Amalgamated Bank Decreases Holdings in IDACORP, Inc. (NYSE:IDA)

Amalgamated Bank lessened its holdings in IDACORP, Inc. (NYSE:IDA) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,149 shares of the energy company’s stock after selling 394 shares during the quarter. Amalgamated Bank owned 0.06% of IDACORP worth $2,808,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings 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 valued at $63,829,000 after acquiring an additional 61,546 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of IDACORP by 16.6% in the fourth quarter. D.A. Davidson & CO. now owns 3,660 shares of the energy company’s stock worth $360,000 after acquiring an additional 521 shares during the last quarter. Franklin Resources Inc. increased its position in shares of IDACORP by 13.6% during the fourth quarter. Franklin Resources Inc. now owns 344,823 shares of the energy company’s stock worth $33,903,000 after purchasing an additional 41,168 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake 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 purchasing an additional 112 shares during the last quarter. Finally, US Bancorp DE boosted its stake in IDACORP by 53.0% during the 4th quarter. US Bancorp DE now owns 23,497 shares of the energy company’s stock worth $2,310,000 after purchasing an additional 8,139 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IDA. Jefferies Financial Group began coverage on shares of IDACORP in a research note on Friday. They issued a “hold” rating and a $110.00 price target on the stock. Bank of America assumed coverage on IDACORP in a report on Thursday, September 12th. They issued a “neutral” rating and a $110.00 price target for the company. Wells Fargo & Company boosted 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 lifted their price target 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 assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $102.71.

IDACORP Stock Up 0.9 %

Shares of NYSE:IDA opened at $103.18 on Tuesday. The business has a 50-day moving average price of $101.00 and a 200 day moving average price of $95.97. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $105.24. 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 company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 20.72 and a beta of 0.60.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 EPS 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 firm had revenue of $451.04 million for the quarter, compared to analyst estimates of $420.56 million. During the same period in the prior year, the business posted $1.35 EPS. Sell-side analysts expect that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 5th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Monday, August 5th. IDACORP’s dividend payout ratio (DPR) is 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.