IDACORP, Inc. (NYSE:IDA) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,297 shares of the energy company's stock after selling 9,700 shares during the period. Nisa Investment Advisors LLC owned 0.19% of IDACORP worth $10,237,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in shares of IDACORP during the third quarter worth approximately $26,000. Rise Advisors LLC raised 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 buying an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of IDACORP in the second quarter worth about $35,000. Eastern Bank purchased a new stake in IDACORP during the 3rd quarter valued at about $52,000. Finally, 1620 Investment Advisors Inc. purchased a new position in IDACORP in the 2nd quarter worth approximately $71,000. Institutional investors and hedge funds own 89.10% of the company's stock.

IDACORP Trading Up 1.3 %

IDACORP stock traded up $1.32 during midday trading on Thursday, reaching $103.48. 522,147 shares of the stock traded hands, compared to its average volume of 337,789. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 0.87. The firm has a market cap of $5.51 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 3.49 and a beta of 0.60. The company has a 50-day simple moving average of $102.81 and a two-hundred day simple moving average of $98.11. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $105.25.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.34. The business had revenue of $451.04 million for 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 in the prior year, the business posted $1.35 EPS. Research analysts expect that IDACORP, Inc. will post 5.38 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.86 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.32%. This is a boost from IDACORP's previous quarterly dividend of $0.83. IDACORP's dividend payout ratio (DPR) is presently 64.42%.

Analyst Ratings Changes

Several analysts have issued reports on IDA shares. Wells Fargo & Company upped their target price on IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. StockNews.com raised shares of IDACORP from a "sell" rating to a "hold" rating in a report on Tuesday. Morgan Stanley lifted their target price on shares of IDACORP from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. Jefferies Financial Group assumed coverage on shares of IDACORP in a research note on Friday, September 20th. They issued a "hold" rating and a $110.00 price target for the company. Finally, Bank of America began coverage on shares of IDACORP in a research report on Thursday, September 12th. They set a "neutral" rating and a $110.00 price target on the stock. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat, IDACORP currently has an average rating of "Hold" and a consensus 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.