Intrinsic value of Avista - AVA

Previous Close

$50.40

  Intrinsic Value

$10.80

stock screener

  Rating & Target

str. sell

-79%

Previous close

$50.40

 
Intrinsic value

$10.80

 
Up/down potential

-79%

 
Rating

str. sell

We calculate the intrinsic value of AVA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 3.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  1,475
  1,509
  1,548
  1,591
  1,639
  1,692
  1,750
  1,812
  1,880
  1,952
  2,029
  2,111
  2,199
  2,292
  2,391
  2,496
  2,607
  2,724
  2,848
  2,979
  3,117
  3,262
  3,416
  3,578
  3,748
  3,927
  4,116
  4,315
  4,524
  4,743
Variable operating expenses, $m
  1,178
  1,205
  1,236
  1,271
  1,309
  1,351
  1,397
  1,447
  1,500
  1,557
  1,613
  1,678
  1,748
  1,822
  1,901
  1,984
  2,072
  2,165
  2,264
  2,368
  2,478
  2,594
  2,716
  2,844
  2,980
  3,122
  3,272
  3,430
  3,596
  3,771
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,178
  1,205
  1,236
  1,271
  1,309
  1,351
  1,397
  1,447
  1,500
  1,557
  1,613
  1,678
  1,748
  1,822
  1,901
  1,984
  2,072
  2,165
  2,264
  2,368
  2,478
  2,594
  2,716
  2,844
  2,980
  3,122
  3,272
  3,430
  3,596
  3,771
Operating income, $m
  297
  304
  311
  320
  330
  341
  353
  366
  380
  394
  416
  433
  451
  470
  490
  512
  534
  558
  584
  611
  639
  669
  700
  733
  768
  805
  844
  885
  927
  972
EBITDA, $m
  744
  761
  781
  803
  827
  854
  883
  914
  948
  985
  1,024
  1,065
  1,109
  1,156
  1,206
  1,259
  1,315
  1,374
  1,437
  1,503
  1,572
  1,646
  1,723
  1,805
  1,891
  1,981
  2,077
  2,177
  2,282
  2,393
Interest expense (income), $m
  86
  104
  108
  113
  118
  125
  131
  139
  147
  156
  165
  176
  186
  198
  211
  224
  238
  253
  268
  285
  302
  321
  340
  361
  383
  405
  430
  455
  482
  510
  539
Earnings before tax, $m
  193
  195
  199
  202
  206
  210
  214
  219
  224
  229
  240
  246
  253
  259
  266
  274
  282
  290
  299
  308
  318
  329
  339
  351
  363
  376
  389
  403
  418
  433
Tax expense, $m
  52
  53
  54
  55
  56
  57
  58
  59
  60
  62
  65
  67
  68
  70
  72
  74
  76
  78
  81
  83
  86
  89
  92
  95
  98
  101
  105
  109
  113
  117
Net income, $m
  141
  143
  145
  147
  150
  153
  156
  160
  163
  167
  175
  180
  184
  189
  195
  200
  206
  212
  218
  225
  232
  240
  248
  256
  265
  274
  284
  294
  305
  316

