Amalgamated Bank Lowers Stake in IDACORP, Inc. (NYSE:IDA)

Amalgamated Bank trimmed its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 16.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 25,263 shares of the energy company's stock after selling 4,886 shares during the period. Amalgamated Bank's holdings in IDACORP were worth $2,604,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IDA. V Square Quantitative Management LLC bought a new position in shares of IDACORP during the 3rd quarter valued at approximately $26,000. Rise Advisors LLC grew its position in shares of IDACORP by 65.8% during the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company's stock valued at $34,000 after acquiring an additional 146 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of IDACORP during the 2nd quarter valued at approximately $35,000. Eastern Bank bought a new position in shares of IDACORP during the 3rd quarter valued at approximately $52,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of IDACORP during the 2nd quarter valued at approximately $71,000. 89.10% of the stock is owned by institutional investors.

IDACORP Price Performance

NYSE IDA traded up $3.19 on Monday, hitting $117.02. The stock had a trading volume of 582,631 shares, compared to its average volume of 349,058. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $117.26. 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 company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. The firm has a 50-day moving average of $104.13 and a 200-day moving average of $99.12.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $524.39 million. During the same quarter in the prior year, the company earned $2.07 earnings per share. Equities analysts expect that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.86 per share. 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%. This is a boost from IDACORP's previous quarterly dividend of $0.83. IDACORP's dividend payout ratio (DPR) is 63.82%.

Analysts Set New Price Targets

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