Nuance Investments LLC Reduces Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Nuance Investments LLC cut its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 51.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 384,317 shares of the energy company's stock after selling 408,817 shares during the quarter. IDACORP comprises 1.7% of Nuance Investments LLC's investment portfolio, making the stock its 20th biggest position. Nuance Investments LLC owned about 0.72% of IDACORP worth $41,998,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of IDA. M&T Bank Corp boosted its holdings in shares of IDACORP by 0.8% during the 3rd quarter. M&T Bank Corp now owns 10,992 shares of the energy company's stock worth $1,133,000 after purchasing an additional 92 shares during the last quarter. AMG National Trust Bank lifted its position in IDACORP by 0.6% during the fourth quarter. AMG National Trust Bank now owns 15,248 shares of the energy company's stock worth $1,670,000 after buying an additional 98 shares in the last quarter. CENTRAL TRUST Co boosted its stake in IDACORP by 13.7% during the fourth quarter. CENTRAL TRUST Co now owns 832 shares of the energy company's stock worth $91,000 after buying an additional 100 shares during the last quarter. Pitcairn Co. grew its holdings in IDACORP by 2.3% in the 3rd quarter. Pitcairn Co. now owns 4,801 shares of the energy company's stock valued at $495,000 after buying an additional 107 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its stake in shares of IDACORP by 4.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company's stock worth $311,000 after acquiring an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

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IDACORP Trading Up 0.5 %

IDACORP stock traded up $0.58 during trading on Friday, hitting $115.08. The company had a trading volume of 386,835 shares, compared to its average volume of 326,269. 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 company's 50 day simple moving average is $112.80 and its 200-day simple moving average is $110.19. IDACORP, Inc. has a 1-year low of $88.70 and a 1-year high of $120.42. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The firm had revenue of $398.13 million for the quarter, compared to the consensus estimate of $403.21 million. As a group, analysts expect that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.