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  5,629
  5,759
  5,907
  6,073
  6,257
  6,459
  6,679
  6,917
  7,174
  7,449
  7,744
  8,058
  8,393
  8,748
  9,126
  9,526
  9,949
  10,397
  10,870
  11,369
  11,896
  12,452
  13,038
  13,655
  14,305
  14,989
  15,710
  16,468
  17,265
  18,104
Adjusted assets (=assets-cash), $m
  5,629
  5,759
  5,907
  6,073
  6,257
  6,459
  6,679
  6,917
  7,174
  7,449
  7,744
  8,058
  8,393
  8,748
  9,126
  9,526
  9,949
  10,397
  10,870
  11,369
  11,896
  12,452
  13,038
  13,655
  14,305
  14,989
  15,710
  16,468
  17,265
  18,104
Revenue / Adjusted assets
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
  0.262
Average production assets, $m
  4,417
  4,519
  4,635
  4,766
  4,910
  5,069
  5,241
  5,428
  5,629
  5,845
  6,076
  6,323
  6,586
  6,865
  7,161
  7,475
  7,807
  8,158
  8,529
  8,921
  9,335
  9,771
  10,230
  10,715
  11,225
  11,762
  12,327
  12,922
  13,548
  14,206
Working capital, $m
  -50
  -51
  -53
  -54
  -56
  -58
  -59
  -62
  -64
  -66
  -69
  -72
  -75
  -78
  -81
  -85
  -89
  -93
  -97
  -101
  -106
  -111
  -116
  -122
  -127
  -134
  -140
  -147
  -154
  -161
Total debt, $m
  2,003
  2,092
  2,194
  2,308
  2,434
  2,572
  2,723
  2,887
  3,063
  3,252
  3,454
  3,669
  3,899
  4,143
  4,402
  4,676
  4,966
  5,273
  5,598
  5,941
  6,302
  6,683
  7,085
  7,509
  7,955
  8,424
  8,918
  9,438
  9,985
  10,561
Total liabilities, $m
  3,862
  3,951
  4,052
  4,166
  4,292
  4,431
  4,582
  4,745
  4,921
  5,110
  5,312
  5,528
  5,757
  6,001
  6,260
  6,535
  6,825
  7,132
  7,457
  7,799
  8,161
  8,542
  8,944
  9,367
  9,813
  10,283
  10,777
  11,297
  11,844
  12,419
Total equity, $m
  1,768
  1,808
  1,855
  1,907
  1,965
  2,028
  2,097
  2,172
  2,253
  2,339
  2,432
  2,530
  2,635
  2,747
  2,865
  2,991
  3,124
  3,265
  3,413
  3,570
  3,735
  3,910
  4,094
  4,288
  4,492
  4,707
  4,933
  5,171
  5,421
  5,685
Total liabilities and equity, $m
  5,630
  5,759
  5,907
  6,073
  6,257
  6,459
  6,679
  6,917
  7,174
  7,449
  7,744
  8,058
  8,392
  8,748
  9,125
  9,526
  9,949
  10,397
  10,870
  11,369
  11,896
  12,452
  13,038
  13,655
  14,305
  14,990
  15,710
  16,468
  17,265
  18,104
Debt-to-equity ratio
  1.130
  1.160
  1.180
  1.210
  1.240
  1.270
  1.300
  1.330
  1.360
  1.390
  1.420
  1.450
  1.480
  1.510
  1.540
  1.560
  1.590
  1.620
  1.640
  1.660
  1.690
  1.710
  1.730
  1.750
  1.770
  1.790
  1.810
  1.830
  1.840
  1.860
Adjusted equity ratio
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314
  0.314

