Victory Capital Management Inc. Trims Stake in IDACORP, Inc. (NYSE:IDA)

Victory Capital Management Inc. cut its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 22.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,101,671 shares of the energy company's stock after selling 325,934 shares during the quarter. Victory Capital Management Inc. owned approximately 2.04% of IDACORP worth $128,036,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of IDA. 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 worth $374,279,000 after purchasing an additional 1,035,133 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of IDACORP in the fourth quarter worth about $37,104,000. Ameriprise Financial Inc. increased 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 worth $41,451,000 after purchasing an additional 324,866 shares during the last quarter. T. Rowe Price Investment Management Inc. increased 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 worth $208,692,000 after purchasing an additional 166,864 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of IDACORP by 13,941.6% in the first quarter. GAMMA Investing LLC now owns 85,654 shares of the energy company's stock worth $99,550,000 after purchasing an additional 85,044 shares during the last quarter. 89.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IDA shares. UBS Group reissued a "neutral" rating and set a $120.00 price objective (up from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Guggenheim boosted their price objective on IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Morgan Stanley set a $128.00 price objective on IDACORP and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company boosted their price objective on IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $122.86.

IDACORP Trading Up 1.1%

Shares of IDA traded up $1.25 during mid-day trading on Friday, reaching $120.18. 465,282 shares of the company's stock traded hands, compared to its average volume of 415,736. The stock has a market cap of $6.49 billion, a P/E ratio of 21.35, a P/E/G ratio of 2.51 and a beta of 0.56. The stock's 50-day moving average is $115.54 and its two-hundred day moving average is $114.19. IDACORP, Inc. has a 12 month low of $93.57 and a 12 month high of $120.84. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.81 and a quick ratio of 1.44.

IDACORP (NYSE:IDA - Get Free Report) last released its 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. The firm had revenue of $432.46 million for the quarter, compared to analysts' expectations of $442.24 million. IDACORP had a return on equity of 9.13% and a net margin of 16.61%. During the same quarter in the prior year, the firm posted $0.95 earnings per share. Research analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th will be paid a $0.86 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $3.44 annualized dividend and a yield of 2.86%. IDACORP's dividend payout ratio (DPR) 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.