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AVA - Avista: This 4%-Yielding Utility Stock Should Continue To Grow Its Dividend In The Next Few Years
Avista Corporation
Investment Thesis
Since we published our first article on Avista (AVA) in August 2019, many things has happened. The company has updated its capital plan to include expenditures in 2023. The pandemic has resulted in the company lowering its 2020 EPS guidance. As the impact of COVID-19 gradually recedes, the company should be able to grow its rate base by 5% - 6% per year and EPS by 4% - 6% per year through 2023 thanks to its 4-year $1.62 billion projects. The company pays a growing 4%-yielding dividend and has the potential