Comerica Bank Has $2.31 Million Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Comerica Bank lowered its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 20.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,130 shares of the energy company's stock after selling 5,364 shares during the quarter. Comerica Bank's holdings in IDACORP were worth $2,309,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted 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 purchasing an additional 77,230 shares in the last quarter. Wellington Management Group LLP raised 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 valued at $374,279,000 after buying an additional 1,035,133 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in IDACORP by 9.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company's stock worth $208,692,000 after acquiring an additional 166,864 shares in the last quarter. Alliancebernstein L.P. boosted its position in IDACORP by 2.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,379,408 shares of the energy company's stock worth $150,742,000 after acquiring an additional 29,094 shares during the period. Finally, Reaves W H & Co. Inc. grew its stake 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 valued at $109,103,000 after acquiring an additional 429,276 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

Wall Street Analysts Forecast Growth

IDA has been the subject of several research reports. Wells Fargo & Company raised their price target on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Morgan Stanley lifted their price objective on IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. UBS Group upped their target price on IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, Guggenheim boosted their price target on IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $123.57.

IDACORP Stock Performance

IDACORP stock traded up $1.24 during trading hours on Friday, reaching $114.92. 2,427,541 shares of the company were exchanged, compared to its average volume of 337,631. The stock has a 50-day moving average of $115.99 and a 200 day moving average of $113.28. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a 12 month low of $90.64 and a 12 month high of $120.84. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.03 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The firm had revenue of $432.46 million for the quarter, compared to the consensus estimate of $442.24 million. During the same quarter last year, the firm posted $0.95 EPS. As a group, research analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors 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 yield of 2.99%. The ex-dividend date is Monday, May 5th. IDACORP's payout ratio is currently 61.10%.

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.