PNC Financial Services Group Inc. Sells 404 Shares of IDACORP, Inc. (NYSE:IDA)

PNC Financial Services Group Inc. trimmed its stake in IDACORP, Inc. (NYSE:IDA) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,614 shares of the energy company’s stock after selling 404 shares during the period. PNC Financial Services Group Inc.’s holdings in IDACORP were worth $945,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of IDA. Northwest Financial Advisors bought a new stake in IDACORP in the fourth quarter valued at $52,000. EverSource Wealth Advisors LLC grew its position in IDACORP by 19.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock valued at $68,000 after acquiring an additional 112 shares during the period. CWM LLC grew its position in IDACORP by 22.2% in the fourth quarter. CWM LLC now owns 992 shares of the energy company’s stock valued at $98,000 after acquiring an additional 180 shares during the period. Blue Trust Inc. grew its position in IDACORP by 13.5% in the fourth quarter. Blue Trust Inc. now owns 1,383 shares of the energy company’s stock valued at $129,000 after acquiring an additional 164 shares during the period. Finally, Quadrant Capital Group LLC grew its position in IDACORP by 12.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,529 shares of the energy company’s stock valued at $150,000 after acquiring an additional 164 shares during the period. 89.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com upgraded IDACORP to a “sell” rating in a research report on Friday, April 26th. Mizuho boosted their price objective on IDACORP from $88.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Morgan Stanley boosted their price objective on IDACORP from $96.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 28th. Finally, Wells Fargo & Company boosted their price objective on IDACORP from $94.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $97.40.

IDACORP Trading Up 1.1 %

Shares of IDA opened at $92.44 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.54 and a debt-to-equity ratio of 0.95. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $106.33. The firm has a market capitalization of $4.92 billion, a PE ratio of 18.56 and a beta of 0.57. The stock’s fifty day simple moving average is $94.40 and its 200-day simple moving average is $93.48.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.06). IDACORP had a net margin of 14.18% and a return on equity of 8.71%. The firm had revenue of $448.94 million for the quarter, compared to analyst estimates of $441.21 million. During the same period last year, the company earned $1.11 EPS. As a group, research analysts predict that IDACORP, Inc. will post 5.36 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Monday, May 6th were issued a $0.83 dividend. The ex-dividend date was Friday, May 3rd. This represents a $3.32 dividend on an annualized basis and a yield of 3.59%. IDACORP’s dividend payout ratio is presently 66.67%.

Insider Activity at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $95.09, for a total value of $142,635.00. Following the completion of the sale, the vice president now owns 1,650 shares in the company, valued at $156,898.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

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.