IDACORP, Inc. (NYSE:IDA) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. lessened its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 326,988 shares of the energy company's stock after selling 38,503 shares during the period. Westwood Holdings Group Inc. owned about 0.61% of IDACORP worth $35,733,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Wellington Management Group LLP grew 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 valued at $374,279,000 after purchasing an additional 1,035,133 shares in the last quarter. Reaves W H & Co. Inc. grew 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 valued at $109,103,000 after purchasing an additional 429,276 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in IDACORP during the 4th quarter valued at $37,104,000. Ameriprise Financial Inc. grew its holdings in IDACORP by 596.7% during the 4th quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company's stock valued at $41,451,000 after purchasing an additional 324,866 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew 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 valued at $208,692,000 after purchasing an additional 166,864 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Stock Performance

Shares of NYSE IDA traded up $0.43 during midday trading on Friday, hitting $115.56. The company's stock had a trading volume of 432,599 shares, compared to its average volume of 345,998. IDACORP, Inc. has a 1-year low of $90.64 and a 1-year high of $120.84. The firm's fifty day moving average price is $115.93 and its 200-day moving average price is $113.86. 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 firm has a market cap of $6.24 billion, a P/E ratio of 21.09, a P/E/G ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.07. The firm had revenue of $432.46 million during 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 previous year, the business posted $0.95 EPS. On average, sell-side analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Monday, May 5th. IDACORP's payout ratio is 61.10%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Guggenheim raised their price objective on shares of IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wells Fargo & Company boosted their target price 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. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. UBS Group boosted their target price on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, Wall Street Zen lowered shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $123.14.

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.