Holocene Advisors LP Sells 5,743 Shares of IDACORP, Inc. (NYSE:IDA)

Holocene Advisors LP trimmed its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 15.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,945 shares of the energy company's stock after selling 5,743 shares during the period. Holocene Advisors LP owned 0.06% of IDACORP worth $3,190,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Clean Energy Transition LLP purchased a new stake in IDACORP in the second quarter worth about $49,103,000. Nuance Investments LLC lifted its stake in shares of IDACORP by 19.0% in the 2nd quarter. Nuance Investments LLC now owns 1,114,475 shares of the energy company's stock valued at $103,813,000 after purchasing an additional 178,294 shares during the period. Deprince Race & Zollo Inc. boosted its position in shares of IDACORP by 30.8% during the second quarter. Deprince Race & Zollo Inc. now owns 576,136 shares of the energy company's stock valued at $53,667,000 after purchasing an additional 135,793 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in IDACORP in the second quarter worth $8,032,000. Finally, F M Investments LLC bought a new position in IDACORP in the second quarter worth $5,236,000. Institutional investors own 89.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of IDACORP from $102.00 to $108.00 and gave the company an "equal weight" rating in a report on Wednesday, September 25th. Bank of America raised shares of IDACORP from a "neutral" rating to a "buy" rating and raised their target price for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. Jefferies Financial Group assumed coverage on IDACORP in a research report on Friday, September 20th. They issued a "hold" rating and a $110.00 price target on the stock. Wells Fargo & Company lifted their price objective on IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Finally, StockNews.com cut IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $108.83.

IDACORP Stock Performance

IDA stock traded down $0.87 on Friday, hitting $115.12. The company had a trading volume of 195,144 shares, compared to its average volume of 346,923. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $120.42. The stock has a market cap 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. The stock's 50-day simple moving average is $109.34 and its 200 day simple moving average is $101.71.

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 (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 firm had revenue of $528.53 million during the quarter, compared to analysts' expectations of $524.39 million. During the same quarter last year, the business earned $2.07 earnings per share. As a group, equities research analysts expect that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 5th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.99%. This is a positive change from IDACORP's previous quarterly dividend of $0.83. The ex-dividend date was Tuesday, November 5th. IDACORP's payout ratio is 63.82%.

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.