IDACORP, Inc. (NYSE:IDA) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA cut its holdings in IDACORP, Inc. (NYSE:IDA) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,478 shares of the energy company’s stock after selling 462 shares during the quarter. Leeward Investments LLC MA owned approximately 0.26% of IDACORP worth $14,070,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Radnor Capital Management LLC acquired a new stake in IDACORP during the 3rd quarter valued at $232,000. Van ECK Associates Corp boosted its stake in shares of IDACORP by 7.0% during the third quarter. Van ECK Associates Corp now owns 14,494 shares of the energy company’s stock valued at $1,522,000 after acquiring an additional 954 shares during the last quarter. Janney Montgomery Scott LLC increased its position in IDACORP by 1.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 18,587 shares of the energy company’s stock worth $1,916,000 after purchasing an additional 332 shares in the last quarter. F M Investments LLC raised its stake in IDACORP by 39.1% in the 3rd quarter. F M Investments LLC now owns 78,192 shares of the energy company’s stock valued at $8,061,000 after purchasing an additional 21,980 shares during the last quarter. Finally, James Investment Research Inc. lifted its holdings in IDACORP by 11.4% in the 3rd quarter. James Investment Research Inc. now owns 4,208 shares of the energy company’s stock valued at $434,000 after purchasing an additional 430 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Price Performance

Shares of IDACORP stock opened at $111.44 on Thursday. The business’s fifty day moving average price is $103.40 and its 200 day moving average price is $98.68. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $112.03. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $5.94 billion, a P/E ratio of 20.68, a PEG ratio of 3.59 and a beta of 0.60.

IDACORP (NYSE:IDA) last released its quarterly earnings data 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 firm had revenue of $528.53 million during 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 period in the prior year, the firm earned $2.07 earnings per share. As a group, research analysts anticipate that IDACORP, Inc. will post 5.38 earnings per share for the current year.

IDACORP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be given a $0.86 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 annualized dividend and a dividend yield of 3.09%. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s dividend payout ratio is presently 61.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday. Jefferies Financial Group started coverage on IDACORP in a report on Friday, September 20th. They issued a “hold” rating and a $110.00 price target for the company. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $102.00 to $116.00 in a research note on Friday, November 1st. Morgan Stanley lifted their price objective on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Bank of America upgraded 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $108.83.

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.