IDACORP, Inc. (NYSE:IDA) Position Trimmed by Quarry LP

Quarry LP trimmed its stake in IDACORP, Inc. (NYSE:IDA) by 50.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,016 shares of the energy company’s stock after selling 1,035 shares during the quarter. Quarry LP’s holdings in IDACORP were worth $111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Diversified Trust Co acquired a new position in IDACORP in the 4th quarter valued at approximately $704,000. Assenagon Asset Management S.A. acquired a new position in shares of IDACORP in the fourth quarter worth $913,000. JPMorgan Chase & Co. increased its stake in shares of IDACORP by 7.0% in the third quarter. JPMorgan Chase & Co. now owns 343,400 shares of the energy company’s stock worth $35,401,000 after acquiring an additional 22,485 shares during the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of IDACORP during the fourth quarter worth $213,000. Finally, Van ECK Associates Corp boosted its position in IDACORP by 14.2% during the fourth quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company’s stock valued at $1,809,000 after purchasing an additional 2,056 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IDA shares. StockNews.com raised IDACORP from a “sell” rating to a “hold” rating in a research note on Tuesday, April 22nd. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group raised shares of IDACORP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 2nd. UBS Group raised their price target on shares of IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Finally, Bank of America upped their price objective on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.50.

IDACORP Stock Performance

NYSE:IDA opened at $117.65 on Wednesday. The firm has a market capitalization of $6.36 billion, a PE ratio of 21.47, a PEG ratio of 2.32 and a beta of 0.56. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a 1 year low of $90.64 and a 1 year high of $120.84. The firm’s fifty day simple moving average is $115.94 and its 200 day simple moving average is $112.54.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The business had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. On average, sell-side analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be given a $0.86 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.92%. IDACORP’s dividend payout ratio is 62.77%.

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.