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  141
  143
  145
  147
  150
  153
  156
  160
  163
  167
  175
  180
  184
  189
  195
  200
  206
  212
  218
  225
  232
  240
  248
  256
  265
  274
  284
  294
  305
  316
Depreciation, amort., depletion, $m
  448
  458
  469
  482
  497
  513
  530
  549
  569
  590
  608
  632
  659
  686
  716
  747
  781
  816
  853
  892
  933
  977
  1,023
  1,071
  1,122
  1,176
  1,233
  1,292
  1,355
  1,421
Funds from operations, $m
  588
  600
  614
  630
  647
  666
  686
  708
  732
  757
  783
  812
  843
  876
  911
  947
  986
  1,028
  1,071
  1,117
  1,166
  1,217
  1,271
  1,328
  1,387
  1,450
  1,517
  1,586
  1,660
  1,737
Change in working capital, $m
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -7
Cash from operations, $m
  589
  601
  616
  631
  649
  668
  688
  710
  734
  760
  786
  815
  846
  879
  914
  951
  990
  1,032
  1,075
  1,122
  1,170
  1,222
  1,276
  1,333
  1,393
  1,456
  1,523
  1,593
  1,667
  1,744
Maintenance CAPEX, $m
  -433
  -442
  -452
  -464
  -477
  -491
  -507
  -524
  -543
  -563
  -585
  -608
  -632
  -659
  -686
  -716
  -747
  -781
  -816
  -853
  -892
  -933
  -977
  -1,023
  -1,071
  -1,122
  -1,176
  -1,233
  -1,292
  -1,355
New CAPEX, $m
  -87
  -102
  -116
  -130
  -144
  -159
  -173
  -187
  -201
  -216
  -231
  -247
  -263
  -279
  -296
  -314
  -332
  -351
  -371
  -392
  -414
  -436
  -460
  -484
  -510
  -537
  -565
  -595
  -626
  -658
Cash from investing activities, $m
  -520
  -544
  -568
  -594
  -621
  -650
  -680
  -711
  -744
  -779
  -816
  -855
  -895
  -938
  -982
  -1,030
  -1,079
  -1,132
  -1,187
  -1,245
  -1,306
  -1,369
  -1,437
  -1,507
  -1,581
  -1,659
  -1,741
  -1,828
  -1,918
  -2,013
Free cash flow, $m
  69
  58
  48
  37
  28
  18
  9
  -1
  -10
  -19
  -30
  -39
  -49
  -59
  -69
  -79
  -89
  -100
  -112
  -123
  -135
  -148
  -161
  -174
  -188
  -203
  -218
  -234
  -251
  -269
Issuance/(repayment) of debt, $m
  77
  89
  102
  114
  126
  139
  151
  163
  176
  189
  202
  216
  230
  244
  259
  274
  290
  307
  324
  343
  362
  381
  402
  423
  446
  470
  494
  520
  547
  575
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  77
  89
  102
  114
  126
  139
  151
  163
  176
  189
  202
  216
  230
  244
  259
  274
  290
  307
  324
  343
  362
  381
  402
  423
  446
  470
  494
  520
  547
  575
Total cash flow (excl. dividends), $m
  147
  147
  149
  151
  154
  157
  160
  163
  166
  170
  172
  176
  181
  185
  190
  195
  201
  207
  213
  219
  226
  234
  241
  249
  258
  266
  276
  286
  296
  307
Retained Cash Flow (-), $m
  -38
  -41
  -46
  -52
  -58
  -63
  -69
  -75
  -81
  -86
  -92
  -99
  -105
  -112
  -118
  -126
  -133
  -141
  -149
  -157
  -165
  -175
  -184
  -194
  -204
  -215
  -226
  -238
  -250
  -263
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  7
  7
  8
  8
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  11
  12
  12
  13
  14
  14
  15
  16
  16
  17
  18
  19
  20
  21
  22
  23
Cash available for distribution, $m
  109
  106
  103
  99
  96
  93
  90
  88
  86
  83
  80
  78
  76
  74
  72
  70
  68
  66
  64
  63
  61
  59
  57
  55
  53
  52
  50
  48
  45
  43
Discount rate, %
  7.80
  8.19
  8.60
  9.03
  9.48
  9.95
  10.45
  10.98
  11.52
  12.10
  12.71
  13.34
  14.01
  14.71
  15.44
  16.22
  17.03
  17.88
  18.77
  19.71
  20.70
  21.73
  22.82
  23.96
  25.16
  26.41
  27.73
  29.12
  30.58
  32.11
PV of cash for distribution, $m
  101
  91
  80
  70
  61
  53
  45
  38
  32
  27
  21
  17
  14
  11
  8
  6
  5
  3
  2
  2
  1
  1
  1
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company's regional services include government and higher education, medical services, retail trade and finance. The Company's businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company. Avista Utilities is an operating division of the Company, which consists of its regulated utility operations in the Pacific Northwest. Avista Utilities division generates, transmits and distributes electricity, and distributes natural gas. As of December 31, 2016, AEL&P operated five hydroelectric generation facilities with 102.7 megawatts (MW) of hydroelectric generation capacity.

