Squarepoint Ops LLC Lowers Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Squarepoint Ops LLC trimmed its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 23.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,523 shares of the energy company's stock after selling 24,101 shares during the quarter. Squarepoint Ops LLC owned 0.15% of IDACORP worth $8,690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position 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 last quarter. Reaves W H & Co. Inc. raised its holdings in shares of IDACORP by 75.4% in the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock valued at $109,103,000 after acquiring an additional 429,276 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of IDACORP in the fourth quarter valued at about $37,104,000. Ameriprise Financial Inc. raised its holdings in shares of IDACORP by 596.7% in the fourth quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company's stock valued at $41,451,000 after acquiring an additional 324,866 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of IDACORP by 9.6% in the fourth 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 acquiring an additional 166,864 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Guggenheim lifted their target price on IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen lowered IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. UBS Group boosted their price target on IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Bank of America boosted their price target on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Finally, Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $123.14.

IDACORP Price Performance

Shares of IDACORP stock traded up $1.08 during trading on Thursday, reaching $116.64. The company's stock had a trading volume of 117,494 shares, compared to its average volume of 348,202. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a 12-month low of $90.64 and a 12-month high of $120.84. The company has a market capitalization of $6.30 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The business has a 50 day moving average price of $115.95 and a 200-day moving average price of $113.92.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings results 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 return on equity of 9.23% and a net margin of 15.83%. The company had revenue of $432.46 million during the quarter, compared to analysts' expectations of $442.24 million. During the same period in the previous year, the firm posted $0.95 earnings per share. As a group, sell-side analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Monday, May 5th. IDACORP's dividend payout ratio is currently 61.10%.

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.