Russell Investments Group Ltd. Sells 72,225 Shares of IDACORP, Inc. (NYSE:IDA)

Russell Investments Group Ltd. decreased its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 42.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 98,260 shares of the energy company's stock after selling 72,225 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.18% of IDACORP worth $10,738,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in IDA. MassMutual Private Wealth & Trust FSB raised its position in IDACORP by 98.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock worth $26,000 after buying an additional 120 shares during the last quarter. Versant Capital Management Inc lifted its stake in IDACORP by 2,150.0% in the 4th 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 in the last quarter. Independence Bank of Kentucky lifted its position in shares of IDACORP by 123.6% in the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock valued at $44,000 after acquiring an additional 225 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of IDACORP during the 3rd quarter worth about $53,000. Finally, Jones Financial Companies Lllp boosted its position in IDACORP by 1,333.3% during the fourth quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock worth $56,000 after acquiring an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Stock Performance

Shares of NYSE IDA traded up $2.09 during trading hours on Thursday, reaching $120.07. The stock had a trading volume of 63,456 shares, compared to its average volume of 327,286. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The business's fifty day moving average is $114.76 and its two-hundred day moving average is $111.47. IDACORP, Inc. has a twelve month low of $89.61 and a twelve month high of $120.84. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 2.32 and a beta of 0.56.

IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The company had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. As a group, research analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on IDA shares. Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. UBS Group lifted their price target on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. Bank of America upped their target price on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Finally, Morgan Stanley boosted their price target on IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $120.50.

About IDACORP

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.