Corebridge Financial Inc. Sells 2,680 Shares of IDACORP, Inc. (NYSE:IDA)

Corebridge Financial Inc. trimmed its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,275 shares of the energy company's stock after selling 2,680 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of IDACORP worth $6,587,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its holdings in shares of IDACORP by 2.1% during the third quarter. Thrivent Financial for Lutherans now owns 12,511 shares of the energy company's stock valued at $1,290,000 after acquiring an additional 262 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in IDACORP by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company's stock valued at $71,368,000 after purchasing an additional 35,651 shares during the period. Cerity Partners LLC grew its position in IDACORP by 19.1% in the 3rd quarter. Cerity Partners LLC now owns 23,515 shares of the energy company's stock valued at $2,424,000 after purchasing an additional 3,763 shares during the period. Bank of Montreal Can increased its stake in IDACORP by 18.6% during the 3rd quarter. Bank of Montreal Can now owns 21,970 shares of the energy company's stock valued at $2,268,000 after purchasing an additional 3,453 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in IDACORP by 1.4% during the third quarter. The Manufacturers Life Insurance Company now owns 44,313 shares of the energy company's stock worth $4,568,000 after buying an additional 627 shares during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Guggenheim raised IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Morgan Stanley increased their price objective on IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Bank of America lifted their target price on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Finally, Jefferies Financial Group lowered their price target on IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, IDACORP currently has an average rating of "Hold" and a consensus target price of $120.50.

IDACORP Stock Performance

Shares of IDA traded up $0.58 on Friday, reaching $115.08. 386,835 shares of the company's stock traded hands, compared to its average volume of 326,269. The stock's 50 day simple moving average is $112.80 and its two-hundred day simple moving average is $110.24. 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 52-week low of $88.70 and a 52-week high of $120.42. The stock has a market cap of $6.21 billion, a PE ratio of 21.00, a PEG ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. The company had revenue of $398.13 million for the quarter, compared to analysts' expectations of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. On average, analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were issued a $0.86 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.99%. IDACORP's dividend payout ratio (DPR) is presently 62.77%.

IDACORP Company 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.