TD Asset Management Inc Trims Position in IDACORP, Inc. (NYSE:IDA)

TD Asset Management Inc trimmed its holdings in IDACORP, Inc. (NYSE:IDA) by 39.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 18,696 shares of the energy company’s stock after selling 12,326 shares during the quarter. TD Asset Management Inc’s holdings in IDACORP were worth $1,742,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pitcairn Co. increased its stake in shares of IDACORP by 2.4% during the first quarter. Pitcairn Co. now owns 4,332 shares of the energy company’s stock worth $402,000 after acquiring an additional 103 shares during the period. Raymond James Trust N.A. increased its stake in shares of IDACORP by 1.7% during the second quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock worth $597,000 after acquiring an additional 107 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of IDACORP by 19.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock worth $68,000 after acquiring an additional 112 shares during the period. Fortem Financial Group LLC increased its stake in shares of IDACORP by 1.2% during the second quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company’s stock worth $866,000 after acquiring an additional 112 shares during the period. Finally, Rise Advisors LLC increased its stake in shares of IDACORP by 65.8% during the second quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock worth $34,000 after acquiring an additional 146 shares during the period. 89.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IDA has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of IDACORP from $94.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Bank of America began coverage on shares of IDACORP in a research report on Thursday. They set a “neutral” rating and a $110.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on shares of IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $101.50.

IDACORP Trading Up 0.5 %

Shares of IDA opened at $103.47 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 0.87. The firm’s 50-day moving average is $99.83 and its two-hundred day moving average is $95.24. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $105.24. The firm has a market capitalization of $5.51 billion, a P/E ratio of 20.78 and a beta of 0.60.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.37 by $0.34. The business had revenue of $451.04 million for the quarter, compared to analyst estimates of $420.56 million. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. During the same period in the prior year, the business earned $1.35 earnings per share. On average, research analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 5th were given a $0.83 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.32 annualized dividend and a dividend yield of 3.21%. IDACORP’s dividend payout ratio is presently 66.67%.

IDACORP Company Profile

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.