IDACORP, Inc. (NYSE:IDA) Shares Sold by Invesco Ltd.

Invesco Ltd. trimmed its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,864 shares of the energy company's stock after selling 13,187 shares during the quarter. Invesco Ltd. owned about 0.44% of IDACORP worth $25,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of IDACORP by 98.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock valued at $26,000 after acquiring an additional 120 shares during the last quarter. Versant Capital Management Inc increased its position in IDACORP by 2,150.0% during the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock valued at $34,000 after acquiring an additional 301 shares during the last quarter. Independence Bank of Kentucky boosted its position in IDACORP by 123.6% in the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock worth $44,000 after purchasing an additional 225 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of IDACORP during the 3rd quarter valued at about $53,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of IDACORP by 1,333.3% in the 4th quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock worth $56,000 after purchasing an additional 480 shares during the period. 89.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on IDA. UBS Group lifted their target price on IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Guggenheim raised IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Bank of America boosted 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. StockNews.com upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a report on Tuesday. Finally, Morgan Stanley boosted their target price on IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $120.50.

IDACORP Stock Up 1.5 %

Shares of IDA stock traded up $1.76 during trading hours on Thursday, reaching $118.04. 98,343 shares of the company's stock were exchanged, compared to its average volume of 329,325. The stock has a market cap of $6.38 billion, a PE ratio of 21.54, a PEG ratio of 2.32 and a beta of 0.56. IDACORP, Inc. has a 1 year low of $90.64 and a 1 year high of $120.84. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The stock's fifty day moving average price is $115.46 and its two-hundred day moving average price is $112.00.

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

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be issued a $0.86 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.91%. IDACORP's payout ratio is 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.