IDACORP, Inc. (NYSE:IDA) Stock Position Lessened by Raymond James & Associates

Raymond James & Associates decreased its holdings in IDACORP, Inc. (NYSE:IDA) by 20.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 344,257 shares of the energy company’s stock after selling 85,947 shares during the quarter. Raymond James & Associates’ holdings in IDACORP were worth $35,489,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of IDACORP in the third quarter valued at $26,000. Rise Advisors LLC lifted its holdings in shares of IDACORP by 65.8% in the second quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock valued at $34,000 after buying an additional 146 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of IDACORP in the second quarter valued at $35,000. 1620 Investment Advisors Inc. acquired a new stake in shares of IDACORP in the second quarter valued at $71,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of IDACORP by 18.3% in the first 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 during the period. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Up 1.1 %

Shares of IDACORP stock opened at $104.94 on Thursday. The stock has a 50-day moving average price of $102.74 and a 200 day moving average price of $97.71. The company has a market cap of $5.59 billion, a P/E ratio of 21.07, a P/E/G ratio of 3.38 and a beta of 0.60. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 0.87. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $105.24.

IDACORP (NYSE:IDA) last issued its earnings results 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. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. The company had revenue of $451.04 million for the quarter, compared to analyst estimates of $420.56 million. During the same period in the prior year, the firm posted $1.35 EPS. As a group, analysts expect that IDACORP, Inc. will post 5.39 EPS for the current fiscal year.

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be given 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 yield of 3.28%. The ex-dividend date is Tuesday, November 5th. IDACORP’s dividend payout ratio is presently 69.08%.

Wall Street Analysts Forecast Growth

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

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.