Avista Corporation (AVA) Bundle
A Brief History of Avista Corporation (AVA)
Founding and Early Years
Avista Corporation, originally known as the Washington Water Power Company, was founded in 1889 in Spokane, Washington. The company's initial focus was on providing hydroelectric power to the region. In 1890, the company built its first hydroelectric plant on the Spokane River.
Company Development and Expansion
In the 20th century, Avista expanded its services beyond electric power, entering the natural gas market in 1956. The company changed its name to Avista Corporation in 2000 to reflect its diversified operations.
Financial Performance
For the fiscal year 2022, Avista Corporation reported revenues of approximately $1.52 billion. The net income for the same period was around $181 million, which represented an increase compared to prior years.
| Fiscal Year | Revenue ($ Billion) | Net Income ($ Million) | Total Assets ($ Billion) |
|---|---|---|---|
| 2022 | 1.52 | 181 | 4.10 |
| 2021 | 1.42 | 162 | 3.70 |
| 2020 | 1.38 | 150 | 3.50 |
Regulatory Environment
Avista operates under strict regulatory oversight from various bodies, including the Washington Utilities and Transportation Commission (WUTC) and the Idaho Public Utilities Commission (IPUC). The company is also subject to Federal Energy Regulatory Commission (FERC) regulations, impacting its electricity and natural gas operations.
Recent Developments
In 2023, Avista Corporation announced plans for a significant investment in renewable energy sources, targeting a portfolio consisting of 50% renewable energy by 2030. The estimated capital expenditure for this initiative is projected to be over $300 million.
Customer Base and Service Area
Avista serves approximately 400,000 electric customers and 340,000 natural gas customers across northeastern Washington, northern Idaho, and parts of Oregon. The company is committed to reliability and maintaining a customer satisfaction rating of over 85%.
Sustainability Initiatives
Avista has embarked on several sustainability initiatives, including energy efficiency programs and renewable energy projects. As of 2022, the company increased its renewable generation capacity by 15% and aims to reduce greenhouse gas emissions by 50% by 2030.
Stock Performance
Avista Corporation trades on the New York Stock Exchange under the ticker symbol AVA. As of October 2023, the stock price is approximately $38 per share, with a market capitalization around $2.5 billion.
| Year | Stock Price Range ($) | Market Capitalization ($ Billion) | Dividend Yield (%) |
|---|---|---|---|
| 2023 | 36 - 40 | 2.50 | 4.12 |
| 2022 | 32 - 37 | 2.30 | 3.78 |
| 2021 | 29 - 34 | 2.00 | 3.50 |
Future Outlook
Looking ahead, Avista Corporation aims to continue its focus on sustainable practices, investing in grid modernization and smart technology to enhance service reliability and efficiency. The company's long-term strategy includes transitioning to a low-carbon energy future.
A Who Owns Avista Corporation (AVA)
Ownership Structure
Avista Corporation (AVA) is publicly traded on the New York Stock Exchange (NYSE). As of the latest filings, the ownership structure is as follows:
| Owner Type | Percentage Ownership | Number of Shares |
|---|---|---|
| Institutional Investors | 65.2% | 30,134,000 |
| Individual Investors | 22.4% | 10,134,000 |
| Insider Ownership | 12.4% | 5,634,000 |
Top Institutional Shareholders
Major institutional shareholders hold significant portions of Avista Corporation's stock. The top five institutional investors are:
| Institution | Shares Held | Percentage Ownership |
|---|---|---|
| The Vanguard Group, Inc. | 5,250,000 | 11.4% |
| BlackRock, Inc. | 4,820,000 | 10.6% |
| State Street Corporation | 3,900,000 | 8.5% |
| Wellington Management Company, LLP | 2,800,000 | 6.1% |
| Invesco Ltd. | 2,500,000 | 5.5% |
Insider Ownership Information
Insider ownership is critical in evaluating the alignment of interests between management and shareholders. Significant insiders include:
| Insider Name | Title | Shares Owned |
|---|---|---|
| Mary K. Verner | CEO | 1,200,000 |
| Gregory J. Gibbons | CFO | 950,000 |
| Robert D. Ailstock | Chairman | 800,000 |
Market Capitalization
As of the most recent data, Avista Corporation has a market capitalization of approximately $1.5 billion.
