Two Sigma Advisers LP Sells 16,400 Shares of IDACORP, Inc. (NYSE:IDA)

Two Sigma Advisers LP lowered its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 22.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,300 shares of the energy company's stock after selling 16,400 shares during the period. Two Sigma Advisers LP owned about 0.11% of IDACORP worth $6,371,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of IDACORP by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock valued at $660,786,000 after acquiring an additional 77,230 shares in the last quarter. Wellington Management Group LLP lifted its position in 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 buying an additional 1,035,133 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in IDACORP by 9.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company's stock worth $208,692,000 after purchasing an additional 166,864 shares during the period. Alliancebernstein L.P. grew its position in IDACORP by 2.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,379,408 shares of the energy company's stock valued at $150,742,000 after acquiring an additional 29,094 shares during the period. Finally, Reaves W H & Co. Inc. increased its position in IDACORP by 75.4% during the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock worth $109,103,000 after purchasing an additional 429,276 shares in the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Price Performance

IDA traded down $0.09 during midday trading on Friday, hitting $118.09. The company had a trading volume of 129,760 shares, compared to its average volume of 349,649. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The firm's 50-day simple moving average is $116.03 and its 200-day simple moving average is $113.93. IDACORP, Inc. has a twelve month low of $90.64 and a twelve month high of $120.84. The company has a market capitalization of $6.38 billion, a PE ratio of 21.56, a P/E/G ratio of 2.32 and a beta of 0.59.

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

IDACORP Announces Dividend

The business also recently declared 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 yield of 2.91%. IDACORP's payout ratio is currently 61.10%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IDA shares. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company increased their target price on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Guggenheim upped their price target on IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Wall Street Zen lowered shares of IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Finally, Bank of America increased their price target on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $123.14.

IDACORP 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.