IDACORP, Inc. (NYSE:IDA) Position Trimmed by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lessened its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 5.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,946 shares of the energy company’s stock after selling 167 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in IDACORP were worth $274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of IDA. Pitcairn Co. grew its stake 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 buying an additional 103 shares in the last quarter. Raymond James Trust N.A. grew its stake in shares of IDACORP by 1.7% in the 2nd quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock valued at $597,000 after buying an additional 107 shares in the last quarter. Fortem Financial Group LLC grew its stake in shares of IDACORP by 1.2% in 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 in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of IDACORP by 18.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 816 shares of the energy company’s stock valued at $77,000 after buying an additional 126 shares in the last quarter. Finally, Rise Advisors LLC grew its stake in shares of IDACORP by 65.8% in the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock valued at $34,000 after buying an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IDA. Morgan Stanley boosted their price target on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company boosted their target price on IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Jefferies Financial Group started coverage on IDACORP in a report on Friday, September 20th. They issued a “hold” rating and a $110.00 target price for the company. Finally, Bank of America started coverage on IDACORP in a report on Thursday, September 12th. They issued a “neutral” rating and a $110.00 target price for the company. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $103.57.

IDACORP Stock Down 0.2 %

Shares of IDA stock opened at $103.03 on Tuesday. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $105.24. The firm has a market cap of $5.49 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 3.46 and a beta of 0.60. The stock has a 50 day moving average of $101.79 and a 200-day 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 issued its earnings results on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.34. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. The business had revenue of $451.04 million during the quarter, compared to analyst estimates of $420.56 million. During the same period in the prior year, the company posted $1.35 earnings per share. On average, equities analysts predict that IDACORP, Inc. will post 5.39 EPS for the current year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors 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 yield of 3.22%. IDACORP’s payout ratio is currently 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.