IDACORP, Inc. (NYSE:IDA) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC reduced its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 52.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,764 shares of the energy company's stock after selling 48,922 shares during the quarter. Voloridge Investment Management LLC owned about 0.08% of IDACORP worth $4,783,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Independence Bank of Kentucky lifted its holdings in shares of IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock valued at $44,000 after buying an additional 225 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of 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 period. Asset Planning Inc acquired a new stake in shares of IDACORP in the 4th quarter valued at approximately $58,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of IDACORP by 148.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 709 shares of the energy company's stock valued at $77,000 after buying an additional 424 shares during the period. Finally, CENTRAL TRUST Co increased its stake in IDACORP by 13.7% in the 4th quarter. CENTRAL TRUST Co now owns 832 shares of the energy company's stock valued at $91,000 after purchasing an additional 100 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Price Performance

IDACORP stock traded up $0.78 during mid-day trading on Friday, hitting $118.96. 679,420 shares of the company were exchanged, compared to its average volume of 352,046. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The business's 50 day simple moving average is $116.16 and its two-hundred day simple moving average is $113.91. The company has a market capitalization of $6.43 billion, a P/E ratio of 21.71, a PEG ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a 12-month low of $90.64 and a 12-month high of $120.84.

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 the consensus estimate of $1.03 by $0.07. The company had revenue of $432.46 million during the quarter, compared to the consensus estimate of $442.24 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. During the same quarter last year, the business posted $0.95 earnings per share. Analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 5th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Monday, May 5th. IDACORP's payout ratio is 61.10%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IDA shares. Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Morgan Stanley set a $128.00 price objective on IDACORP and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Wells Fargo & Company raised their price objective on IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Wall Street Zen downgraded IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Finally, Guggenheim raised their price objective on IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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.