First Eagle Investment Management LLC Sells 11,518 Shares of IDACORP, Inc. (NYSE:IDA)

First Eagle Investment Management LLC lessened its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,080 shares of the energy company's stock after selling 11,518 shares during the period. First Eagle Investment Management LLC owned 0.22% of IDACORP worth $13,013,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of IDA. MassMutual Private Wealth & Trust FSB raised its holdings in IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock worth $26,000 after acquiring an additional 120 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of IDACORP during the 3rd quarter worth about $25,000. Versant Capital Management Inc boosted its position in shares of IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock valued at $34,000 after acquiring an additional 301 shares in the last quarter. Independence Bank of Kentucky boosted its position in shares of IDACORP by 123.6% during the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock valued at $44,000 after acquiring an additional 225 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its position in shares of IDACORP by 35.9% during the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company's stock valued at $46,000 after acquiring an additional 117 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

Remove Ads

IDACORP Trading Up 0.8 %

Shares of IDA traded up $0.98 on Wednesday, reaching $116.87. 266,514 shares of the company's stock were exchanged, compared to its average volume of 315,987. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $6.31 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The business has a 50 day moving average price of $111.82 and a two-hundred day moving average price of $109.61. IDACORP, Inc. has a 12 month low of $88.70 and a 12 month high of $120.42.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. The business had revenue of $398.13 million during the quarter, compared to the consensus estimate of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. Research analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP's dividend payout ratio (DPR) is 62.77%.

Wall Street Analyst Weigh In

A number of research firms have commented on IDA. Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Morgan Stanley upped their target price on shares of IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Friday, December 13th. Jefferies Financial Group reduced their target price on shares of IDACORP from $129.00 to $118.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Finally, Bank of America upped their target price 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $118.20.

About IDACORP

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.