Ensign Peak Advisors Inc Lowers Stake in IDACORP, Inc. (NYSE:IDA)

Posted by on Mar 10th, 2023

Ensign Peak Advisors Inc lowered its stake in shares of IDACORP, Inc. (NYSE:IDA – Get Rating) by 15.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 23,293 shares of the energy company’s stock after selling 4,395 shares during the period. Ensign Peak Advisors Inc’s holdings in IDACORP were worth $2,306,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in IDA. Chilton Capital Management LLC acquired a new stake in IDACORP during the 2nd quarter worth approximately $25,000. Wipfli Financial Advisors LLC acquired a new stake in IDACORP during the 3rd quarter worth approximately $43,000. Cohen & Steers Inc. lifted its holdings in IDACORP by 33.8% during the 1st quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock worth $46,000 after buying an additional 101 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in IDACORP during the 2nd quarter worth approximately $53,000. Finally, Quadrant Capital Group LLC lifted its holdings in IDACORP by 97.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 610 shares of the energy company’s stock worth $60,000 after buying an additional 301 shares in the last quarter. Hedge funds and other institutional investors own 79.38% of the company’s stock.

IDACORP Trading Down 0.3 %

NYSE IDA opened at $101.88 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.26 and a quick ratio of 1.07. The firm’s fifty day moving average price is $104.99 and its 200 day moving average price is $105.23. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 6.72 and a beta of 0.59. IDACORP, Inc. has a 12 month low of $93.53 and a 12 month high of $118.92.

IDACORP (NYSE:IDA – Get Rating) last posted its earnings results on Thursday, February 16th. The energy company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The firm had revenue of $422.96 million for the quarter, compared to the consensus estimate of $360.62 million. IDACORP had a net margin of 15.75% and a return on equity of 9.42%. During the same period last year, the firm posted $0.65 EPS. On average, sell-side analysts expect that IDACORP, Inc. will post 5.01 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Monday, February 6th were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, February 3rd. IDACORP’s dividend payout ratio (DPR) is 61.84%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a report on Monday, February 20th. Mizuho reduced their price objective on shares of IDACORP from $119.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, December 9th. Finally, Wells Fargo & Company reduced their price objective on shares of IDACORP from $113.00 to $110.00 and set an “equal weight” rating on the stock in a report on Friday, February 17th.

About IDACORP

(Get Rating)

IDACORP, Inc is a holding company, which engages in the generation, transmission, distribution, sale, and purchase of electric energy. It operates through the Utilities Operations and All Other segments. The Utilities Operations segment focuses on the production of electricity. The All Others segment consists of IFS’s investments in affordable housing developments and historic rehabilitation projects and Ida-West’s joint venture investments in small hydropower generation projects.

Featured Stories

Want to see what other hedge funds are holding IDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDACORP, Inc. (NYSE:IDA – Get Rating).

Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

Receive News & Ratings for IDACORP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDACORP and related companies with MarketBeat.com's FREE daily email newsletter.