Boston Trust Walden Corp Trims Stake in IDACORP, Inc. (NYSE:IDA)

Boston Trust Walden Corp reduced its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 563,332 shares of the energy company's stock after selling 12,857 shares during the period. Boston Trust Walden Corp owned 1.06% of IDACORP worth $58,074,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IDA. Wealth Enhancement Advisory Services LLC lifted its holdings in IDACORP by 7.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the energy company's stock valued at $532,000 after purchasing an additional 372 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of IDACORP by 3.5% during the 3rd quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the energy company's stock valued at $1,526,000 after purchasing an additional 500 shares during the period. Allworth Financial LP raised its position in shares of IDACORP by 33.7% during the 3rd quarter. Allworth Financial LP now owns 2,847 shares of the energy company's stock valued at $293,000 after purchasing an additional 717 shares during the period. Moody Aldrich Partners LLC lifted its stake in shares of IDACORP by 33.7% during the 3rd quarter. Moody Aldrich Partners LLC now owns 4,102 shares of the energy company's stock valued at $423,000 after buying an additional 1,035 shares in the last quarter. Finally, Eastern Bank bought a new position in IDACORP in the 3rd quarter worth $52,000. 89.10% of the stock is currently owned by institutional investors.

IDACORP Price Performance

Shares of NYSE IDA traded down $1.13 during midday trading on Friday, reaching $103.65. 168,777 shares of the stock traded hands, compared to its average volume of 208,360. The company's 50 day moving average is $102.82 and its 200 day moving average is $97.84. IDACORP, Inc. has a one year low of $86.43 and a one year high of $105.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17. The stock has a market capitalization of $5.52 billion, a PE ratio of 19.41, a P/E/G ratio of 3.49 and a beta of 0.60.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.34. The business had revenue of $451.04 million during the quarter, compared to analysts' expectations of $420.56 million. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. During the same period last year, the company posted $1.35 EPS. On average, equities research analysts anticipate that IDACORP, Inc. will post 5.38 earnings per share for the current year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 3.32%. This is a positive change from IDACORP's previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, November 5th. IDACORP's dividend payout ratio (DPR) is presently 62.17%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IDA shares. Wells Fargo & Company boosted their price objective on IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Morgan Stanley boosted their price target on IDACORP from $102.00 to $108.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. Jefferies Financial Group assumed coverage on shares of IDACORP in a report on Friday, September 20th. They set a "hold" rating and a $110.00 price objective for the company. Finally, Bank of America started coverage on shares of IDACORP in a report on Thursday, September 12th. They issued a "neutral" rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $104.83.

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.