BNP Paribas Financial Markets Cuts Position in IDACORP, Inc. (NYSE:IDA)

BNP Paribas Financial Markets trimmed its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 49.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,501 shares of the energy company's stock after selling 7,473 shares during the period. BNP Paribas Financial Markets' holdings in IDACORP were worth $820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AMG National Trust Bank lifted its holdings in shares of IDACORP by 0.6% in the fourth quarter. AMG National Trust Bank now owns 15,248 shares of the energy company's stock valued at $1,670,000 after purchasing an additional 98 shares in the last quarter. CENTRAL TRUST Co raised its position in shares of IDACORP by 13.7% during the 4th quarter. CENTRAL TRUST Co now owns 832 shares of the energy company's stock worth $91,000 after purchasing an additional 100 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in IDACORP by 4.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company's stock valued at $311,000 after buying an additional 112 shares in the last quarter. HighPoint Advisor Group LLC lifted its stake in IDACORP by 4.4% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,720 shares of the energy company's stock valued at $303,000 after buying an additional 115 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in IDACORP by 98.4% during 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 last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

Analyst Ratings Changes

IDA has been the subject of a number of analyst reports. Morgan Stanley set a $128.00 price target on IDACORP and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. UBS Group raised their price target on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Wells Fargo & Company lifted their price target on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, Guggenheim boosted their price objective on shares of IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued 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 price target of $123.14.

IDACORP Trading Up 1.7%

Shares of IDA stock traded up $1.99 during trading hours on Tuesday, hitting $117.56. 694,193 shares of the company were exchanged, compared to its average volume of 347,391. The firm has a fifty day moving average of $115.93 and a 200 day moving average of $113.91. 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, Inc. has a 1 year low of $90.64 and a 1 year high of $120.84. The firm has a market cap of $6.35 billion, a PE ratio of 21.45, a PEG ratio of 2.32 and a beta of 0.59.

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

IDACORP Dividend Announcement

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 issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Monday, May 5th. IDACORP's payout ratio is currently 61.10%.

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.