IDACORP, Inc. (NYSE:IDA) Shares Sold by XTX Topco Ltd

XTX Topco Ltd decreased its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 63.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,278 shares of the energy company’s stock after selling 3,914 shares during the quarter. XTX Topco Ltd’s holdings in IDACORP were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Trust Point Inc. lifted its stake in shares of IDACORP by 1.4% during the third quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock worth $760,000 after purchasing an additional 101 shares in the last quarter. Blue Trust Inc. lifted its position in IDACORP by 7.5% during the 3rd quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock worth $157,000 after acquiring an additional 106 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in IDACORP by 1.7% in the 2nd quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock worth $597,000 after acquiring an additional 107 shares during the period. Pitcairn Co. grew its position in IDACORP by 2.3% in the third quarter. Pitcairn Co. now owns 4,801 shares of the energy company’s stock valued at $495,000 after acquiring an additional 107 shares in the last quarter. Finally, Fortem Financial Group LLC raised its stake in shares of IDACORP by 1.2% during the second quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company’s stock valued at $866,000 after purchasing an additional 112 shares during the period. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Stock Performance

Shares of IDA stock opened at $108.79 on Thursday. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 2.51 and a beta of 0.64. IDACORP, Inc. has a one year low of $86.43 and a one year high of $120.42. The company’s 50-day simple moving average is $111.27 and its 200-day simple moving average is $102.85. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). The firm had revenue of $528.53 million for the quarter, compared to the consensus estimate of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same period in the prior year, the business earned $2.07 EPS. Equities analysts anticipate that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.86 per share. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $3.44 annualized dividend and a yield of 3.16%. IDACORP’s payout ratio is presently 63.82%.

Wall Street Analysts Forecast Growth

IDA has been the subject of several analyst reports. StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and raised their target price for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Wells Fargo & Company boosted their price target on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price target on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group initiated coverage on IDACORP in a report on Friday, September 20th. They set a “hold” rating and a $110.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $111.00.

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.