7,739 IDACORP, Inc. $IDA Shares Sold by Alps Advisors Inc.

Key Points

• Alps Advisors cut its IDACORP stake by 23.8% in the third quarter, selling 7,739 shares and retaining 24,716 shares valued at about $3.23 million. Institutional investors collectively own 89.1% of the stock.
• IDACORP reported quarterly EPS of $2.73, beating the $2.51 consensus, while revenue of $608.04 million also topped estimates. It raised its quarterly dividend to $0.90 per share from $0.88.
• Analyst sentiment was generally positive: six analysts rated the stock a Buy and two a Hold, for a consensus “Moderate Buy” rating and average price target of $152.29.

Alps Advisors Inc. trimmed its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 23.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,716 shares of the energy company's stock after selling 7,739 shares during the quarter. Alps Advisors Inc.'s holdings in IDACORP were worth $3,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of IDA. Robertson Stephens Wealth Management LLC increased its position in IDACORP by 3.9% during the third quarter. Robertson Stephens Wealth Management LLC now owns 1,988 shares of the energy company's stock valued at $260,000 after acquiring an additional 75 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of IDACORP by 1.4% in the 3rd quarter. Quadrant Capital Group LLC now owns 5,921 shares of the energy company's stock worth $811,000 after purchasing an additional 82 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of IDACORP by 1.6% in the 1st quarter. Sanctuary Advisors LLC now owns 6,482 shares of the energy company's stock worth $927,000 after purchasing an additional 103 shares during the period. North Dakota State Investment Board boosted its holdings in shares of IDACORP by 7.3% in the third quarter. North Dakota State Investment Board now owns 1,720 shares of the energy company's stock worth $225,000 after buying an additional 117 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of IDACORP by 8.4% in the second quarter. QRG Capital Management Inc. now owns 1,632 shares of the energy company's stock worth $247,000 after buying an additional 126 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Stock Up 0.3%

NYSE IDA opened at $147.03 on Tuesday. The stock's 50-day moving average price is $136.57 and its 200-day moving average price is $141.11. The company has a quick ratio of 0.94, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. IDACORP, Inc. has a 52 week low of $124.12 and a 52 week high of $154.91. The company has a market capitalization of $8.66 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 2.54 and a beta of 0.47.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The energy company reported $2.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.51 by $0.22. The company had revenue of $608.04 million during the quarter, compared to the consensus estimate of $603.00 million. IDACORP had a return on equity of 9.92% and a net margin of 19.84%. During the same period in the previous year, the company posted $2.26 EPS. On average, equities research analysts predict that IDACORP, Inc. will post 6.41 earnings per share for the current year.

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 5th will be given a $0.90 dividend. This is an increase from IDACORP's previous quarterly dividend of $0.88. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, November 5th. IDACORP's dividend payout ratio (DPR) is presently 54.07%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Weiss Ratings restated a "buy (b)" rating on shares of IDACORP in a research report on Friday, October 30th. Wall Street Zen downgraded shares of IDACORP from a "hold" rating to a "sell" rating in a research report on Saturday, October 31st. BTIG Research reiterated a "buy" rating and issued a $155.00 price target on shares of IDACORP in a research report on Monday, November 2nd. Barclays lifted their price target on shares of IDACORP from $149.00 to $163.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of IDACORP from $154.00 to $155.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $152.29.

IDACORP Profile

IDACORP, Inc is an energy holding company whose principal subsidiary, Idaho Power Company, provides regulated electric service. Idaho Power generates, transmits and distributes electricity to homes, businesses and other customers.

Idaho Power serves a territory spanning southern Idaho and parts of eastern Oregon. Its electricity comes from a mix of generating resources, including hydroelectric facilities, thermal plants and renewable energy sources.

Idaho Power traces its roots to 1916, while IDACORP became the utility's publicly traded parent company in 1998.

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