Charles Schwab Investment Management Inc. Has $80 Million Stock Position in IDACORP, Inc. $IDA

Charles Schwab Investment Management Inc. lessened its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 688,387 shares of the energy company's stock after selling 11,192 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.27% of IDACORP worth $80,004,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Securities Inc. increased its holdings in IDACORP by 2.1% in the 1st quarter. Principal Securities Inc. now owns 4,410 shares of the energy company's stock valued at $482,000 after buying an additional 92 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in IDACORP by 4.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,487 shares of the energy company's stock valued at $289,000 after buying an additional 100 shares during the period. State of Michigan Retirement System increased its holdings in IDACORP by 0.8% in the 1st quarter. State of Michigan Retirement System now owns 12,720 shares of the energy company's stock valued at $1,478,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System raised its stake in IDACORP by 0.7% during the first quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the energy company's stock worth $1,732,000 after acquiring an additional 100 shares in the last quarter. Finally, Wood Tarver Financial Group LLC raised its stake in IDACORP by 3.2% during the first quarter. Wood Tarver Financial Group LLC now owns 3,814 shares of the energy company's stock worth $443,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 89.10% of the company's stock.

IDACORP Price Performance

NYSE:IDA traded down $0.62 during mid-day trading on Monday, reaching $124.80. 48,998 shares of the company were exchanged, compared to its average volume of 416,786. IDACORP, Inc. has a 12 month low of $99.81 and a 12 month high of $127.09. The company has a fifty day moving average of $119.12 and a 200 day moving average of $116.48. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. The stock has a market cap of $6.74 billion, a PE ratio of 21.95, a PEG ratio of 2.65 and a beta of 0.56.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The energy company reported $1.76 EPS for the quarter, hitting analysts' consensus estimates of $1.76. The firm had revenue of $531.10 million for the quarter, compared to analyst estimates of $478.14 million. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. During the same quarter in the prior year, the firm earned $1.71 EPS. On average, research analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, August 5th. IDACORP's dividend payout ratio (DPR) is presently 60.56%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on IDA shares. Guggenheim increased their price objective on IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Wells Fargo & Company increased their price objective on IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. UBS Group reiterated a "neutral" rating and set a $120.00 price objective (up from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Morgan Stanley set a $128.00 price objective on IDACORP and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $122.86.

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.