Jump Financial LLC Reduces Stake in IDACORP, Inc. (NYSE:IDA)

Jump Financial LLC reduced its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 62.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,870 shares of the energy company's stock after selling 4,830 shares during the quarter. Jump Financial LLC's holdings in IDACORP were worth $314,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its holdings in IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of IDACORP by 2,150.0% during the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock valued at $34,000 after buying an additional 301 shares during the last quarter. Independence Bank of Kentucky increased its holdings in 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 buying an additional 225 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of IDACORP during the fourth quarter valued at approximately $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of IDACORP during the 3rd quarter valued at $53,000. Institutional investors own 89.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IDA. Bank of America lifted their price target on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. StockNews.com lowered IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday. Morgan Stanley raised their price objective on IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. UBS Group increased their target price on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, IDACORP has a consensus rating of "Hold" and a consensus target price of $120.50.

IDACORP Price Performance

Shares of NYSE:IDA traded up $1.12 during midday trading on Friday, reaching $117.42. 70,584 shares of the company were exchanged, compared to its average volume of 331,508. 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 stock has a market cap of $6.34 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56. The business's fifty day moving average is $116.06 and its two-hundred day moving average is $112.67. IDACORP, Inc. has a one year low of $90.64 and a one year high of $120.84.

IDACORP (NYSE:IDA - Get Free Report) last issued 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 during the quarter, compared to analyst estimates 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. As a group, analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 5th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Monday, May 5th. IDACORP's dividend payout ratio (DPR) is presently 62.77%.

IDACORP Company 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.