Avista Co. (NYSE:AVA) Short Interest Down 5.8% in January

Avista Co. (NYSE:AVA) was the recipient of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 2,770,000 shares, a drop of 5.8% from the January 15th total of 2,940,000 shares. Based on an average trading volume of 514,300 shares, the days-to-cover ratio is presently 5.4 days.

Avista Stock Performance

Shares of AVA opened at $37.43 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.48 and a current ratio of 0.75. The company has a market capitalization of $2.96 billion, a PE ratio of 14.91, a PEG ratio of 2.48 and a beta of 0.49. Avista has a 52 week low of $32.70 and a 52 week high of $39.99. The company’s 50 day moving average price is $36.54 and its 200 day moving average price is $37.55.

Avista Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 26th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 5.24%. This is an increase from Avista’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Wednesday, February 26th. Avista’s payout ratio is currently 75.70%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group decreased their price target on shares of Avista from $40.00 to $39.00 and set a “hold” rating for the company in a report on Tuesday, January 28th.

Institutional Trading of Avista

Large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC grew its position in Avista by 2,474.1% in the fourth quarter. Headlands Technologies LLC now owns 695 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 668 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Avista in the third quarter worth $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Avista in the third quarter worth $29,000. Smartleaf Asset Management LLC lifted its stake in shares of Avista by 117.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 858 shares of the utilities provider’s stock worth $31,000 after buying an additional 464 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Avista by 296.7% in the fourth quarter. Allworth Financial LP now owns 956 shares of the utilities provider’s stock worth $35,000 after buying an additional 715 shares during the last quarter. 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.