River Road Asset Management LLC Sells 30,977 Shares of IDACORP, Inc. (NYSE:IDA)

River Road Asset Management LLC decreased its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 601,480 shares of the energy company's stock after selling 30,977 shares during the period. River Road Asset Management LLC owned about 1.19% of IDACORP worth $59,138,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Chilton Capital Management LLC bought a new position in IDACORP in the 1st quarter valued at approximately $25,000. Cohen & Steers Inc. raised its stake in shares of 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 acquiring an additional 101 shares during the last quarter. State of Wyoming raised its stake in shares of IDACORP by 34.4% during the second quarter. State of Wyoming now owns 426 shares of the energy company's stock valued at $44,000 after acquiring an additional 109 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of IDACORP during the third quarter valued at $40,000. Finally, Lazard Asset Management LLC bought a new position in shares of IDACORP during the fourth quarter valued at $50,000. Institutional investors own 89.10% of the company's stock.

IDACORP Stock Up 1.4 %

Shares of IDACORP stock traded up $1.22 during trading hours on Wednesday, reaching $90.37. The company's stock had a trading volume of 240,600 shares, compared to its average volume of 387,314. IDACORP, Inc. has a one year low of $86.43 and a one year high of $112.96. The company has a market capitalization of $4.58 billion, a P/E ratio of 17.58 and a beta of 0.56. The stock's fifty day simple moving average is $90.08 and its two-hundred day simple moving average is $94.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.33 and a current ratio of 1.58.

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

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Monday, February 5th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Friday, February 2nd. IDACORP's payout ratio is currently 64.59%.

Analyst Upgrades and Downgrades

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