SG Americas Securities LLC Has $3.14 Million Stock Position in IDACORP, Inc. (NYSE:IDA)

SG Americas Securities LLC cut its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 33.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,047 shares of the energy company's stock after selling 13,301 shares during the quarter. SG Americas Securities LLC owned 0.05% of IDACORP worth $3,143,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in IDACORP by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock valued at $660,786,000 after acquiring an additional 77,230 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of IDACORP by 43.3% during the fourth 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 period. T. Rowe Price Investment Management Inc. raised its holdings in shares of IDACORP by 9.6% during the fourth 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 period. Alliancebernstein L.P. raised its holdings in shares of IDACORP by 2.2% during the fourth 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 period. Finally, Reaves W H & Co. Inc. raised its holdings in shares of IDACORP by 75.4% during the fourth 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 period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Bank of America increased their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. 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. Wells Fargo & Company increased their target price 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. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Finally, UBS Group dropped their price objective on shares of IDACORP from $121.00 to $120.00 and set a "neutral" rating on the stock in a report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $122.86.

IDACORP Stock Performance

Shares of IDA stock traded up $0.40 during trading hours on Tuesday, reaching $113.18. The stock had a trading volume of 660,045 shares, compared to its average volume of 358,580. 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, Inc. has a twelve month low of $90.67 and a twelve month high of $120.84. The firm has a 50-day simple moving average of $116.08 and a 200-day simple moving average of $113.65. The firm has a market capitalization of $6.11 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 2.39 and a beta of 0.58.

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

IDACORP Announces Dividend

The firm 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 of this dividend was Monday, May 5th. This represents a $3.44 annualized dividend and a dividend yield of 3.04%. IDACORP's dividend payout ratio (DPR) is 61.10%.

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.