Stock Performance
As of October 2023, Avista Corporation's stock price is approximately $45.17, with a 52-week range of $39.50 - $48.35.
Recent Financial Performance
The financial summary for Avista Corporation for the latest fiscal year is as follows:
| Financial Metric | Amount (in millions) |
|---|---|
| Revenue | $1,350 |
| Net Income | $150 |
| Total Assets | $3,200 |
| Total Liabilities | $2,500 |
| Shareholder Equity | $700 |
Growth Projections
The expected growth rate for Avista Corporation’s revenue over the next five years is projected at 6% annually.
Dividend Information
Avista Corporation has a history of consistent dividend payments. The current annual dividend is $1.75, with a dividend yield of 3.8%.
Conclusion
Ownership details for Avista Corporation illustrate a diverse base of shareholders with significant institutional involvement and notable insider ownership, contributing to the governance and strategic direction of the company.
Avista Corporation (AVA) Mission Statement
Company Overview
Avista Corporation (NYSE: AVA) is a diversified energy company that provides electric and natural gas services to more than 400,000 customers in the Northwest United States. The company’s operations extend into three core areas: utility operations, and unregulated businesses.
Mission Statement
Avista Corporation’s mission is to “lead the way to a clean energy future,” striving to provide safe, reliable, and affordable energy. The mission reflects the company’s commitment to sustainability, innovation, and community engagement.
Core Values
- Integrity: Upholding honesty in interactions and decisions.
- Accountability: Taking responsibility for performance and commitments.
- Safety: Prioritizing safety for employees and customers.
- Customer Focus: Committing to exceptional customer service.
- Sustainability: Fostering a sustainable energy future through responsible actions.
Recent Financial Performance
As of Q2 2023, Avista Corporation reported the following key financial metrics:
| Financial Metric | Q2 2023 Amount |
|---|---|
| Total Revenue | $345 million |
| Net Income | $40 million |
| Operating Income | $70 million |
| Total Assets | $6.5 billion |
| Market Capitalization | $2.3 billion |
Target Areas for Innovation
Avista Corporation emphasizes the following target areas for innovation as part of its mission:
- Renewable Energy: Investments in solar and wind energy.
- Energy Efficiency: Programs to reduce consumption and emissions.
- Grid Modernization: Upgrading infrastructure for improved reliability.
- Electric Vehicles: Initiatives to support EV infrastructure.
Community Engagement and Sustainability Efforts
Avista is committed to enhancing community well-being through a range of initiatives:
| Program | Details | Investment |
|---|---|---|
| Community Solar | Providing access to solar energy for customers. | $10 million |
| Energy Efficiency Programs | Incentives for residential and commercial improvements. | $15 million |
| Educational Initiatives | Workshops on energy conservation for schools. | $2 million |
| Environmental Stewardship | Efforts to protect local ecosystems and wildlife. | $5 million |
Outlook and Future Goals
Avista Corporation has set ambitious goals to align with its mission statement:
- Reduce Carbon Emissions: Targeting a 30% reduction by 2030.
- Increase Renewable Portfolio: Aiming for 50% of energy from renewables by 2040.
- Customer Satisfaction: Striving for a customer satisfaction score above 90%.
Conclusion
Avista Corporation’s mission underlines its role as a leader in the energy sector, emphasizing a trajectory towards sustainability, innovation, and strong community ties.
How Avista Corporation (AVA) Works
Overview of Avista Corporation
Avista Corporation, a utility company based in Spokane, Washington, operates in the energy sector, providing electrical and natural gas services to over 400,000 customers. As of 2022, Avista reported total revenues of approximately $1.3 billion.
Primary Services
- Electric Utility Services
- Natural Gas Utility Services
Business Segments
Avista operates primarily through three segments:
- Avista Utilities: Provides electric and natural gas service.
- Avista Capital: Manages investments and related activities.
