First Trust Advisors LP Has $61.31 Million Stock Position in IDACORP, Inc. (NYSE:IDA)

First Trust Advisors LP cut its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 561,073 shares of the energy company's stock after selling 57,086 shares during the period. First Trust Advisors LP owned 1.05% of IDACORP worth $61,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB raised its position 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 purchasing an additional 120 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of IDACORP by 2,150.0% in the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock valued at $34,000 after buying an additional 301 shares during the period. Independence Bank of Kentucky raised its position in shares of IDACORP by 123.6% during the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock worth $44,000 after acquiring an additional 225 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of IDACORP during the fourth quarter valued at $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in IDACORP in the third quarter valued at about $53,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com raised IDACORP from a "sell" rating to a "hold" rating in a report on Tuesday. UBS Group raised their price objective on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Guggenheim raised shares of IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Morgan Stanley increased their price target on IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Finally, Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, IDACORP currently has an average rating of "Moderate Buy" and a consensus target price of $120.50.

IDACORP Price Performance

IDA opened at $117.98 on Wednesday. The stock has a market cap of $6.37 billion, a P/E ratio of 21.53, a P/E/G ratio of 2.32 and a beta of 0.56. IDACORP, Inc. has a 12 month low of $90.64 and a 12 month high of $123.00. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The company has a fifty day simple moving average of $115.32 and a 200 day simple moving average of $111.97.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings results 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. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The company had revenue of $398.13 million during the quarter, compared to analysts' expectations of $403.21 million. On average, research analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Monday, May 5th. IDACORP's dividend payout ratio is 62.77%.

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.

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