Nuveen Asset Management LLC Lowers Stock Position in IDACORP, Inc. (NYSE:IDA)

Nuveen Asset Management LLC trimmed its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,714 shares of the energy company's stock after selling 8,133 shares during the period. Nuveen Asset Management LLC owned about 0.32% of IDACORP worth $18,546,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of IDACORP during the fourth quarter worth $362,000. Graham Capital Management L.P. grew its position in shares of IDACORP by 1,070.8% in the 4th quarter. Graham Capital Management L.P. now owns 31,833 shares of the energy company's stock valued at $3,479,000 after acquiring an additional 29,114 shares during the period. Clark Capital Management Group Inc. bought a new position in shares of IDACORP in the 4th quarter valued at about $8,192,000. D. E. Shaw & Co. Inc. bought a new position in shares of IDACORP in the 4th quarter valued at about $213,000. Finally, Deutsche Bank AG boosted its holdings in shares of IDACORP by 0.7% during the 4th quarter. Deutsche Bank AG now owns 119,566 shares of the energy company's stock worth $13,066,000 after buying an additional 834 shares during the period. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Trading Up 0.7%

Shares of NYSE:IDA traded up $0.78 during trading on Thursday, reaching $116.34. The stock had a trading volume of 86,556 shares, compared to its average volume of 386,846. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 21.21, a P/E/G ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a 52 week low of $90.64 and a 52 week high of $120.84. The firm's fifty day moving average is $115.95 and its 200 day moving average is $113.92. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70.

IDACORP (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share (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 analyst estimates of $442.24 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. During the same period in the prior year, the firm earned $0.95 earnings per share. As a group, equities analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be issued a dividend of $0.86 per share. The ex-dividend date is Monday, May 5th. This represents a $3.44 annualized dividend and a yield of 2.96%. IDACORP's payout ratio is 61.10%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IDA. UBS Group lifted their target price on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Wells Fargo & Company boosted their target price 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. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. Bank of America upped their price objective on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Finally, Morgan Stanley set a $128.00 target price on shares of IDACORP and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $123.14.

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.