Ceredex Value Advisors LLC Sells 25,300 Shares of IDACORP, Inc. (NYSE:IDA)

Ceredex Value Advisors LLC trimmed its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 13.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,737 shares of the energy company's stock after selling 25,300 shares during the period. Ceredex Value Advisors LLC owned about 0.30% of IDACORP worth $16,364,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of IDA. Victory Capital Management Inc. raised its position in IDACORP by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,445,991 shares of the energy company's stock valued at $134,694,000 after purchasing an additional 23,925 shares during the last quarter. Nuance Investments LLC boosted its holdings in IDACORP by 19.0% in the second quarter. Nuance Investments LLC now owns 1,114,475 shares of the energy company's stock valued at $103,813,000 after acquiring an additional 178,294 shares in the last quarter. Dimensional Fund Advisors LP increased its position in IDACORP by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 693,327 shares of the energy company's stock valued at $64,583,000 after purchasing an additional 47,527 shares during the period. Boston Trust Walden Corp raised its holdings in IDACORP by 1.3% in the 2nd quarter. Boston Trust Walden Corp now owns 576,189 shares of the energy company's stock worth $53,672,000 after purchasing an additional 7,194 shares in the last quarter. Finally, Deprince Race & Zollo Inc. lifted its position in shares of IDACORP by 30.8% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 576,136 shares of the energy company's stock worth $53,667,000 after purchasing an additional 135,793 shares during the period. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Stock Up 2.3 %

IDACORP stock traded up $2.37 during mid-day trading on Friday, reaching $105.85. The stock had a trading volume of 1,243,633 shares, compared to its average volume of 342,061. IDACORP, Inc. has a one year low of $86.43 and a one year high of $109.47. The company has a 50-day moving average price of $102.92 and a two-hundred day moving average price of $98.25. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 3.43 and a beta of 0.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17.

IDACORP (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.05). The firm had revenue of $528.53 million during the quarter, compared to the consensus estimate of $524.39 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 company posted $2.07 EPS. On average, analysts expect that IDACORP, Inc. will post 5.39 EPS for the current fiscal year.

IDACORP Increases Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 annualized dividend and a dividend yield of 3.25%. This is a boost from IDACORP's previous quarterly dividend of $0.83. IDACORP's payout ratio is currently 62.17%.

Analysts Set New Price Targets

A number of research firms recently issued reports on IDA. StockNews.com raised shares of IDACORP from a "sell" rating to a "hold" rating in a research note on Tuesday. Bank of America began coverage on IDACORP in a research note on Thursday, September 12th. They issued a "neutral" rating and a $110.00 target price for the company. Wells Fargo & Company upped their price target on IDACORP from $106.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Morgan Stanley raised their price objective on IDACORP from $102.00 to $108.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th. Finally, 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. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $107.67.

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.