Victory Capital Management Inc. decreased its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 22.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,101,671 shares of the energy company's stock after selling 325,934 shares during the quarter. Victory Capital Management Inc. owned about 2.04% of IDACORP worth $128,036,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Elite Financial Inc. acquired a new position in IDACORP in the 1st quarter valued at $29,000. Opal Wealth Advisors LLC acquired a new position in shares of IDACORP during the 1st quarter worth $34,000. Proficio Capital Partners LLC acquired a new position in shares of IDACORP during the 4th quarter worth $45,000. Farther Finance Advisors LLC grew its stake in shares of IDACORP by 879.1% during the 1st quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock worth $49,000 after purchasing an additional 378 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of IDACORP by 39.7% during the 1st quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock worth $51,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on IDA shares. Guggenheim boosted their price objective on shares of IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. UBS Group restated a "neutral" rating and issued a $120.00 target price (up from $118.00) on shares of IDACORP in a report on Friday, July 11th. Wells Fargo & Company upped their target price on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Morgan Stanley set a $128.00 target price on shares of IDACORP and gave the company an "equal weight" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $122.86.
Read Our Latest Analysis on IDACORP
IDACORP Stock Up 1.1%
NYSE:IDA traded up $1.25 during trading hours on Friday, hitting $120.18. The stock had a trading volume of 465,282 shares, 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. IDACORP, Inc. has a 1-year low of $94.36 and a 1-year high of $120.84. The business has a 50 day simple moving average of $115.64 and a two-hundred day simple moving average of $114.34. The company has a market cap of $6.49 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56.
IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.07. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. The business had revenue of $432.46 million during the quarter, compared to the consensus estimate of $442.24 million. During the same quarter last year, the company earned $0.95 earnings per share. Analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.
IDACORP Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Tuesday, August 5th. IDACORP's payout ratio is 61.10%.
About IDACORP
(
Free Report)
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.
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