IDACORP, Inc. (NYSE:IDA) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. reduced its position in IDACORP, Inc. (NYSE:IDA) by 6.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,201 shares of the energy company’s stock after selling 150 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in IDACORP were worth $227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Trust Point Inc. lifted its holdings in shares of IDACORP by 1.4% in the 3rd quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock valued at $760,000 after purchasing an additional 101 shares during the last quarter. Pitcairn Co. grew its holdings in IDACORP by 2.4% during the 1st quarter. Pitcairn Co. now owns 4,332 shares of the energy company’s stock valued at $402,000 after buying an additional 103 shares during the last quarter. Blue Trust Inc. grew its holdings in IDACORP by 7.5% during the 3rd quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock valued at $157,000 after buying an additional 106 shares during the last quarter. Raymond James Trust N.A. grew its holdings in IDACORP by 1.7% during the 2nd quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock valued at $597,000 after buying an additional 107 shares during the last quarter. Finally, Fortem Financial Group LLC grew its holdings in IDACORP by 1.2% during the 2nd quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company’s stock valued at $866,000 after buying an additional 112 shares during the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on IDA shares. Wells Fargo & Company increased their price target on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and increased their target price for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. Jefferies Financial Group assumed coverage on IDACORP in a research report on Friday, September 20th. They issued a “hold” rating and a $110.00 target price on the stock. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. Finally, Morgan Stanley increased their target price on IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $108.83.

IDACORP Trading Down 0.5 %

NYSE:IDA opened at $116.74 on Friday. The business’s 50-day moving average is $104.94 and its two-hundred day moving average is $99.54. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $119.65. The firm has a market capitalization of $6.22 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 2.61 and a beta of 0.60.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.05). The business had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same quarter in the prior year, the business earned $2.07 earnings per share. Research analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.86 per share. The ex-dividend date is Tuesday, November 5th. This is an increase from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 annualized dividend and a dividend yield of 2.95%. IDACORP’s dividend payout ratio (DPR) is currently 63.82%.

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.