IDACORP, Inc. (NYSE:IDA) Stock Holdings Reduced by Bank of Montreal Can

Bank of Montreal Can cut its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 14.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,770 shares of the energy company's stock after selling 3,200 shares during the quarter. Bank of Montreal Can's holdings in IDACORP were worth $2,051,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diversified Trust Co purchased a new stake in IDACORP in the 4th quarter valued at approximately $704,000. Assenagon Asset Management S.A. purchased a new position in shares of IDACORP during the 4th quarter worth approximately $913,000. JPMorgan Chase & Co. raised its holdings in shares of IDACORP by 7.0% in the third quarter. JPMorgan Chase & Co. now owns 343,400 shares of the energy company's stock worth $35,401,000 after acquiring an additional 22,485 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in IDACORP in the 4th quarter valued at about $213,000. Finally, Van ECK Associates Corp raised its position in shares of IDACORP by 14.2% in the fourth quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company's stock valued at $1,809,000 after buying an additional 2,056 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Stock Performance

Shares of IDA traded up $1.70 during trading hours on Tuesday, reaching $117.98. 332,849 shares of the company's stock traded hands, compared to its average volume of 329,360. IDACORP, Inc. has a twelve month low of $90.64 and a twelve month high of $120.84. The business's fifty day simple moving average is $115.32 and its two-hundred day simple moving average is $111.97. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 2.32 and a beta of 0.56.

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

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Monday, May 5th. IDACORP's dividend payout ratio is presently 62.77%.

Analyst Ratings Changes

IDA has been the topic of several recent analyst reports. StockNews.com upgraded IDACORP from a "sell" rating to a "hold" rating in a research report on Tuesday. UBS Group lifted their target price on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Morgan Stanley raised their price target on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Guggenheim raised shares of IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Finally, Bank of America lifted their target price on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, IDACORP currently has an average rating of "Moderate Buy" and a consensus target price of $120.50.

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.