Avista US Stock Price, News & Analysis

Avista has issued a request for proposals (RFP) to enhance its energy portfolio and meet clean energy goals. The RFP aims to secure power generation and demand management solutions to fulfill resource needs between 2026 and 2030, according to the company's 2021 Electric Integrated Resource Plan (IRP). Avista seeks to achieve 100% clean electricity by 2045 and carbon neutrality by 2027, with a target of adding approximately 196 MW of winter capacity and 190 MW of summer capacity. Proposals are due by March 25, 2022.

Avista Corp. (NYSE: AVA) has declared a quarterly dividend of $0.44 per share, representing a 4.1% increase from the previous dividend. This marks the 20th consecutive year of dividend growth, emphasizing the board's commitment to enhancing shareholder value. The dividend is payable on March 15, 2022, to shareholders recorded by the close of business on February 18, 2022. The annualized dividend stands at $1.76.

Avista Corp. (NYSE: AVA) will discuss its fourth quarter 2021 results in a conference call scheduled for February 23, 2022, at 10:30 a.m. EST. A news release detailing the earnings will be available at 7:05 a.m. EST the same day. Interested parties can access the call via Avista's website or by dialing (855) 806-8606 with confirmation number 9970246. A replay will be accessible until March 2, 2022. Avista provides electric and natural gas services to a significant customer base across the Pacific Northwest and Alaska.

Avista (NYSE: AVA) has filed a multiyear rate plan with the Washington Utilities and Transportation Commission. The proposal aims to recover $52.9 million in electric revenue and $10.9 million in natural gas revenue by December 2022, increasing rates by 7.4% and 2.5% respectively, with additional 3.0% and 1.1% increases in December 2023. The plan also proposes a Residual Tax Customer Credit of $38 million over two years and aims to enhance infrastructure to ensure reliable energy delivery. Customers will benefit from predictable pricing and assistance programs.

Agreement provides valuable carbon-free energy to Northwest electric customers

Avista and Chelan County Public Utility District have finalized a 20-year contract for renewable hydropower, enhancing Avista's carbon-free resource pool towards its 2030 goals. The contract stipulates Avista will obtain 5% of the output from PUD’s hydro projects from 2026-2030, increasing to 10% from 2031-2045. This deal not only supports Avista's clean energy commitment but also boosts PUD's wholesale revenues, fostering low rates and additional services.

Avista (NYSE: AVA) released its latest Corporate Responsibility report on Dec. 14, 2021, showcasing its commitment to environmental, social, and governance (ESG) principles. The report details efforts across four key areas: environment, people, customers, and governance. Avista’s President and CEO, Dennis Vermillion, emphasized the company's dedication to integrating these ESG commitments into their operations. The full report and related disclosures are available on Avista's corporate website.

Avista Corp. (NYSE: AVA) has declared a quarterly dividend of $0.4225 per share on its common stock, payable on Dec. 15, 2021, to shareholders of record as of the close of business on Nov. 19, 2021. The board of directors decides on dividends based on financial results, business strategies, and market conditions. Avista operates in energy production, transmission, and distribution, serving 403,000 electric and 369,000 natural gas customers across a service area of 30,000 square miles.

Avista Corp. reported a net income of $14.4 million, or $0.20 per diluted share, for Q3 2021, up from $4.9 million, or $0.07 per diluted share in Q3 2020. Year-to-date, net income reached $96.5 million, or $1.38 per share, compared to $70.8 million, or $1.04 in 2020. The company confirmed its earnings guidance for 2021 at $1.96 to $2.16 per share but lowered its 2022 guidance by $0.10 to $1.93 to $2.13 per share, citing increased operating costs. Avista Utilities' earnings exceeded expectations largely due to tax timing.

Avista Corp. (NYSE: AVA) will conduct its quarterly conference call on November 3, 2021, at 10:30 a.m. EDT to discuss third quarter 2021 results. A news release with earnings data will be issued at 7:05 a.m. EDT on the same day.

To access the call, visit investor.avistacorp.com or dial (855) 806-8606, using confirmation number 5499812. A replay will be available until November 10, 2021. Avista provides electric and natural gas service to over 771,000 customers across the Pacific Northwest.