Allspring Global Investments Holdings LLC Has $176,000 Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Allspring Global Investments Holdings LLC lessened its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 99.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,705 shares of the energy company's stock after selling 250,846 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in IDACORP were worth $176,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in IDACORP in the third quarter valued at approximately $26,000. Rise Advisors LLC boosted its position in shares of IDACORP by 65.8% in the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company's stock worth $34,000 after purchasing an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of IDACORP during the second quarter worth $35,000. 1620 Investment Advisors Inc. acquired a new stake in shares of IDACORP during the second quarter worth $71,000. Finally, EverSource Wealth Advisors LLC increased its holdings in IDACORP by 18.3% in the first quarter. EverSource Wealth Advisors LLC now owns 816 shares of the energy company's stock valued at $77,000 after purchasing an additional 126 shares during the last quarter. 89.10% of the stock is owned by institutional investors.

IDACORP Stock Up 1.0 %

IDA traded up $1.09 during trading on Monday, hitting $106.94. The company had a trading volume of 753,461 shares, compared to its average volume of 343,993. The company has a market capitalization of $5.69 billion, a PE ratio of 19.76, a PEG ratio of 3.47 and a beta of 0.60. The firm's 50-day moving average price is $102.92 and its 200 day moving average price is $98.37. IDACORP, Inc. has a one year low of $86.43 and a one year high of $109.47. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 0.87.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results 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). The business had revenue of $528.53 million during the quarter, compared to the consensus estimate of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.38%. During the same period last year, the business posted $2.07 EPS. As a group, equities analysts expect that IDACORP, Inc. will post 5.39 earnings per share for the current year.

IDACORP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.86 per share. This is a positive change from IDACORP's previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 annualized dividend and a dividend yield of 3.22%. IDACORP's payout ratio is 63.82%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IDA shares. Mizuho upgraded IDACORP from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $102.00 to $116.00 in a research report on Friday. Bank of America began coverage on shares of IDACORP in a report on Thursday, September 12th. They set a "neutral" rating and a $110.00 price objective for the company. Morgan Stanley increased their target price on shares of IDACORP from $102.00 to $108.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. StockNews.com raised shares of IDACORP from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company raised their price objective on IDACORP from $106.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $107.67.

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.