Hennion & Walsh Asset Management Inc. Has $345,000 Stake in IDACORP, Inc. (NYSE:IDA)

Hennion & Walsh Asset Management Inc. lowered its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 52.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its position in IDACORP by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock valued at $660,786,000 after buying an additional 77,230 shares during the last quarter. Wellington Management Group LLP lifted its holdings in IDACORP by 43.3% during the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock worth $374,279,000 after purchasing an additional 1,035,133 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in IDACORP by 9.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company's stock worth $208,692,000 after purchasing an additional 166,864 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in IDACORP by 2.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,379,408 shares of the energy company's stock worth $150,742,000 after purchasing an additional 29,094 shares during the last quarter. Finally, Reaves W H & Co. Inc. lifted its holdings in IDACORP by 75.4% during the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock worth $109,103,000 after purchasing an additional 429,276 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

IDACORP Stock Up 0.1%

IDA stock opened at $115.02 on Monday. The stock's 50 day simple moving average is $116.22 and its 200 day simple moving average is $113.82. IDACORP, Inc. has a fifty-two week low of $90.64 and a fifty-two week high of $120.84. 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 market cap of $6.21 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 2.32 and a beta of 0.58.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $432.46 million during the quarter, compared to the consensus estimate of $442.24 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. During the same period in the prior year, the business posted $0.95 earnings per share. On average, research analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 5th were paid a $0.86 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $3.44 annualized dividend and a yield of 2.99%. IDACORP's dividend payout ratio is currently 61.10%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IDA. Morgan Stanley set a $128.00 price objective on IDACORP and gave the company an "equal weight" rating in a report on Thursday, May 22nd. Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Guggenheim boosted their price target on IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wall Street Zen lowered IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company boosted their price objective on IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. One equities research 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. Based on data from MarketBeat, IDACORP presently has a consensus rating of "Hold" and a consensus target price 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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