IDACORP, Inc. (NYSE:IDA) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lowered its stake in shares of IDACORP, Inc. (NYSE:IDA) by 24.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,157 shares of the energy company’s stock after selling 2,594 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in IDACORP were worth $841,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Trust Point Inc. increased its stake in shares of IDACORP by 1.4% during the third quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock worth $760,000 after purchasing an additional 101 shares in the last quarter. Pitcairn Co. increased its stake in shares of IDACORP by 2.4% during the first quarter. Pitcairn Co. now owns 4,332 shares of the energy company’s stock worth $402,000 after purchasing an additional 103 shares in the last quarter. Blue Trust Inc. increased its stake in shares of IDACORP by 7.5% during the third quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock worth $157,000 after purchasing an additional 106 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of IDACORP by 1.7% during the second quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock worth $597,000 after purchasing an additional 107 shares in the last quarter. Finally, Fortem Financial Group LLC increased its stake in shares of IDACORP by 1.2% during the second quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company’s stock worth $866,000 after purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

IDACORP stock opened at $103.65 on Monday. The firm has a 50 day simple moving average of $102.82 and a 200-day simple moving average of $97.91. IDACORP, Inc. has a 1-year low of $86.43 and a 1-year high of $105.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 3.49 and a beta of 0.60.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.34. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. The business had revenue of $451.04 million during the quarter, compared to analysts’ expectations of $420.56 million. During the same quarter in the prior year, the company posted $1.35 EPS. On average, analysts expect that IDACORP, Inc. will post 5.38 EPS for the current year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be issued a $0.86 dividend. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Tuesday, November 5th. IDACORP’s dividend payout ratio is currently 69.08%.

Analysts Set New Price Targets

A number of research firms have recently commented on IDA. Bank of America started coverage on shares of IDACORP in a research note on Thursday, September 12th. They set a “neutral” rating and a $110.00 target price for the company. Jefferies Financial Group started coverage on shares of IDACORP in a research note on Friday, September 20th. They set a “hold” rating and a $110.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley upped their price objective on shares of IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $104.83.

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.