Hantz Financial Services Inc. Sells 7,452 Shares of IDACORP, Inc. (NYSE:IDA)

Hantz Financial Services Inc. reduced its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 44.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,465 shares of the energy company's stock after selling 7,452 shares during the quarter. Hantz Financial Services Inc.'s holdings in IDACORP were worth $976,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new stake in shares of IDACORP during the 3rd quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of IDACORP during the 2nd quarter valued at approximately $35,000. Avior Wealth Management LLC raised 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. Eastern Bank acquired a new stake in shares of IDACORP during the 3rd quarter valued at approximately $52,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of IDACORP during the 2nd quarter valued at approximately $71,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Stock Down 1.3 %

IDA stock traded down $1.59 during mid-day trading on Monday, reaching $116.88. The company had a trading volume of 341,175 shares, compared to its average volume of 349,238. IDACORP, Inc. has a 52 week low of $86.43 and a 52 week high of $120.42. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 2.64 and a beta of 0.60. The stock has a 50 day simple moving average of $108.25 and a two-hundred day simple moving average of $101.26. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34.

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

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be paid a $0.86 dividend. This is a positive change from IDACORP's previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.94%. IDACORP's dividend payout ratio (DPR) is presently 63.82%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Morgan Stanley increased their target price on IDACORP from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 25th. Wells Fargo & Company boosted their price objective on IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. StockNews.com cut IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Bank of America raised IDACORP from a "neutral" rating to a "buy" rating and upped their price target for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group assumed coverage on IDACORP in a report on Friday, September 20th. They issued a "hold" rating and a $110.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, IDACORP has a consensus 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.