D.A. Davidson & CO. Has $530,000 Holdings in IDACORP, Inc. (NYSE:IDA)

D.A. Davidson & CO. lowered its position in shares of IDACORP, Inc. (NYSE:IDA) by 4.4% during the fourth quarter, Holdings Channel reports. The fund owned 4,849 shares of the energy company’s stock after selling 223 shares during the quarter. D.A. Davidson & CO.’s holdings in IDACORP were worth $530,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in IDA. Creative Planning increased its stake in IDACORP by 9.3% in the 3rd quarter. Creative Planning now owns 17,104 shares of the energy company’s stock valued at $1,763,000 after buying an additional 1,449 shares during the period. Allworth Financial LP increased its stake in IDACORP by 33.7% in the 3rd quarter. Allworth Financial LP now owns 2,847 shares of the energy company’s stock valued at $293,000 after buying an additional 717 shares during the period. Louisiana State Employees Retirement System increased its stake in IDACORP by 3.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the energy company’s stock valued at $1,526,000 after buying an additional 500 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in IDACORP by 7.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the energy company’s stock valued at $532,000 after buying an additional 372 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in IDACORP by 2.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 36,001 shares of the energy company’s stock valued at $3,711,000 after buying an additional 710 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Performance

IDA stock opened at $115.81 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 21.13, a P/E/G ratio of 2.32 and a beta of 0.65. IDACORP, Inc. has a 12 month low of $86.47 and a 12 month high of $120.42. The firm has a 50 day moving average of $109.99 and a two-hundred day moving average of $108.19.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. The business had revenue of $398.13 million during the quarter, compared to the consensus estimate of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. As a group, equities analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP’s dividend payout ratio is currently 62.77%.

Analyst Upgrades and Downgrades

IDA has been the topic of several research reports. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and upped their price objective for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. Jefferies Financial Group dropped their price objective on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Mizuho raised shares of IDACORP from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. Finally, Morgan Stanley boosted their target price on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $116.20.

About IDACORP

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.