IDACORP, Inc. (NYSE:IDA) Stock Holdings Trimmed by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lessened its position in shares of IDACORP, Inc. (NYSE:IDA) by 16.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 212,768 shares of the energy company’s stock after selling 43,119 shares during the period. Royal London Asset Management Ltd. owned about 0.40% of IDACORP worth $19,819,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Nuance Investments LLC acquired a new stake in shares of IDACORP during the first quarter worth $86,962,000. Wellington Management Group LLP raised its stake in IDACORP by 50.3% during the fourth quarter. Wellington Management Group LLP now owns 1,634,463 shares of the energy company’s stock worth $160,700,000 after acquiring an additional 546,818 shares during the period. Balyasny Asset Management L.P. lifted its holdings in IDACORP by 128.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 394,857 shares of the energy company’s stock worth $38,822,000 after acquiring an additional 221,777 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in IDACORP by 59.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 391,388 shares of the energy company’s stock valued at $36,356,000 after acquiring an additional 145,316 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of IDACORP during the second quarter valued at approximately $8,032,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company raised their price target on IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Morgan Stanley boosted their price target on shares of IDACORP from $94.00 to $102.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Finally, Mizuho increased their price objective on shares of IDACORP from $88.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $99.80.

IDACORP Stock Down 0.8 %

Shares of IDACORP stock opened at $103.26 on Thursday. IDACORP, Inc. has a 1-year low of $86.43 and a 1-year high of $105.24. The company has a market capitalization of $5.50 billion, a P/E ratio of 20.73 and a beta of 0.60. The business’s fifty day moving average price is $99.39 and its two-hundred day moving average price is $95.08. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share 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 quarter in the prior year, the company posted $1.35 earnings per share. As a group, research analysts forecast that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 5th were paid a dividend of $0.83 per share. 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 3.22%. IDACORP’s dividend payout ratio is presently 66.67%.

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.