Raymond James & Associates Sells 22,531 Shares of IDACORP, Inc. (NYSE:IDA)

Raymond James & Associates cut its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 362,815 shares of the energy company's stock after selling 22,531 shares during the period. Raymond James & Associates owned 0.72% of IDACORP worth $35,672,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. LPL Financial LLC boosted its position in IDACORP by 0.6% during the second quarter. LPL Financial LLC now owns 15,675 shares of the energy company's stock valued at $1,660,000 after purchasing an additional 100 shares during the last quarter. Cohen & Steers Inc. boosted its position in IDACORP by 33.8% during the first quarter. Cohen & Steers Inc. now owns 400 shares of the energy company's stock valued at $46,000 after purchasing an additional 101 shares during the last quarter. State of Wyoming lifted its position in shares of IDACORP by 34.4% in the second quarter. State of Wyoming now owns 426 shares of the energy company's stock valued at $44,000 after buying an additional 109 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of IDACORP by 0.9% in the third quarter. Thrivent Financial for Lutherans now owns 13,381 shares of the energy company's stock valued at $1,325,000 after buying an additional 117 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in shares of IDACORP by 0.8% in the third quarter. Commonwealth Equity Services LLC now owns 15,335 shares of the energy company's stock valued at $1,436,000 after buying an additional 129 shares during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Price Performance

IDACORP stock traded up $0.45 during mid-day trading on Friday, reaching $92.89. 258,364 shares of the company were exchanged, compared to its average volume of 482,234. The company has a fifty day simple moving average of $90.30 and a 200-day simple moving average of $94.49. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $112.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.33. The firm has a market cap of $4.70 billion, a PE ratio of 18.07, a PEG ratio of 3.99 and a beta of 0.55.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The energy company reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. The firm had revenue of $411.95 million for the quarter, compared to analyst estimates of $429.84 million. During the same quarter last year, the company earned $0.83 EPS. As a group, equities research analysts expect that IDACORP, Inc. will post 5.32 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Monday, February 5th were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 3.57%. IDACORP's dividend payout ratio (DPR) is presently 64.59%.

Analyst Upgrades and Downgrades

IDA has been the subject of a number of recent analyst reports. Guggenheim cut IDACORP from a "buy" rating to a "neutral" rating and set a $93.00 price objective for the company. in a research report on Monday, January 22nd. Morgan Stanley raised their price objective on IDACORP from $92.00 to $95.00 and gave the company an "equal weight" rating in a research report on Thursday, March 21st. Mizuho dropped their price target on IDACORP from $99.00 to $88.00 and set a "neutral" rating for the company in a report on Tuesday, March 5th. Wells Fargo & Company dropped their price target on IDACORP from $100.00 to $94.00 and set an "equal weight" rating for the company in a report on Friday, February 16th. Finally, TheStreet cut IDACORP from a "b-" rating to a "c+" rating in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $93.80.

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.