- Avista Energy: Engages in energy trading and wholesale energy sales.
Financial Performance
In the fiscal year 2022, Avista Corporation recorded the following financial metrics:
| Metric | Amount (in millions) |
|---|---|
| Total Revenue | $1,300 |
| Net Income | $128 |
| Total Assets | $4,800 |
| Total Liabilities | $2,800 |
| Shareholder's Equity | $2,000 |
Energy Sources
Avista sources its energy from a mix of renewable and non-renewable resources:
- Hydroelectric Power: Approximately 50% of electric generation.
- Natural Gas: Accounts for around 30%.
- Wind and Solar: Comprises 20% of the generation mix.
Regulatory Environment
Avista Corporation is regulated by state agencies, including:
- Washington Utilities and Transportation Commission (WUTC)
- Oregon Public Utility Commission (OPUC)
Customer Base
As of 2023, Avista serves approximately 400,000 customers, divided as follows:
| Customer Type | Percentage | Number of Customers |
|---|---|---|
| Residential | 75% | 300,000 |
| Commercial | 20% | 80,000 |
| Industrial | 5% | 20,000 |
Recent Developments
In 2023, Avista Corporation announced plans to invest $500 million in infrastructure improvements to enhance grid reliability and resilience.
Sustainability Initiatives
Avista has committed to reducing greenhouse gas emissions and aims for a 100% clean electricity supply by 2045.
Stock Information
As of October 2023, Avista's stock (AVA) was trading at approximately $40.25 per share, with a market capitalization of around $2.65 billion.
How Avista Corporation (AVA) Makes Money
Overview of Revenue Sources
Avista Corporation, trading under the ticker symbol AVA, primarily generates revenue through its regulated utility operations, which include electric and natural gas services. The company operates mainly in the Pacific Northwest region of the United States.
Electric and Natural Gas Utility Operations
Avista's primary revenue stream comes from its electric and natural gas utility services. In 2022, Avista reported the following revenue distribution:
| Service Type | Revenue (in millions) | Percentage of Total Revenue |
|---|---|---|
| Electric | 637 | 56% |
| Natural Gas | 502 | 44% |
Regulatory Framework and Rate Setting
The revenues from utility operations are regulated by state utility commissions, which set the allowable rates charged to customers. For instance, in 2021, an electric rate case approved by the Washington Utilities and Transportation Commission (WUTC) allowed for a 4.5% increase in rates, contributing an additional $24 million in annual revenues.
Commercial and Industrial Customers
Avista also serves commercial and industrial customers, which represent a significant portion of its electric and gas revenues. In 2022, the breakdown was as follows:
| Customer Type | Electric Revenue (in millions) | Gas Revenue (in millions) |
|---|---|---|
| Residential | 307 | 239 |
| Commercial | 220 | 210 |
| Industrial | 110 | 53 |
Energy Efficiency Programs
Avista engages in energy efficiency programs that not only help customers reduce usage but also allow the company to recover costs through state-approved mechanisms. In 2022, these programs contributed approximately $10 million to revenues.
Investments and Renewable Energy
Avista has been investing in renewable energy resources, including hydroelectric, wind, and solar facilities. The company owns and operates over 1,000 MW of renewable generation capacity. As of 2022, these investments contributed around $85 million to the company's annual revenue through renewable energy credits (RECs) and power sales.
Commercial Services
In addition to utility services, Avista provides various commercial services, including engineering and consulting services related to energy management. In 2022, this segment generated approximately $15 million in revenue.
Financial Performance
For the year ending December 31, 2022, Avista Corporation reported the following financial performance metrics:
| Metric | 2022 Value |
|---|---|
| Total Revenue | $1.14 billion |
| Net Income | $108 million |
| Operational Cash Flow | $220 million |
| Annual Dividends Paid | $44 million |
Conclusion on Future Revenue Opportunities
Avista Corporation is strategically positioned to capitalize on future revenue opportunities through continued investments in renewable energy and energy efficiency initiatives, combined with a robust regulatory framework supporting its utility operations.
Avista Corporation (AVA) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support