Millennium Management LLC Sells 47,175 Shares of IDACORP, Inc. (NYSE:IDA)

Millennium Management LLC cut its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 425,354 shares of the energy company's stock after selling 47,175 shares during the period. Millennium Management LLC owned approximately 0.80% of IDACORP worth $46,483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake 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 worth $374,279,000 after acquiring an additional 1,035,133 shares in the last quarter. Reaves W H & Co. Inc. raised its holdings in shares of IDACORP by 75.4% during the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock valued at $109,103,000 after purchasing an additional 429,276 shares during the period. Raymond James Financial Inc. bought a new position in shares of IDACORP during the 4th quarter worth about $37,104,000. Ameriprise Financial Inc. grew its stake in shares of IDACORP by 596.7% in the 4th quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company's stock valued at $41,451,000 after buying an additional 324,866 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position 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 valued at $208,692,000 after buying an additional 166,864 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IDA has been the topic of several recent research reports. Morgan Stanley cut their price target on IDACORP from $129.00 to $128.00 and set an "equal weight" rating on the stock in a report on Thursday. Guggenheim upped their target price on IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Bank of America lifted their price target on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company upped their price objective 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, IDACORP presently has a consensus rating of "Hold" and an average target price of $123.14.

IDACORP Stock Performance

Shares of IDA stock traded down $0.56 on Thursday, hitting $115.47. 66,175 shares of the stock were exchanged, compared to its average volume of 344,053. The firm's 50 day moving average is $115.95 and its two-hundred day moving average is $113.74. IDACORP, Inc. has a one year low of $90.64 and a one year high of $120.84. The firm has a market capitalization of $6.24 billion, a PE ratio of 21.04, a P/E/G ratio of 2.32 and a beta of 0.59. 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 (NYSE:IDA - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.03 by $0.07. The business had revenue of $432.46 million for the quarter, compared to the consensus estimate of $442.24 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. During the same period in the prior year, the firm earned $0.95 earnings per share. Sell-side analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be issued a dividend of $0.86 per share. The ex-dividend date is Monday, May 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.98%. IDACORP's payout ratio is 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.