Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Reaves W H & Co. Inc. boosted its position in shares of IDACORP by 75.4% in the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock valued at $109,103,000 after acquiring an additional 429,276 shares during the period. Wellington Management Group LLP boosted its holdings in IDACORP by 17.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company's stock valued at $246,367,000 after purchasing an additional 359,553 shares during the period. Raymond James Financial Inc. acquired a new position in shares of IDACORP during the 4th quarter worth approximately $37,104,000. State Street Corp increased its holdings in shares of IDACORP by 5.5% during the third quarter. State Street Corp now owns 1,656,697 shares of the energy company's stock worth $170,789,000 after purchasing an additional 86,642 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of IDACORP by 14.2% in the fourth quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company's stock valued at $59,509,000 after buying an additional 67,568 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors.
IDACORP Price Performance
IDA stock traded down $0.52 during trading on Thursday, reaching $116.24. 189,327 shares of the company were exchanged, compared to its average volume of 314,738. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 21.21, a P/E/G ratio of 2.32 and a beta of 0.59. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The company has a 50-day moving average of $111.95 and a two-hundred day moving average of $109.66. IDACORP, Inc. has a twelve month low of $88.70 and a twelve month high of $120.42.
IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million for the quarter, compared to the consensus estimate of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. As a group, equities analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.
IDACORP Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were issued a $0.86 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.96%. IDACORP's payout ratio is 62.77%.
Analyst Ratings Changes
A number of equities analysts have commented on IDA shares. Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. 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 research report on Monday, March 3rd. Morgan Stanley raised their target price on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Jefferies Financial Group cut their price target on shares of IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. One 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. Based on data from MarketBeat, IDACORP presently has an average rating of "Hold" and an average price target of $120.20.
Check Out Our Latest Stock Report on IDACORP
IDACORP Profile
(
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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