IDACORP, Inc. (NYSE:IDA) Shares Sold by Man Group plc

Man Group plc lessened its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 44.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,052 shares of the energy company's stock after selling 16,562 shares during the quarter. Man Group plc's holdings in IDACORP were worth $2,301,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in IDACORP by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock worth $660,786,000 after buying an additional 77,230 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of IDACORP by 43.3% during the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock worth $374,279,000 after acquiring an additional 1,035,133 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of IDACORP by 9.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company's stock worth $208,692,000 after acquiring an additional 166,864 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of IDACORP by 2.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,379,408 shares of the energy company's stock valued at $150,742,000 after purchasing an additional 29,094 shares during the period. Finally, Reaves W H & Co. Inc. raised its holdings in IDACORP by 75.4% in 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 in the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Stock Down 1.6%

NYSE:IDA traded down $1.88 during trading hours on Wednesday, reaching $115.69. The company's stock had a trading volume of 360,614 shares, compared to its average volume of 347,520. The company has a market capitalization of $6.25 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. 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, Inc. has a 12 month low of $90.64 and a 12 month high of $120.84. The stock has a 50 day moving average price of $115.93 and a two-hundred day moving average price of $113.91.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The firm had revenue of $432.46 million for the quarter, compared to analyst estimates of $442.24 million. During the same quarter in the prior year, the business earned $0.95 earnings per share. Equities analysts predict 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 issued a $0.86 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.44 annualized dividend and a yield of 2.97%. IDACORP's payout ratio is 61.10%.

Analysts Set New Price Targets

IDA has been the topic of several analyst reports. Wall Street Zen downgraded shares of IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Guggenheim boosted 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 increased their target price on IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Bank of America lifted their target price on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Finally, UBS Group upped their price target on IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a report on Friday, March 21st. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $123.14.

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.