Hennion & Walsh Asset Management Inc. Sells 3,325 Shares of IDACORP, Inc. (NYSE:IDA)

Hennion & Walsh Asset Management Inc. cut its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 52.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,972 shares of the energy company's stock after selling 3,325 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in IDACORP were worth $345,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in IDACORP during the fourth quarter valued at $45,000. Versant Capital Management Inc raised its position in shares of IDACORP by 39.7% during the 1st quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock valued at $51,000 after buying an additional 125 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of IDACORP by 1,333.3% in the 4th quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock valued at $56,000 after acquiring an additional 480 shares during the last quarter. Asset Planning Inc bought a new position in shares of IDACORP in the 4th quarter valued at about $58,000. Finally, Steward Partners Investment Advisory LLC grew its position in IDACORP by 148.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 709 shares of the energy company's stock worth $77,000 after acquiring an additional 424 shares in the last quarter. Institutional investors own 89.10% of the company's stock.

IDACORP Trading Up 0.4%

IDACORP stock traded up $0.50 during mid-day trading on Thursday, hitting $115.68. The company's stock had a trading volume of 338,100 shares, compared to its average volume of 356,146. 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 company has a 50 day moving average of $116.06 and a 200-day moving average of $113.81. IDACORP, Inc. has a one year low of $90.64 and a one year high of $120.84. The stock has a market cap of $6.25 billion, a PE ratio of 21.11, a P/E/G ratio of 2.32 and a beta of 0.58.

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, topping analysts' consensus estimates of $1.03 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The firm had revenue of $432.46 million for the quarter, compared to analysts' expectations of $442.24 million. During the same period in the prior year, the business posted $0.95 earnings per share. On average, research analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 5th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Monday, May 5th. IDACORP's dividend payout ratio (DPR) is presently 61.10%.

Analysts Set New Price Targets

A number of brokerages have issued reports on IDA. Wall Street Zen downgraded IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a report 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, May 22nd. Wells Fargo & Company boosted their price objective 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. Finally, UBS Group lowered their target price on shares of IDACORP from $121.00 to $120.00 and set a "neutral" rating for the company in a report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" 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.