Mutual of America Capital Management LLC Sells 246 Shares of IDACORP, Inc. (NYSE:IDA)

Mutual of America Capital Management LLC lowered its position in shares of IDACORP, Inc. (NYSE:IDA) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,780 shares of the energy company’s stock after selling 246 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of IDACORP worth $2,967,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in IDACORP during the 3rd quarter valued at about $26,000. Rise Advisors LLC raised 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 buying an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in IDACORP in the second quarter valued at approximately $35,000. Eastern Bank bought a new position in IDACORP in the third quarter valued at approximately $52,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in IDACORP during the 2nd quarter worth $71,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of IDA opened at $118.91 on Friday. The stock has a 50 day simple moving average of $106.71 and a 200 day simple moving average of $100.51. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $120.02. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The firm has a market capitalization of $6.33 billion, a PE ratio of 22.06, a P/E/G ratio of 2.64 and a beta of 0.60.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The company had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. During the same quarter last year, the company earned $2.07 EPS. Sell-side analysts predict that IDACORP, Inc. will post 5.42 EPS for the current fiscal year.

IDACORP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be paid a $0.86 dividend. This is an increase from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.89%. IDACORP’s dividend payout ratio (DPR) is currently 63.82%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on IDA shares. Morgan Stanley increased their price target on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and increased their target price for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and upped their price target for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Finally, Jefferies Financial Group started coverage on shares of IDACORP in a research note on Friday, September 20th. They set a “hold” rating and a $110.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $108.83.

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.