IDACORP, Inc. (NYSE:IDA) Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 561,073 shares of the energy company's stock after selling 57,086 shares during the period. First Trust Advisors LP owned 1.05% of IDACORP worth $61,314,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IDA. Wellington Management Group LLP increased its stake in IDACORP by 43.3% in the fourth quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock valued at $374,279,000 after purchasing an additional 1,035,133 shares during the period. Reaves W H & Co. Inc. increased its position in IDACORP by 75.4% in the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock valued at $109,103,000 after acquiring an additional 429,276 shares during the period. Raymond James Financial Inc. purchased a new stake in IDACORP during the 4th quarter valued at approximately $37,104,000. Vanguard Group Inc. raised its stake in IDACORP by 1.3% during the 4th 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 during the last quarter. Finally, Bridgewater Associates LP acquired a new stake in IDACORP during the 4th quarter worth approximately $7,547,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Bank of America upped their price objective 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. Morgan Stanley lifted their target price on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. StockNews.com raised shares of IDACORP from a "sell" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, UBS Group lifted their price objective on IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $120.50.

IDACORP Price Performance

IDA stock traded up $0.61 during trading on Monday, reaching $117.07. 42,296 shares of the company were exchanged, compared to its average volume of 328,072. IDACORP, Inc. has a 52-week low of $90.64 and a 52-week high of $120.84. 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 company has a market cap of $6.32 billion, a P/E ratio of 21.38, a PEG ratio of 2.32 and a beta of 0.56. The stock's 50 day moving average price is $115.73 and its 200 day moving average price is $112.39.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The business had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. As a group, analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Monday, May 5th. IDACORP's dividend payout ratio (DPR) is presently 62.77%.

About IDACORP

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.