GW&K Investment Management LLC Sells 10,971 Shares of IDACORP, Inc. (NYSE:IDA)

GW&K Investment Management LLC lowered its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 710,868 shares of the energy company's stock after selling 10,971 shares during the quarter. IDACORP comprises approximately 0.8% of GW&K Investment Management LLC's investment portfolio, making the stock its 21st biggest holding. GW&K Investment Management LLC owned 1.32% of IDACORP worth $82,617,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new position in shares of IDACORP in the fourth quarter valued at approximately $45,000. HighTower Advisors LLC boosted its holdings in shares of IDACORP by 28.5% in the fourth quarter. HighTower Advisors LLC now owns 5,372 shares of the energy company's stock valued at $587,000 after acquiring an additional 1,192 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of IDACORP by 2.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,641 shares of the energy company's stock valued at $616,000 after acquiring an additional 132 shares in the last quarter. Signaturefd LLC boosted its holdings in IDACORP by 31.8% during the fourth quarter. Signaturefd LLC now owns 1,531 shares of the energy company's stock worth $167,000 after buying an additional 369 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in IDACORP by 7.0% during the fourth quarter. Xponance Inc. now owns 6,061 shares of the energy company's stock worth $662,000 after buying an additional 399 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

IDACORP Stock Performance

NYSE IDA traded down $0.09 on Thursday, hitting $122.63. 197,047 shares of the stock were exchanged, compared to its average volume of 418,502. The company has a market capitalization of $6.62 billion, a PE ratio of 21.74, a P/E/G ratio of 2.61 and a beta of 0.56. The business's fifty day moving average is $116.07 and its 200 day moving average is $114.49. IDACORP, Inc. has a 52 week low of $96.87 and a 52 week high of $125.42. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.81 and a quick ratio of 1.44.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.03 by $0.07. The business had revenue of $432.46 million for the quarter, compared to the consensus estimate of $442.24 million. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. During the same period last year, the company earned $0.95 EPS. Research analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, August 5th. IDACORP's dividend payout ratio (DPR) is presently 61.10%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IDA shares. Guggenheim raised their target price on shares of IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. 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. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Finally, UBS Group reiterated a "neutral" rating and issued a $120.00 target price (up previously from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.