IDACORP, Inc. (NYSE:IDA) Shares Sold by Nuance Investments LLC

Nuance Investments LLC lowered its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 28.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 793,134 shares of the energy company's stock after selling 321,341 shares during the quarter. IDACORP comprises approximately 2.7% of Nuance Investments LLC's investment portfolio, making the stock its 14th largest holding. Nuance Investments LLC owned about 1.49% of IDACORP worth $81,764,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IDA. Assenagon Asset Management S.A. bought a new position in IDACORP in the 2nd quarter worth about $8,032,000. Tidal Investments LLC boosted its position in shares of IDACORP by 120.6% during the first quarter. Tidal Investments LLC now owns 9,341 shares of the energy company's stock valued at $867,000 after purchasing an additional 5,106 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in shares of IDACORP by 25.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 256,446 shares of the energy company's stock worth $23,821,000 after acquiring an additional 51,521 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of IDACORP during the second quarter valued at approximately $1,833,000. Finally, GSA Capital Partners LLP bought a new position in IDACORP in the 3rd quarter worth about $3,228,000. Institutional investors own 89.10% of the company's stock.

IDACORP Stock Up 0.2 %

IDACORP stock traded up $0.19 during mid-day trading on Wednesday, hitting $117.96. The company had a trading volume of 260,891 shares, compared to its average volume of 349,326. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 2.61 and a beta of 0.60. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $119.65. The business has a fifty day moving average of $106.09 and a 200 day moving average of $100.19. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. 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. On average, sell-side analysts expect that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.86 per share. The ex-dividend date is Tuesday, November 5th. This is a positive change from IDACORP's previous quarterly dividend of $0.83. This represents a $3.44 annualized dividend and a yield of 2.92%. IDACORP's dividend payout ratio is currently 63.82%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on IDA shares. Bank of America upgraded shares of IDACORP from a "neutral" rating to a "buy" rating and raised their target price for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th. Jefferies Financial Group began coverage on shares of IDACORP in a report on Friday, September 20th. They set a "hold" rating and a $110.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. StockNews.com downgraded IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley upped their price target on IDACORP from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. One 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. According to MarketBeat, 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.