Corient Private Wealth LLC Sells 4,534 Shares of IDACORP, Inc. (NYSE:IDA)

Corient Private Wealth LLC cut its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 49.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,604 shares of the energy company's stock after selling 4,534 shares during the quarter. Corient Private Wealth LLC's holdings in IDACORP were worth $503,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in IDACORP during the third quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB increased its position in shares of IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock valued at $26,000 after purchasing an additional 120 shares during the period. Versant Capital Management Inc raised its stake in shares of IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock valued at $34,000 after purchasing an additional 301 shares in the last quarter. Independence Bank of Kentucky lifted its position in IDACORP by 123.6% in the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock worth $44,000 after purchasing an additional 225 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in IDACORP during the fourth quarter worth $45,000. Institutional investors own 89.10% of the company's stock.

IDACORP Price Performance

IDA stock traded up $1.88 during midday trading on Wednesday, reaching $119.27. 304,186 shares of the company's stock traded hands, compared to its average volume of 326,451. The company has a 50-day simple moving average of $113.26 and a two-hundred day simple moving average of $110.49. 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, Inc. has a 1-year low of $88.70 and a 1-year high of $120.42. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.32 and a beta of 0.59.

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IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results 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. The company had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. On average, analysts anticipate 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 given a dividend of $0.86 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.88%. IDACORP's payout ratio is 62.77%.

Analyst Ratings Changes

Several brokerages have recently weighed in on IDA. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday. Morgan Stanley lifted their price objective on IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. UBS Group raised their target price on IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Guggenheim raised IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Bank of America increased their price objective on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $120.50.

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.