Pacer Advisors Inc. Cuts Position in IDACORP, Inc. (NYSE:IDA)

Pacer Advisors Inc. reduced its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 33.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,939 shares of the energy company's stock after selling 3,948 shares during the period. Pacer Advisors Inc.'s holdings in IDACORP were worth $868,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in IDACORP by 17.7% during the third quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company's stock valued at $246,367,000 after acquiring an additional 359,553 shares during the last quarter. State Street Corp increased its position in shares of IDACORP by 5.5% during the third quarter. State Street Corp now owns 1,656,697 shares of the energy company's stock worth $170,789,000 after purchasing an additional 86,642 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of IDACORP by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company's stock valued at $97,981,000 after purchasing an additional 36,063 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in IDACORP by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company's stock worth $71,368,000 after buying an additional 35,651 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in IDACORP during the 3rd quarter valued at about $3,228,000. Hedge funds and other institutional investors own 89.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IDA. Jefferies Financial Group lowered their price target on IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Bank of America upgraded shares of IDACORP from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. Wells Fargo & Company upped their price target on shares of IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. 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 report on Friday, November 1st. Finally, Guggenheim raised IDACORP from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $116.20.

IDACORP Stock Performance

Shares of NYSE:IDA traded down $0.53 during midday trading on Friday, reaching $110.71. The company's stock had a trading volume of 178,927 shares, compared to its average volume of 288,017. The firm has a market capitalization of $5.90 billion, a PE ratio of 20.54, a P/E/G ratio of 2.25 and a beta of 0.65. The stock has a fifty day moving average of $110.55 and a 200 day moving average of $107.03. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $120.42. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.11%. IDACORP's payout ratio is currently 63.82%.

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.