Principal Financial Group Inc. Sells 7,087 Shares of IDACORP, Inc. (NYSE:IDA)

Principal Financial Group Inc. trimmed its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 537,465 shares of the energy company's stock after selling 7,087 shares during the quarter. Principal Financial Group Inc. owned approximately 0.99% of IDACORP worth $62,464,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of IDACORP during the first quarter worth approximately $34,000. Farther Finance Advisors LLC lifted its position in shares of IDACORP by 879.1% during the first quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock worth $49,000 after purchasing an additional 378 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of IDACORP by 39.7% during the first quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock worth $51,000 after purchasing an additional 125 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of IDACORP by 1,333.3% during the fourth quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock worth $56,000 after purchasing an additional 480 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of IDACORP by 148.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 709 shares of the energy company's stock worth $77,000 after purchasing an additional 424 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Trading Up 0.3%

NYSE:IDA traded up $0.36 during trading hours on Monday, hitting $116.35. The stock had a trading volume of 31,051 shares, compared to its average volume of 407,920. IDACORP, Inc. has a one year low of $91.77 and a one year high of $120.84. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.44 and a current ratio of 1.81. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 2.46 and a beta of 0.56. The business's 50 day moving average is $115.36 and its 200-day moving average is $113.76.

IDACORP (NYSE:IDA - Get Free Report) last issued 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. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. The firm had revenue of $432.46 million during the quarter, compared to the consensus estimate of $442.24 million. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Sell-side analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 5th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Monday, May 5th. IDACORP's payout ratio is presently 61.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company upped 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. Wall Street Zen downgraded shares of IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Morgan Stanley set a $128.00 price target on shares of IDACORP and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. UBS Group dropped their price target on shares of IDACORP from $121.00 to $120.00 and set a "neutral" rating for the company in a research note on Monday, June 2nd. Finally, Guggenheim boosted their price target on shares of IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" 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.