William Blair Investment Management LLC Sells 597 Shares of IDACORP, Inc. (NYSE:IDA)

William Blair Investment Management LLC trimmed its stake in IDACORP, Inc. (NYSE:IDA) by 0.2% in the 4th quarter, HoldingsChannel reports. The fund owned 380,068 shares of the energy company’s stock after selling 597 shares during the quarter. William Blair Investment Management LLC’s holdings in IDACORP were worth $41,534,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Diversified Trust Co bought a new position in shares of IDACORP in the 4th quarter worth $704,000. Algert Global LLC increased its position in IDACORP by 42.5% during the 3rd quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock valued at $3,648,000 after buying an additional 10,550 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in IDACORP by 67.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock valued at $4,918,000 after buying an additional 19,274 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in IDACORP by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock valued at $71,368,000 after buying an additional 35,651 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in IDACORP during the 4th quarter valued at about $913,000. 89.10% of the stock is owned by institutional investors.

IDACORP Stock Up 0.0 %

Shares of IDA stock opened at $116.01 on Tuesday. The stock’s 50-day simple moving average is $111.69 and its 200-day simple moving average is $109.52. 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 $6.26 billion, a PE ratio of 21.17, a P/E/G ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a fifty-two week low of $88.70 and a fifty-two week high of $120.42.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating 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. Equities analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.97%. IDACORP’s payout ratio is 62.77%.

Analyst Upgrades and Downgrades

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

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.