to qualify for the dividend. Shareholders of record as of May 26, 2023 will receive the payment on June 15, 2023.

At the current share price of $44.02 / share, the stock's dividend yield is 4.18%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.83%, the lowest has been 2.82%, and the highest has been 4.90%. The standard deviation of yields is 0.54 (n=236).

The current dividend yield is 0.66 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 1.01. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.14%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 619 funds or institutions reporting positions in Avista. This is a decrease of 20 owner(s) or 3.13% in the last quarter. Average portfolio weight of all funds dedicated to AVA is 0.22%, an increase of 7.82%. Total shares owned by institutions decreased in the last three months by 1.27% to 71,315K shares. The put/call ratio of AVA is 0.31, indicating a bullish outlook.

Analyst Price Forecast Suggests 8.86% Downside

As of May 11, 2023, the average one-year price target for Avista is 40.12. The forecasts range from a low of 32.32 to a high of $52.50. The average price target represents a decrease of 8.86% from its latest reported closing price of 44.02.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Avista is 1,617MM, a decrease of 6.14%. The projected annual non-GAAP EPS is 2.36.

What are Other Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 5,307K shares representing 7.01% ownership of the company. In it's prior filing, the firm reported owning 5,208K shares, representing an increase of 1.87%. The firm increased its portfolio allocation in AVA by 10.95% over the last quarter.

Public Sector Pension Investment Board holds 3,514K shares representing 4.64% ownership of the company. In it's prior filing, the firm reported owning 3,514K shares, representing a decrease of 0.01%. The firm decreased its portfolio allocation in AVA by 9.49% over the last quarter.

Millennium Management holds 2,945K shares representing 3.89% ownership of the company. In it's prior filing, the firm reported owning 406K shares, representing an increase of 86.20%. The firm increased its portfolio allocation in AVA by 711.40% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,232K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 2,204K shares, representing an increase of 1.23%. The firm increased its portfolio allocation in AVA by 11.89% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,901K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 1,854K shares, representing an increase of 2.47%. The firm increased its portfolio allocation in AVA by 13.60% over the last quarter.

Avista Background Information
(This description is provided by the company.)

Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is our operating division that provides electric service to 397,000 customers and natural gas to 363,000 customers. Its service territory covers 30,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern Oregon, with a population of 1.6 million. Alaska Energy and Resources Company is an Avista subsidiary that provides retail electric service in the city and borough of Juneau, Alaska, through its subsidiary Alaska Electric Light and Power Company. Avista stock is traded under the ticker symbol 'AVA.'

This story originally appeared on Fintel.