Renaissance Technologies LLC Lowers Position in IDACORP, Inc. (NYSE:IDA)

Renaissance Technologies LLC trimmed its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 24.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,300 shares of the energy company's stock after selling 12,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.07% of IDACORP worth $3,568,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rise Advisors LLC grew its position in shares of IDACORP by 65.8% in the second quarter. Rise Advisors LLC now owns 368 shares of the energy company's stock valued at $34,000 after purchasing an additional 146 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in IDACORP during the 2nd quarter valued at $35,000. Mather Group LLC. bought a new position in shares of IDACORP in the first quarter valued at approximately $41,000. Kapitalo Investimentos Ltda bought a new stake in IDACORP in the fourth quarter worth about $54,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of IDACORP in the 2nd quarter worth $71,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Stock Down 0.2 %

IDA traded down $0.19 during midday trading on Monday, reaching $103.03. 178,593 shares of the company were exchanged, compared to its average volume of 351,339. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 1.55. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 3.46 and a beta of 0.60. IDACORP, Inc. has a one year low of $86.43 and a one year high of $105.24. The company's fifty day moving average price is $101.79 and its 200 day moving average price is $96.40.

IDACORP (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.37 by $0.34. The business had revenue of $451.04 million during the quarter, compared to the consensus estimate of $420.56 million. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. During the same quarter last year, the company earned $1.35 EPS. As a group, analysts expect that IDACORP, Inc. will post 5.39 EPS for the current year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 5th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.32 dividend on an annualized basis and a yield of 3.22%. IDACORP's dividend payout ratio (DPR) is currently 66.67%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on IDA shares. Bank of America began coverage on IDACORP in a research report on Thursday, September 12th. They set a "neutral" rating and a $110.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of IDACORP from $98.00 to $106.00 and gave the stock an "equal weight" rating in a report on Friday, August 2nd. Morgan Stanley raised their target price on IDACORP from $102.00 to $108.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group began coverage on IDACORP in a research note on Friday, September 20th. They issued a "hold" rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $103.57.

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.