Trust Point Inc. Sells 3,264 Shares of IDACORP, Inc. (NYSE:IDA)

Trust Point Inc. reduced its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 33.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,628 shares of the energy company's stock after selling 3,264 shares during the quarter. Trust Point Inc.'s holdings in IDACORP were worth $770,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IDA. Opal Wealth Advisors LLC acquired a new position in IDACORP in the 1st quarter worth about $34,000. Proficio Capital Partners LLC bought a new position in shares of IDACORP during the 4th quarter worth approximately $45,000. Farther Finance Advisors LLC boosted its holdings in IDACORP by 879.1% in the first quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock worth $49,000 after acquiring an additional 378 shares in the last quarter. Versant Capital Management Inc increased 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 acquiring an additional 125 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in IDACORP by 1,333.3% in the 4th quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock valued at $56,000 after buying an additional 480 shares during the last quarter. 89.10% of the stock is owned by institutional investors.

IDACORP Price Performance

NYSE:IDA traded up $0.40 during midday trading on Tuesday, hitting $113.18. The company had a trading volume of 660,045 shares, compared to its average volume of 358,082. The company has a market capitalization of $6.11 billion, a PE ratio of 20.65, a P/E/G ratio of 2.32 and a beta of 0.58. 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 52-week low of $90.64 and a 52-week high of $120.84. The stock's fifty day moving average price is $116.12 and its 200-day moving average price is $113.65.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, beating 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 business had revenue of $432.46 million for the quarter, compared to analysts' expectations of $442.24 million. During the same period last year, the business earned $0.95 earnings per share. As a group, research analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 5th were issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Monday, May 5th. IDACORP's dividend payout ratio is presently 61.10%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IDA shares. Bank of America raised their target price on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. UBS Group dropped their target price on IDACORP from $121.00 to $120.00 and set a "neutral" rating on the stock in a research report on Monday, June 2nd. Morgan Stanley set a $128.00 price target on IDACORP and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Finally, Wall Street Zen cut IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, IDACORP currently has a consensus 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.