Bank of New York Mellon Corp Sells 5,047 Shares of IDACORP, Inc. (NYSE:IDA)

Bank of New York Mellon Corp lessened its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 516,142 shares of the energy company's stock after selling 5,047 shares during the quarter. Bank of New York Mellon Corp owned 0.96% of IDACORP worth $59,986,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Elite Financial Inc. bought a new stake in shares of IDACORP in the first quarter worth $29,000. OneDigital Investment Advisors LLC lifted its position in shares of IDACORP by 6.9% in the first quarter. OneDigital Investment Advisors LLC now owns 2,823 shares of the energy company's stock worth $328,000 after purchasing an additional 181 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of IDACORP by 3.7% in the first quarter. D.A. Davidson & CO. now owns 5,027 shares of the energy company's stock worth $584,000 after purchasing an additional 178 shares in the last quarter. Buffington Mohr McNeal raised its stake in shares of IDACORP by 344.4% during the 1st quarter. Buffington Mohr McNeal now owns 21,871 shares of the energy company's stock worth $2,542,000 after purchasing an additional 16,950 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of IDACORP by 103.0% during the 1st quarter. Teacher Retirement System of Texas now owns 8,484 shares of the energy company's stock worth $986,000 after purchasing an additional 4,305 shares in the last quarter. Institutional investors own 89.10% of the company's stock.

IDACORP Trading Down 0.3%

IDA stock traded down $0.36 on Friday, reaching $117.54. The company's stock had a trading volume of 284,561 shares, compared to its average volume of 368,950. The business has a fifty day simple moving average of $115.32 and a two-hundred day simple moving average of $114.00. IDACORP, Inc. has a 12-month low of $93.16 and a 12-month high of $120.84. The firm has a market cap of $6.35 billion, a PE ratio of 20.88, a PEG ratio of 2.49 and a beta of 0.56. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.44 and a current ratio of 1.81.

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

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 5th were given a dividend of $0.86 per share. The ex-dividend date was Monday, May 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.93%. IDACORP's payout ratio is currently 61.10%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Guggenheim increased their target price on IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. Wells Fargo & Company raised their price target on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Morgan Stanley set a $128.00 price objective on shares of IDACORP and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Finally, UBS Group boosted their price target on shares of IDACORP from $118.00 to $120.00 and gave the company a "neutral" rating in a research note on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $122.86.

IDACORP Company 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.