River Road Asset Management LLC Sells 23,051 Shares of IDACORP, Inc. (NYSE:IDA)

River Road Asset Management LLC reduced its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 13.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,247 shares of the energy company's stock after selling 23,051 shares during the quarter. River Road Asset Management LLC owned about 0.27% of IDACORP worth $15,654,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in IDACORP in the 3rd quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB increased its holdings in IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock valued at $26,000 after buying an additional 120 shares during the period. Versant Capital Management Inc increased its holdings in IDACORP by 2,150.0% in the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock valued at $34,000 after buying an additional 301 shares during the period. Independence Bank of Kentucky increased its holdings in IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock valued at $44,000 after buying an additional 225 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in IDACORP in the 4th quarter valued at about $45,000. 89.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IDA shares. Guggenheim raised shares of IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Jefferies Financial Group decreased their price target on shares of IDACORP from $129.00 to $118.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. Bank of America lifted their price target on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Finally, Morgan Stanley lifted their price target on shares of IDACORP from $110.00 to $121.00 and gave the company an "equal weight" rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, IDACORP presently has a consensus rating of "Hold" and a consensus price target of $118.20.

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IDACORP Trading Up 0.7 %

IDA traded up $0.84 during trading on Tuesday, reaching $115.81. 479,328 shares of the company's stock were exchanged, compared to its average volume of 314,940. IDACORP, Inc. has a one year low of $88.70 and a one year high of $120.42. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $6.25 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The firm has a fifty day moving average price of $111.14 and a two-hundred day moving average price of $109.12.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. The business had revenue of $398.13 million during the quarter, compared to analysts' expectations of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. As a group, equities research analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Wednesday, February 5th. IDACORP's dividend payout ratio is currently 62.77%.

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.