Xponance Inc. Sells 597 Shares of IDACORP, Inc. (NYSE:IDA)

Xponance Inc. trimmed its position in IDACORP, Inc. (NYSE:IDA) by 9.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,444 shares of the energy company’s stock after selling 597 shares during the quarter. Xponance Inc.’s holdings in IDACORP were worth $507,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC increased its stake in shares of IDACORP by 18.4% in the first quarter. First Eagle Investment Management LLC now owns 129,880 shares of the energy company’s stock worth $12,065,000 after purchasing an additional 20,184 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in IDACORP by 6.5% in the 4th quarter. Westwood Holdings Group Inc. now owns 204,925 shares of the energy company’s stock worth $20,148,000 after buying an additional 12,432 shares during the period. Buckley Wealth Management LLC raised its holdings in IDACORP by 273.1% during the first quarter. Buckley Wealth Management LLC now owns 38,425 shares of the energy company’s stock valued at $3,569,000 after acquiring an additional 28,125 shares during the period. Sei Investments Co. lifted its position in shares of IDACORP by 90.0% in the first quarter. Sei Investments Co. now owns 74,368 shares of the energy company’s stock valued at $6,908,000 after acquiring an additional 35,217 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of IDACORP by 99.7% in the fourth quarter. Allianz Asset Management GmbH now owns 19,842 shares of the energy company’s stock valued at $1,951,000 after acquiring an additional 9,904 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

IDA has been the subject of several research analyst reports. Morgan Stanley increased their target price on IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group initiated coverage on shares of IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 price objective on the stock. Bank of America assumed coverage on shares of IDACORP in a research report on Thursday, September 12th. They set a “neutral” rating and a $110.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on shares of IDACORP from $98.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, IDACORP currently has an average rating of “Hold” and an average target price of $103.57.

IDACORP Price Performance

IDA stock opened at $103.03 on Tuesday. IDACORP, Inc. has a 52 week low of $86.43 and a 52 week high of $105.24. The firm has a market capitalization of $5.49 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 3.46 and a beta of 0.60. The company has a fifty day simple moving average of $101.79 and a two-hundred day simple moving average of $96.40. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 0.87.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.37 by $0.34. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. The company had revenue of $451.04 million during the quarter, compared to analyst estimates of $420.56 million. During the same quarter last year, the business posted $1.35 earnings per share. Analysts anticipate that IDACORP, Inc. will post 5.39 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 5th were given a $0.83 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.32 dividend on an annualized basis and a yield of 3.22%. IDACORP’s dividend payout ratio is presently 66.67%.

IDACORP 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.