Cresset Asset Management LLC Decreases Holdings in IDACORP, Inc. (NYSE:IDA)

Cresset Asset Management LLC trimmed its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 62.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,699 shares of the energy company's stock after selling 6,086 shares during the quarter. Cresset Asset Management LLC's holdings in IDACORP were worth $404,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of IDACORP by 98.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock valued at $26,000 after buying an additional 120 shares during the period. Independence Bank of Kentucky lifted its position 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 worth $44,000 after purchasing an additional 225 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of IDACORP in the 4th quarter worth approximately $45,000. Jones Financial Companies Lllp boosted its stake 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 purchasing an additional 480 shares during the last quarter. Finally, Asset Planning Inc acquired a new stake in shares of IDACORP during the fourth quarter worth $58,000. Institutional investors and hedge funds own 89.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IDA. UBS Group upped their price target on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Guggenheim upped their target price on IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. StockNews.com downgraded IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Bank of America boosted their price target on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Finally, Wells Fargo & Company raised their price objective on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, IDACORP presently has an average rating of "Hold" and an average target price of $123.57.

IDACORP Stock Down 0.8%

Shares of IDA traded down $0.94 during trading hours on Wednesday, reaching $116.35. The stock had a trading volume of 53,465 shares, compared to its average volume of 377,204. The firm has a 50-day simple moving average of $115.95 and a 200 day simple moving average of $113.73. IDACORP, Inc. has a 12 month low of $90.64 and a 12 month high of $120.84. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 earnings per share 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 analyst estimates of $442.24 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. During the same period last year, the firm earned $0.95 earnings per share. Equities research analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders 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 2.96%. The ex-dividend date of this dividend is Monday, May 5th. IDACORP's dividend payout ratio (DPR) is presently 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.