OneDigital Investment Advisors LLC Sells 1,618 Shares of IDACORP, Inc. (NYSE:IDA)

OneDigital Investment Advisors LLC cut its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 38.2% in the 3rd quarter, Holdings Channel reports. The firm owned 2,614 shares of the energy company’s stock after selling 1,618 shares during the period. OneDigital Investment Advisors LLC’s holdings in IDACORP were worth $269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of IDA. Advisors Asset Management Inc. boosted its stake in IDACORP by 1,020.9% in the first quarter. Advisors Asset Management Inc. now owns 2,253 shares of the energy company’s stock valued at $209,000 after buying an additional 2,052 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of IDACORP by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 55,144 shares of the energy company’s stock valued at $5,123,000 after purchasing an additional 2,158 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in IDACORP during the 1st quarter worth approximately $314,000. Tidal Investments LLC lifted its stake in IDACORP by 120.6% in the 1st quarter. Tidal Investments LLC now owns 9,341 shares of the energy company’s stock valued at $867,000 after purchasing an additional 5,106 shares during the last quarter. Finally, Atria Investments Inc acquired a new stake in IDACORP in the first quarter valued at approximately $1,023,000. Institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $102.00 to $116.00 in a report on Friday, November 1st. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and increased their target price for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Morgan Stanley lifted their target price on shares of IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group assumed coverage on shares of IDACORP in a research report on Friday, September 20th. They issued a “hold” rating and a $110.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $108.83.

IDACORP Trading Up 0.1 %

IDA opened at $118.91 on Friday. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $120.02. The company has a fifty day moving average of $106.71 and a 200-day moving average of $100.48. The stock has a market cap of $6.33 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 2.61 and a beta of 0.60. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The business had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. During the same period in the prior year, the firm earned $2.07 earnings per share. On average, sell-side analysts predict that IDACORP, Inc. will post 5.42 EPS for the current year.

IDACORP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Tuesday, November 5th. This is an increase from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s payout ratio is presently 63.82%.

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.