Vanguard Group Inc. Sells 34,377 Shares of IDACORP, Inc. (NYSE:IDA)

Vanguard Group Inc. lessened its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 0.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 6,012,346 shares of the energy company's stock after selling 34,377 shares during the period. Vanguard Group Inc. owned 11.13% of IDACORP worth $698,755,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the stock. Principal Securities Inc. lifted its holdings in IDACORP by 2.1% in the first quarter. Principal Securities Inc. now owns 4,410 shares of the energy company's stock valued at $482,000 after buying an additional 92 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in IDACORP by 4.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,487 shares of the energy company's stock worth $289,000 after purchasing an additional 100 shares in the last quarter. State of Michigan Retirement System boosted its stake in IDACORP by 0.8% in the first quarter. State of Michigan Retirement System now owns 12,720 shares of the energy company's stock valued at $1,478,000 after acquiring an additional 100 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of IDACORP by 0.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the energy company's stock valued at $1,732,000 after buying an additional 100 shares in the last quarter. Finally, Wood Tarver Financial Group LLC lifted its stake in shares of IDACORP by 3.2% during the 1st quarter. Wood Tarver Financial Group LLC now owns 3,814 shares of the energy company's stock valued at $443,000 after buying an additional 117 shares in the last quarter. 89.10% of the stock is owned by institutional investors.

IDACORP Stock Performance

IDACORP stock traded down $0.45 during trading hours on Friday, hitting $125.28. The stock had a trading volume of 304,500 shares, compared to its average volume of 450,557. IDACORP, Inc. has a fifty-two week low of $99.81 and a fifty-two week high of $127.09. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average of $119.12 and a two-hundred day moving average of $116.43. The company has a market cap of $6.77 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 2.65 and a beta of 0.56.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share for the quarter, hitting the consensus estimate of $1.76. The firm had revenue of $531.10 million for the quarter, compared to analyst estimates of $478.14 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%. During the same period in the previous year, the company posted $1.71 earnings per share. On average, equities research analysts anticipate 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 Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th will be given a $0.86 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.7%. IDACORP's dividend payout ratio (DPR) is 60.56%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IDA shares. 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 raised their price target on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Guggenheim lifted 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. Finally, UBS Group restated a "neutral" rating and issued a $120.00 price objective (up from $118.00) on shares of IDACORP in a report on Friday, July 11th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" 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.