IDACORP, Inc. (NYSE:IDA) Stake Reduced by Fmr LLC

FMR LLC cut its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 9.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 730,631 shares of the energy company's stock after selling 72,097 shares during the quarter. FMR LLC owned approximately 1.37% of IDACORP worth $75,321,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IDA. Trust Point Inc. boosted its stake in IDACORP by 1.4% in the 3rd quarter. Trust Point Inc. now owns 7,374 shares of the energy company's stock worth $760,000 after buying an additional 101 shares during the last quarter. Blue Trust Inc. boosted its position in shares of IDACORP by 7.5% in the third quarter. Blue Trust Inc. now owns 1,523 shares of the energy company's stock worth $157,000 after acquiring an additional 106 shares during the last quarter. Raymond James Trust N.A. grew its holdings in IDACORP by 1.7% in the second quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company's stock valued at $597,000 after purchasing an additional 107 shares during the period. Pitcairn Co. grew its stake in shares of IDACORP by 2.3% during the 3rd quarter. Pitcairn Co. now owns 4,801 shares of the energy company's stock valued at $495,000 after buying an additional 107 shares during the period. Finally, Fortem Financial Group LLC increased its stake in IDACORP by 1.2% during the second quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company's stock worth $866,000 after acquiring an additional 112 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

IDACORP Stock Down 0.8 %

Shares of IDA stock traded down $0.87 during trading hours on Friday, hitting $115.12. 195,144 shares of the company were exchanged, compared to its average volume of 346,923. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 2.59 and a beta of 0.64. IDACORP, Inc. has a one year low of $86.43 and a one year high of $120.42. The business's 50-day simple moving average is $109.34 and its two-hundred day simple moving average is $101.71.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.17 by ($0.05). IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The business had revenue of $528.53 million during the quarter, compared to the consensus estimate of $524.39 million. During the same quarter in the previous year, the business posted $2.07 earnings per share. Sell-side analysts predict that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 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 2.99%. The ex-dividend date was Tuesday, November 5th. This is a positive change from IDACORP's previous quarterly dividend of $0.83. IDACORP's dividend payout ratio (DPR) is currently 63.82%.

Analyst Ratings Changes

A number of research firms recently issued reports on IDA. Mizuho raised shares of IDACORP from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. StockNews.com lowered shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Jefferies Financial Group began coverage on IDACORP in a report on Friday, September 20th. They issued a "hold" rating and a $110.00 price target for the company. Bank of America upgraded IDACORP from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. Finally, Morgan Stanley increased their target price on IDACORP from $102.00 to $108.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $108.83.

IDACORP 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.