Tributary Capital Management LLC Cuts Stake in IDACORP, Inc. (NYSE:IDA)

Tributary Capital Management LLC decreased its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,700 shares of the energy company's stock after selling 6,095 shares during the period. IDACORP accounts for 2.0% of Tributary Capital Management LLC's investment portfolio, making the stock its 11th biggest holding. Tributary Capital Management LLC owned approximately 0.36% of IDACORP worth $22,744,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Elite Financial Inc. acquired a new position in shares of IDACORP during the first quarter valued at about $29,000. Opal Wealth Advisors LLC acquired a new position in shares of IDACORP during the first quarter valued at about $34,000. Proficio Capital Partners LLC acquired a new position in shares of IDACORP during the fourth quarter valued at about $45,000. Farther Finance Advisors LLC increased its stake in IDACORP by 879.1% in the first quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock valued at $49,000 after acquiring an additional 378 shares during the period. Finally, Versant Capital Management Inc increased its stake in IDACORP by 39.7% in the first quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock valued at $51,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 89.10% of the company's stock.

IDACORP Stock Up 1.1%

Shares of NYSE IDA traded up $1.25 during mid-day trading on Friday, reaching $120.18. 465,282 shares of the company's stock were exchanged, compared to its average volume of 373,484. The company has a current ratio of 1.81, a quick ratio of 1.44 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 2.54 and a beta of 0.56. The business has a fifty day simple moving average of $115.64 and a 200 day simple moving average of $114.34. IDACORP, Inc. has a twelve month low of $94.36 and a twelve month high of $120.84.

IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.03 by $0.07. The business had revenue of $432.46 million during the quarter, compared to analysts' expectations of $442.24 million. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. During the same quarter in the prior year, the company posted $0.95 earnings per share. As a group, equities analysts expect that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.86%. IDACORP's payout ratio is 61.10%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IDA. Morgan Stanley set a $128.00 target price on shares of IDACORP and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. UBS Group reissued a "neutral" rating and issued a $120.00 target price (up previously from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company upped their price objective on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Finally, Guggenheim upped their price objective 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. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.