Connor Clark & Lunn Investment Management Ltd. Has $4.73 Million Holdings in IDACORP, Inc. (NYSE:IDA)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of IDACORP, Inc. (NYSE:IDA) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,324 shares of the energy company’s stock after selling 4,383 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of IDACORP worth $4,734,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Atria Investments Inc lifted its holdings in IDACORP by 3.1% during the third quarter. Atria Investments Inc now owns 9,765 shares of the energy company’s stock worth $1,007,000 after acquiring an additional 297 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of IDACORP by 57.4% in the third quarter. Crossmark Global Holdings Inc. now owns 5,415 shares of the energy company’s stock worth $558,000 after acquiring an additional 1,975 shares in the last quarter. Natixis Advisors LLC increased its stake in IDACORP by 6.9% during the 3rd quarter. Natixis Advisors LLC now owns 56,648 shares of the energy company’s stock worth $5,840,000 after purchasing an additional 3,649 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in IDACORP by 2.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,511 shares of the energy company’s stock worth $1,290,000 after buying an additional 262 shares during the period. Finally, Pathstone Holdings LLC raised its holdings in IDACORP by 18.1% during the 3rd quarter. Pathstone Holdings LLC now owns 26,296 shares of the energy company’s stock worth $2,711,000 after buying an additional 4,023 shares during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Price Performance

Shares of IDA opened at $116.05 on Monday. The stock has a market capitalization of $6.26 billion, a P/E ratio of 21.18, a P/E/G ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a twelve month low of $88.70 and a twelve month high of $120.42. The company has a 50 day moving average of $111.52 and a 200-day moving average of $109.41. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million during the quarter, compared to analysts’ expectations of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. As a group, equities research analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were paid a $0.86 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.96%. IDACORP’s dividend payout ratio is presently 62.77%.

Analysts Set New Price Targets

IDA has been the topic of several research analyst reports. Bank of America raised their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Jefferies Financial Group dropped their target price on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Morgan Stanley raised their target price on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Finally, Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $118.20.

IDACORP 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.