Anchor Capital Advisors LLC reduced its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 177,582 shares of the energy company's stock after selling 6,279 shares during the period. Anchor Capital Advisors LLC owned about 0.33% of IDACORP worth $19,406,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in IDACORP by 98.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock worth $26,000 after buying an additional 120 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in IDACORP during the third quarter worth approximately $25,000. Versant Capital Management Inc lifted its stake in IDACORP by 2,150.0% during the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock worth $34,000 after purchasing an additional 301 shares during the last quarter. Independence Bank of Kentucky boosted its holdings in IDACORP by 123.6% in the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock valued at $44,000 after purchasing an additional 225 shares in the last quarter. Finally, Avior Wealth Management LLC increased its stake in IDACORP by 35.9% in the third quarter. Avior Wealth Management LLC now owns 443 shares of the energy company's stock valued at $46,000 after purchasing an additional 117 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.
IDACORP Stock Performance
Shares of IDA stock traded down $3.82 during trading hours on Tuesday, reaching $115.22. 254,456 shares of the company's stock were exchanged, compared to its average volume of 302,599. The company's 50 day moving average is $110.62 and its two-hundred day moving average is $108.62. IDACORP, Inc. has a 1 year low of $86.94 and a 1 year high of $120.42. The company has a market cap of $6.22 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65. 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 (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. Equities research analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.
IDACORP Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were given a $0.86 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.99%. IDACORP's dividend payout ratio is presently 62.77%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on IDA. Jefferies Financial Group cut 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 price target on shares of IDACORP from $110.00 to $121.00 and gave the company an "equal weight" rating in a research report on Friday, December 13th. Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Bank of America boosted their price target on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Monday. Finally, StockNews.com cut IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, IDACORP currently has an average rating of "Hold" and an average target price of $118.20.
Check Out Our Latest Analysis on IDA
IDACORP Company Profile
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Free Report)
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.
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