IDACORP, Inc. (NYSE:IDA) Stock Position Lessened by Moors & Cabot Inc.

Moors & Cabot Inc. lowered its position in shares of IDACORP, Inc. (NYSE:IDA – Get Rating) by 6.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,434 shares of the energy company’s stock after selling 175 shares during the quarter. Moors & Cabot Inc.’s holdings in IDACORP were worth $263,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Citizens Financial Group Inc RI boosted its stake in IDACORP by 12.3% during the fourth quarter. Citizens Financial Group Inc RI now owns 2,701 shares of the energy company’s stock valued at $291,000 after buying an additional 296 shares in the last quarter. Bank of Nova Scotia bought a new position in IDACORP during the fourth quarter valued at about $264,000. William Blair Investment Management LLC boosted its stake in IDACORP by 6.8% during the fourth quarter. William Blair Investment Management LLC now owns 312,697 shares of the energy company’s stock valued at $33,724,000 after buying an additional 19,840 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in IDACORP by 127.9% during the fourth quarter. Pinebridge Investments L.P. now owns 47,550 shares of the energy company’s stock valued at $5,128,000 after buying an additional 26,682 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in IDACORP by 12.4% during the fourth quarter. First Trust Advisors LP now owns 741,926 shares of the energy company’s stock valued at $80,018,000 after buying an additional 81,954 shares in the last quarter. Institutional investors own 79.38% of the company’s stock.

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IDACORP Stock Up 0.2 %

Shares of IDACORP stock opened at $106.16 on Monday. IDACORP, Inc. has a 1 year low of $93.53 and a 1 year high of $115.92. The stock has a 50-day moving average price of $108.89 and a 200 day moving average price of $106.69. The company has a current ratio of 1.86, a quick ratio of 1.63 and a debt-to-equity ratio of 0.88. The company has a market cap of $5.37 billion, a P/E ratio of 19.99, a P/E/G ratio of 5.66 and a beta of 0.62.

IDACORP (NYSE:IDA – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The energy company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. IDACORP had a return on equity of 9.65% and a net margin of 15.54%. The company had revenue of $429.66 million during the quarter, compared to the consensus estimate of $346.62 million. During the same period last year, the business earned $0.91 EPS. As a group, analysts expect that IDACORP, Inc. will post 5.1 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Wednesday, May 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Tuesday, May 2nd. IDACORP’s dividend payout ratio (DPR) is presently 59.51%.

Analysts Set New Price Targets

IDA has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on IDACORP in a research report on Thursday. They issued a “sell” rating for the company. 1-800-FLOWERS.COM reiterated a “maintains” rating on shares of IDACORP in a research report on Friday, May 5th. Wells Fargo & Company decreased their price target on IDACORP from $113.00 to $110.00 and set an “equal weight” rating for the company in a research report on Friday, February 17th. Finally, Mizuho downgraded IDACORP from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $117.00 to $107.00 in a research note on Tuesday, April 4th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $106.67.

IDACORP Profile

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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.

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