Hennion & Walsh Asset Management Inc. Sells 267 Shares of IDACORP, Inc. (NYSE:IDA)

Hennion & Walsh Asset Management Inc. trimmed its holdings in IDACORP, Inc. (NYSE:IDA) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,751 shares of the energy company’s stock after selling 267 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in IDACORP were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. NBC Securities Inc. boosted its position in shares of IDACORP by 14,206.7% in the fourth quarter. NBC Securities Inc. now owns 25,609 shares of the energy company’s stock valued at $2,517,000 after acquiring an additional 25,430 shares during the period. First Eagle Investment Management LLC boosted its position in shares of IDACORP by 18.4% in 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 acquiring an additional 20,184 shares during the period. Westwood Holdings Group Inc. boosted its position in shares of IDACORP by 6.5% in the fourth quarter. Westwood Holdings Group Inc. now owns 204,925 shares of the energy company’s stock valued at $20,148,000 after acquiring an additional 12,432 shares during the period. Buckley Wealth Management LLC lifted its position in IDACORP by 273.1% in the first quarter. Buckley Wealth Management LLC now owns 38,425 shares of the energy company’s stock worth $3,569,000 after purchasing an additional 28,125 shares during the period. Finally, Sei Investments Co. lifted its position in IDACORP by 90.0% in the first quarter. Sei Investments Co. now owns 74,368 shares of the energy company’s stock worth $6,908,000 after purchasing an additional 35,217 shares during the period. 89.10% of the stock is owned by institutional investors.

IDACORP Stock Performance

Shares of NYSE:IDA opened at $102.88 on Tuesday. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $104.43. The firm has a market cap of $5.48 billion, a PE ratio of 20.66 and a beta of 0.58. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.19 and a current ratio of 1.54. The business has a fifty day moving average of $95.77 and a 200-day moving average of $93.52.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.34. IDACORP had a return on equity of 9.38% and a net margin of 15.04%. The company had revenue of $451.04 million during the quarter, compared to analyst estimates of $420.56 million. During the same period last year, the company posted $1.35 earnings per share. On average, equities research analysts predict that IDACORP, Inc. will post 5.37 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 5th will be given a $0.83 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.32 dividend on an annualized basis and a yield of 3.23%. IDACORP’s payout ratio is 66.67%.

Insider Buying and Selling

In related news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $95.09, for a total value of $142,635.00. Following the completion of the sale, the vice president now directly owns 1,650 shares in the company, valued at $156,898.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

IDA has been the subject of several research reports. StockNews.com raised IDACORP to a “sell” rating in a research report on Friday, April 26th. Mizuho increased their price objective on IDACORP from $88.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Wells Fargo & Company increased their price objective on IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley dropped their price objective on IDACORP from $98.00 to $93.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $98.00.

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.