IDACORP, Inc. (NYSE:IDA) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. trimmed its stake in shares of IDACORP, Inc. (NYSE:IDA) by 36.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,072 shares of the energy company’s stock after selling 2,870 shares during the period. D.A. Davidson & CO.’s holdings in IDACORP were worth $523,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of IDA. Clean Energy Transition LLP purchased a new stake in IDACORP during the second quarter valued at about $49,103,000. Nuance Investments LLC raised its holdings in shares of IDACORP by 19.0% during the second quarter. Nuance Investments LLC now owns 1,114,475 shares of the energy company’s stock valued at $103,813,000 after acquiring an additional 178,294 shares during the period. Deprince Race & Zollo Inc. lifted its position in shares of IDACORP by 30.8% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 576,136 shares of the energy company’s stock valued at $53,667,000 after acquiring an additional 135,793 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in IDACORP in the 2nd quarter worth approximately $8,032,000. Finally, F M Investments LLC purchased a new position in IDACORP during the 2nd quarter worth approximately $5,236,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Down 0.3 %

IDA opened at $116.48 on Wednesday. The company has a market capitalization of $6.20 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 2.60 and a beta of 0.64. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $120.42. The business has a 50-day moving average of $108.52 and a 200-day moving average of $101.39.

IDACORP (NYSE:IDA) last issued its quarterly earnings data 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). The business had revenue of $528.53 million for the quarter, compared to the consensus estimate of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same period in the previous year, the business posted $2.07 EPS. Equities research analysts forecast that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 5th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Tuesday, November 5th. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s payout ratio is presently 63.82%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IDA. Bank of America upgraded 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 report on Tuesday, November 5th. StockNews.com downgraded IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Morgan Stanley lifted their target price on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company increased their price target on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $102.00 to $116.00 in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.