GW&K Investment Management LLC Decreases Stock Position in IDACORP, Inc. (NYSE:IDA)

GW&K Investment Management LLC cut its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 710,868 shares of the energy company's stock after selling 10,971 shares during the period. IDACORP comprises 0.8% of GW&K Investment Management LLC's holdings, making the stock its 21st largest holding. GW&K Investment Management LLC owned approximately 1.32% of IDACORP worth $82,617,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Elite Financial Inc. bought a new position in IDACORP in the 1st quarter worth about $29,000. Opal Wealth Advisors LLC purchased a new stake in IDACORP during the first quarter valued at approximately $34,000. Proficio Capital Partners LLC purchased a new position in shares of IDACORP in the fourth quarter worth $45,000. Farther Finance Advisors LLC raised its holdings in shares of IDACORP by 879.1% in the first quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock worth $49,000 after buying an additional 378 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of IDACORP by 39.7% in the first quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock worth $51,000 after acquiring an additional 125 shares during the period. 89.10% of the stock is currently owned by institutional investors.

IDACORP Trading Up 1.1%

NYSE IDA opened at $120.18 on Monday. IDACORP, Inc. has a one year low of $94.36 and a one year high of $120.84. The company's 50 day moving average price is $115.64 and its 200 day moving average price is $114.34. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.44 and a current ratio of 1.81. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 2.54 and a beta of 0.56.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.03 by $0.07. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. The firm had revenue of $432.46 million for the quarter, compared to analyst estimates of $442.24 million. During the same quarter last year, the firm posted $0.95 earnings per share. On average, sell-side analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Tuesday, August 5th. IDACORP's payout ratio is currently 61.10%.

Wall Street Analysts Forecast Growth

IDA has been the topic of several research analyst reports. Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a research report on Friday. UBS Group reiterated a "neutral" rating and issued a $120.00 price target (up previously from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Wells Fargo & Company upped their price target on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Morgan Stanley set a $128.00 price objective on shares of IDACORP and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Finally, Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Four investment 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 a consensus rating of "Moderate Buy" and an average price target of $122.86.

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.

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