IDACORP, Inc. (NYSE:IDA) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 6.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 462,570 shares of the energy company's stock after selling 32,050 shares during the quarter. Franklin Resources Inc. owned approximately 0.87% of IDACORP worth $50,550,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its stake 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. Legacy Investment Solutions LLC purchased a new stake in IDACORP in the 3rd quarter valued at about $25,000. Versant Capital Management Inc grew its stake in IDACORP by 2,150.0% in the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock worth $34,000 after acquiring an additional 301 shares in the last quarter. Independence Bank of Kentucky increased 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 period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of IDACORP during the third quarter valued at approximately $53,000. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Stock Down 0.3 %

Shares of IDA stock traded down $0.34 during mid-day trading on Thursday, hitting $114.40. 81,161 shares of the stock traded hands, compared to its average volume of 328,144. IDACORP, Inc. has a 52-week low of $88.70 and a 52-week high of $120.84. The stock has a market cap of $6.18 billion, a P/E ratio of 20.96, a P/E/G ratio of 2.32 and a beta of 0.56. 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 stock's fifty day moving average is $114.06 and its two-hundred day moving average is $111.01.

Remove Ads

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping 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 firm had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. Equities analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP's dividend payout ratio is currently 62.77%.

Analyst Ratings Changes

Several research analysts recently issued reports on IDA shares. 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. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Morgan Stanley upped their price objective on shares of IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. UBS Group increased their target price on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $120.50.

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.