River Road Asset Management LLC Sells 261,980 Shares of IDACORP, Inc. (NYSE:IDA)

River Road Asset Management LLC lowered its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 61.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,298 shares of the energy company's stock after selling 261,980 shares during the period. River Road Asset Management LLC owned approximately 0.31% of IDACORP worth $17,144,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its position in IDACORP by 13.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,210 shares of the energy company's stock worth $298,000 after purchasing an additional 390 shares during the period. BNP Paribas Financial Markets grew its position in IDACORP by 42.4% in the 1st quarter. BNP Paribas Financial Markets now owns 11,635 shares of the energy company's stock worth $1,081,000 after purchasing an additional 3,464 shares during the period. Janney Montgomery Scott LLC grew its position in IDACORP by 8.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,542 shares of the energy company's stock worth $1,629,000 after purchasing an additional 1,405 shares during the period. FORA Capital LLC grew its position in IDACORP by 74.3% in the 1st quarter. FORA Capital LLC now owns 11,476 shares of the energy company's stock worth $1,066,000 after purchasing an additional 4,893 shares during the period. Finally, Texas Permanent School Fund Corp grew its position in IDACORP by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 44,189 shares of the energy company's stock worth $4,105,000 after purchasing an additional 465 shares during the period. Institutional investors own 89.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on IDA shares. Wells Fargo & Company lifted their target price on shares of IDACORP from $106.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Jefferies Financial Group started coverage on shares of IDACORP in a research report on Friday, September 20th. They set a "hold" rating and a $110.00 price objective for the company. StockNews.com raised shares of IDACORP from a "sell" rating to a "hold" rating in a research report on Tuesday, October 29th. Morgan Stanley boosted their price objective on shares of IDACORP from $102.00 to $108.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th. Finally, Mizuho raised shares of IDACORP from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $102.00 to $116.00 in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, IDACORP currently has an average rating of "Hold" and a consensus price target of $108.83.

IDACORP Price Performance

Shares of IDA traded up $3.40 during trading hours on Tuesday, reaching $109.51. 676,264 shares of the stock traded hands, compared to its average volume of 345,545. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $109.53. The company's 50-day moving average price is $103.02 and its two-hundred day moving average price is $98.48. The company has a market cap of $5.83 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 3.58 and a beta of 0.60.

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 firm had revenue of $528.53 million for the quarter, compared to analysts' expectations of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same quarter last year, the firm posted $2.07 EPS. On average, analysts anticipate that IDACORP, Inc. will post 5.35 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 paid a $0.86 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $3.44 annualized dividend and a yield of 3.14%. This is a boost from IDACORP's previous quarterly dividend of $0.83. IDACORP's payout ratio is presently 61.60%.

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.