RW Investment Management LLC Has $1.21 Million Stake in IDACORP, Inc. (NYSE:IDA)

RW Investment Management LLC cut its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 13.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,950 shares of the energy company’s stock after selling 2,061 shares during the quarter. IDACORP comprises 0.2% of RW Investment Management LLC’s portfolio, making the stock its 27th biggest holding. RW Investment Management LLC’s holdings in IDACORP were worth $1,206,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Rise Advisors LLC boosted its position in 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 purchasing an additional 146 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of IDACORP during the 2nd quarter worth about $35,000. Mather Group LLC. bought a new stake in shares of IDACORP during the 1st quarter worth about $41,000. Kapitalo Investimentos Ltda acquired a new position in IDACORP in the 4th quarter valued at about $54,000. Finally, EverSource Wealth Advisors LLC raised its holdings in IDACORP by 19.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock valued at $68,000 after acquiring an additional 112 shares during the period. Institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of NYSE IDA opened at $102.22 on Friday. The stock has a market capitalization of $5.44 billion, a PE ratio of 20.53 and a beta of 0.60. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $105.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17. The business has a fifty day moving average price of $100.80 and a two-hundred day moving average price of $95.81.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.34. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. The business had revenue of $451.04 million during the quarter, compared to analysts’ expectations of $420.56 million. During the same quarter in the prior year, the business posted $1.35 earnings per share. As a group, equities analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 5th were paid a $0.83 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.32 dividend on an annualized basis and a yield of 3.25%. IDACORP’s dividend payout ratio (DPR) is 66.67%.

Analysts Set New Price Targets

IDA has been the subject of a number of research analyst reports. Bank of America initiated coverage on IDACORP in a report on Thursday, September 12th. They set a “neutral” rating and a $110.00 price objective for the company. Wells Fargo & Company boosted their price target on IDACORP from $98.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Jefferies Financial Group began coverage on IDACORP in a research report on Friday. They set a “hold” rating and a $110.00 price objective on the stock. Finally, Morgan Stanley lifted their target price on IDACORP from $94.00 to $102.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $102.71.

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.