IDACORP, Inc. (NYSE:IDA) Shares Sold by Algert Global LLC

Algert Global LLC lowered its position in shares of IDACORP, Inc. (NYSE:IDA) by 60.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,833 shares of the energy company’s stock after selling 38,137 shares during the quarter. Algert Global LLC’s holdings in IDACORP were worth $2,313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Eagle Investment Management LLC raised its stake in IDACORP by 18.4% during the first quarter. First Eagle Investment Management LLC now owns 129,880 shares of the energy company’s stock valued at $12,065,000 after buying an additional 20,184 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of IDACORP by 6.5% during the fourth quarter. Westwood Holdings Group Inc. now owns 204,925 shares of the energy company’s stock valued at $20,148,000 after purchasing an additional 12,432 shares during the last quarter. Buckley Wealth Management LLC grew its holdings in shares of IDACORP by 273.1% during the first quarter. Buckley Wealth Management LLC now owns 38,425 shares of the energy company’s stock valued at $3,569,000 after purchasing an additional 28,125 shares during the last quarter. Sei Investments Co. grew its holdings in shares of IDACORP by 90.0% during the first quarter. Sei Investments Co. now owns 74,368 shares of the energy company’s stock valued at $6,908,000 after purchasing an additional 35,217 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of IDACORP by 99.7% during the fourth quarter. Allianz Asset Management GmbH now owns 19,842 shares of the energy company’s stock valued at $1,951,000 after purchasing an additional 9,904 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

IDA has been the subject of several recent research reports. Bank of America initiated coverage on IDACORP in a report on Thursday, September 12th. They set a “neutral” rating and a $110.00 target price for the company. Wells Fargo & Company upped their target price on IDACORP from $98.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Morgan Stanley upped their target price on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group initiated coverage on IDACORP in a report on Friday, September 20th. They set a “hold” rating and a $110.00 target price for the company. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $103.57.

IDACORP Stock Performance

Shares of IDA stock opened at $102.51 on Thursday. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $105.24. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 3.46 and a beta of 0.60. The business has a 50 day simple moving average of $101.96 and a 200 day simple moving average of $96.49. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.34. The business had revenue of $451.04 million during the quarter, compared to analyst estimates of $420.56 million. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. During the same period in the prior year, the company posted $1.35 EPS. On average, equities research analysts anticipate that IDACORP, Inc. will post 5.39 EPS for the current year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 5th were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Monday, August 5th. IDACORP’s payout ratio is currently 66.67%.

About IDACORP

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.