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

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

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in shares of IDACORP by 43.3% in the fourth 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 during the period. Reaves W H & Co. Inc. increased its stake in IDACORP by 75.4% in 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 buying an additional 429,276 shares during the period. Raymond James Financial Inc. purchased a new position in IDACORP during the 4th quarter worth $37,104,000. Ameriprise Financial Inc. lifted its stake in shares of IDACORP by 596.7% in the 4th quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company's stock worth $41,451,000 after acquiring an additional 324,866 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its stake 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 during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Price Performance

IDACORP stock traded down $2.01 during trading hours on Wednesday, hitting $115.55. The stock had a trading volume of 903,125 shares, compared to its average volume of 349,605. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.32 and a beta of 0.59. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP, Inc. has a 1-year low of $90.64 and a 1-year high of $120.84. The stock's fifty day moving average is $115.93 and its two-hundred day moving average is $113.91.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $442.24 million. During the same period last year, the firm posted $0.95 EPS. As a group, analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

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

Analyst Ratings Changes

IDA has been the subject of several analyst reports. Wall Street Zen cut shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Bank of America increased their target price on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Morgan Stanley set a $128.00 price objective on IDACORP and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Finally, Guggenheim increased their price objective on IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, IDACORP currently has an average rating of "Hold" and an average 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.