IDACORP, Inc. (NYSE:IDA) Stake Lessened by Park Avenue Securities LLC

Park Avenue Securities LLC decreased its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 22.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,504 shares of the energy company’s stock after selling 712 shares during the quarter. Park Avenue Securities LLC’s holdings in IDACORP were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of IDA. Pitcairn Co. increased its holdings in shares of IDACORP by 2.4% in the 1st quarter. Pitcairn Co. now owns 4,332 shares of the energy company’s stock valued at $402,000 after purchasing an additional 103 shares during the period. Raymond James Trust N.A. lifted its position in IDACORP by 1.7% in the 2nd quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock worth $597,000 after buying an additional 107 shares in the last quarter. Fortem Financial Group LLC boosted its stake in shares of IDACORP by 1.2% during the 2nd quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company’s stock valued at $866,000 after buying an additional 112 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of IDACORP by 18.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 816 shares of the energy company’s stock valued at $77,000 after acquiring an additional 126 shares in the last quarter. Finally, Rise Advisors LLC increased its stake in shares of IDACORP by 65.8% in the second quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock worth $34,000 after acquiring an additional 146 shares during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

IDACORP Stock Up 1.0 %

Shares of IDACORP stock opened at $101.09 on Monday. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $105.24. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 0.87. The stock has a 50 day moving average price of $102.32 and a two-hundred day moving average price of $97.09. The stock has a market capitalization of $5.38 billion, a P/E ratio of 20.30, a PEG ratio of 3.38 and a beta of 0.60.

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

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 5th were paid a $0.83 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.28%. IDACORP’s payout ratio is presently 66.67%.

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.