IDACORP, Inc. (NYSE:IDA) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 3.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 173,290 shares of the energy company's stock after selling 6,910 shares during the quarter. Bank of America Corp DE owned about 0.33% of IDACORP worth $18,937,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its position in shares of 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 purchasing an additional 120 shares during the last quarter. 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 worth $44,000 after buying an additional 225 shares during the period. Jones Financial Companies Lllp increased its holdings in IDACORP by 1,333.3% in the 4th quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock worth $56,000 after buying an additional 480 shares during the period. Asset Planning Inc acquired a new position in IDACORP in the 4th quarter worth approximately $58,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in IDACORP by 148.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 709 shares of the energy company's stock worth $77,000 after buying an additional 424 shares during the period. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Trading Up 0.4%

Shares of IDA stock traded up $0.43 on Friday, hitting $115.56. 432,599 shares of the stock traded hands, compared to its average volume of 345,998. The firm's 50-day moving average price is $115.93 and its two-hundred day moving average price is $113.87. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The stock has a market capitalization of $6.24 billion, a PE ratio of 21.09, a PEG ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a twelve month low of $90.64 and a twelve month high of $120.84.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.07. The firm had revenue of $432.46 million for the quarter, compared to analysts' expectations of $442.24 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. During the same quarter in the previous year, the company posted $0.95 EPS. As a group, analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 5th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.98%. IDACORP's payout ratio is 61.10%.

Analyst Ratings Changes

Several equities analysts recently weighed in on IDA shares. UBS Group increased their price target on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Morgan Stanley set a $128.00 price objective on shares of IDACORP and gave the stock an "equal weight" rating in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Finally, Wall Street Zen cut shares of IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $123.14.

About IDACORP

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.