FINANCIAL RATIOS  of  Avista (AVA)

Valuation Ratios
P/E Ratio 23.6
Price to Sales 2.2
Price to Book 2
Price to Tangible Book
Price to Cash Flow 9
Price to Free Cash Flow -66
Growth Rates
Sales Growth Rate -2.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 3.3%
Cap. Spend. - 3 Yr. Gr. Rate 6.1%
Financial Strength
Quick Ratio 0
Current Ratio 0.1
LT Debt to Equity 105%
Total Debt to Equity 112.4%
Interest Coverage 4
Management Effectiveness
Return On Assets 3.8%
Ret/ On Assets - 3 Yr. Avg. 4.2%
Return On Total Capital 4.1%
Ret/ On T. Cap. - 3 Yr. Avg. 4.8%
Return On Equity 8.6%
Return On Equity - 3 Yr. Avg. 10.2%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 32.3%
EBITDA Margin - 3 Yr. Avg. 29.2%
Operating Margin 20%
Oper. Margin - 3 Yr. Avg. 18.1%
Pre-Tax Margin 14.9%
Pre-Tax Margin - 3 Yr. Avg. 13.5%
Net Profit Margin 9.5%
Net Profit Margin - 3 Yr. Avg. 10.3%
Effective Tax Rate 36.3%
Eff/ Tax Rate - 3 Yr. Avg. 36.8%
Payout Ratio 63.5%

AVA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AVA stock intrinsic value calculation we used $1446 million for the last fiscal year's total revenue generated by Avista. The default revenue input number comes from 2017 income statement of Avista. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AVA stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.8%, whose default value for AVA is calculated based on our internal credit rating of Avista, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Avista.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AVA stock the variable cost ratio is equal to 79.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for AVA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Avista.

Corporate tax rate of 27% is the nominal tax rate for Avista. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AVA stock is equal to 0.5%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AVA are equal to 299.5%.

Life of production assets of 10 years is the average useful life of capital assets used in Avista operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AVA is equal to -3.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1730 million for Avista - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 64 million for Avista is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Avista at the current share price and the inputted number of shares is $3.2 billion.

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COMPANY NEWS

▶ Avista Files Annual Adjustments to Decrease Rates in Idaho   [Jul-02-18 07:05AM  GlobeNewswire]
▶ Avista Issues Request for Proposals for Renewable Energy   [Jun-06-18 07:30PM  GlobeNewswire]
▶ Avista Corp. Board Declares Common Stock Dividend   [May-10-18 04:05PM  GlobeNewswire]
▶ Avista: 1Q Earnings Snapshot   [06:21AM  Associated Press]
▶ Investors Favorite Dividend Stocks   [Feb-22-18 08:02AM  Simply Wall St.]
▶ Avista posts 4Q profit   [06:29AM  Associated Press]
▶ Avista Corp. Board Increases Common Stock Dividend   [Feb-02-18 07:05AM  GlobeNewswire]
▶ Avista Shareholders Approve Acquisition by Hydro One   [Nov-21-17 04:05PM  GlobeNewswire]
▶ ETFs with exposure to Avista Corp. : November 20, 2017   [Nov-20-17 11:42AM  Capital Cube]
▶ ETFs with exposure to Avista Corp. : November 9, 2017   [Nov-09-17 11:56AM  Capital Cube]
▶ Avista Corporation to Host Earnings Call   [Nov-01-17 08:00AM  ACCESSWIRE]
▶ Avista posts 3Q profit   [06:17AM  Associated Press]
▶ Avista Announces Change in Its Officer Team   [Sep-08-17 04:05PM  GlobeNewswire]
▶ ETFs with exposure to Avista Corp. : September 1, 2017   [Sep-01-17 06:55PM  Capital Cube]
▶ Avista Submits 2017 Electric Integrated Resource Plan   [Aug-31-17 05:30PM  GlobeNewswire]
▶ Avista Corp. Board Declares Common Stock Dividend   [Aug-17-17 04:21PM  GlobeNewswire]
▶ Avista posts 2Q profit   [Aug-02-17 10:56PM  Associated Press]
▶ Avista Makes Annual Price Adjustment Filings in Idaho   [Aug-01-17 04:05PM  GlobeNewswire]
▶ New Strong Buy Stocks for July 24th   [Jul-24-17 11:16AM  Zacks]
▶ Avista Was the NYSEs Biggest Gainer Last Week   [08:59AM  Market Realist]
▶ Avista Corp.: Strong price momentum but will it sustain?   [Jul-21-17 12:44PM  Capital Cube]
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