Leeward Investments LLC MA Sells 5,561 Shares of IDACORP, Inc. (NYSE:IDA)

Leeward Investments LLC MA lessened its position in IDACORP, Inc. (NYSE:IDA) by 4.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 129,658 shares of the energy company’s stock after selling 5,561 shares during the period. Leeward Investments LLC MA owned 0.26% of IDACORP worth $12,044,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in IDACORP by 50.3% in the 4th quarter. Wellington Management Group LLP now owns 1,634,463 shares of the energy company’s stock worth $160,700,000 after acquiring an additional 546,818 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of IDACORP by 29.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,194,847 shares of the energy company’s stock worth $117,477,000 after purchasing an additional 273,560 shares during the period. American Trust lifted its position in shares of IDACORP by 13.7% in the 3rd quarter. American Trust now owns 828,208 shares of the energy company’s stock worth $77,562,000 after purchasing an additional 100,016 shares during the period. First Trust Advisors LP lifted its position in shares of IDACORP by 0.9% in the 4th quarter. First Trust Advisors LP now owns 761,621 shares of the energy company’s stock worth $74,883,000 after purchasing an additional 7,008 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of IDACORP by 10.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 649,195 shares of the energy company’s stock worth $63,829,000 after purchasing an additional 61,546 shares during the period. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Down 0.1 %

NYSE IDA traded down $0.12 during trading hours on Friday, reaching $92.19. 1,586 shares of the company’s stock traded hands, compared to its average volume of 367,772. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $106.33. The firm has a market cap of $4.91 billion, a PE ratio of 18.54 and a beta of 0.58. The firm has a 50-day simple moving average of $94.36 and a 200 day simple moving average of $93.12. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.54 and a quick ratio of 1.19.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.06). The business had revenue of $448.94 million for the quarter, compared to analysts’ expectations of $441.21 million. IDACORP had a net margin of 14.18% and a return on equity of 8.71%. During the same period last year, the business earned $1.11 earnings per share. Sell-side analysts anticipate that IDACORP, Inc. will post 5.36 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Monday, May 6th were issued a $0.83 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.32 annualized dividend and a yield of 3.60%. IDACORP’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of IDACORP from $94.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Mizuho raised their target price on shares of IDACORP from $88.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. StockNews.com raised shares of IDACORP to a “sell” rating in a research report on Friday, April 26th. Finally, Morgan Stanley dropped their target price on shares of IDACORP from $98.00 to $93.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $96.40.

Insiders Place Their Bets

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $95.09, for a total value of $142,635.00. Following the completion of the transaction, the vice president now directly owns 1,650 shares of the company’s stock, valued at $156,898.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.47% of the company’s stock.

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.