IDACORP, Inc. (NYSE:IDA) Shares Sold by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC lessened its stake in IDACORP, Inc. (NYSE:IDA) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 177,582 shares of the energy company’s stock after selling 6,279 shares during the period. Anchor Capital Advisors LLC’s holdings in IDACORP were worth $19,406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new position in IDACORP during the third quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of 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 purchasing an additional 120 shares during the period. Versant Capital Management Inc increased its holdings in shares of IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after purchasing an additional 301 shares in the last quarter. Independence Bank of Kentucky increased its holdings in shares of IDACORP by 123.6% during the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock valued at $44,000 after purchasing an additional 225 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of IDACORP in the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Trading Down 0.1 %

IDA stock opened at $115.26 on Friday. IDACORP, Inc. has a 12-month low of $86.47 and a 12-month high of $120.42. The business’s 50-day moving average is $110.25 and its 200 day moving average is $108.29. 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 cap of $6.22 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.32 and a beta of 0.65.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. On average, sell-side analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Wednesday, February 5th. IDACORP’s payout ratio is 62.77%.

Analyst Upgrades and Downgrades

Several research firms recently commented on IDA. Jefferies Financial Group dropped their price target on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and raised their target price for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley boosted their price objective on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, IDACORP currently has a consensus rating of “Hold” and an average price target of $116.20.

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.