First Hawaiian Bank Sells 3,004 Shares of IDACORP, Inc. (NYSE:IDA)

First Hawaiian Bank decreased its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 41.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,194 shares of the energy company’s stock after selling 3,004 shares during the quarter. First Hawaiian Bank’s holdings in IDACORP were worth $390,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of IDACORP by 50.3% during the 4th quarter. Wellington Management Group LLP now owns 1,634,463 shares of the energy company’s stock valued at $160,700,000 after buying an additional 546,818 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of IDACORP by 29.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,194,847 shares of the energy company’s stock valued at $117,477,000 after purchasing an additional 273,560 shares during the last quarter. American Trust boosted its holdings in shares of IDACORP by 13.7% in the 3rd quarter. American Trust now owns 828,208 shares of the energy company’s stock worth $77,562,000 after purchasing an additional 100,016 shares during the period. First Trust Advisors LP boosted its holdings in shares of IDACORP by 0.9% in the 4th quarter. First Trust Advisors LP now owns 761,621 shares of the energy company’s stock worth $74,883,000 after purchasing an additional 7,008 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in IDACORP by 10.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 649,195 shares of the energy company’s stock valued at $63,829,000 after buying an additional 61,546 shares during the period. Institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of IDA stock opened at $92.44 on Friday. The company has a market capitalization of $4.92 billion, a P/E ratio of 18.56 and a beta of 0.57. The company’s 50-day simple moving average is $94.40 and its two-hundred day simple moving average is $93.52. IDACORP, Inc. has a one year low of $86.43 and a one year high of $106.33. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.54 and a quick ratio of 1.19.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.06). IDACORP had a return on equity of 8.71% and a net margin of 14.18%. The firm had revenue of $448.94 million during the quarter, compared to the consensus estimate of $441.21 million. During the same period last year, the company earned $1.11 EPS. As a group, equities analysts anticipate that IDACORP, Inc. will post 5.36 EPS for the current year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Monday, May 6th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Friday, May 3rd. IDACORP’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IDA. StockNews.com upgraded shares of IDACORP to a “sell” rating in a research report on Friday, April 26th. Morgan Stanley upped their price target on shares of IDACORP from $96.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. Mizuho raised their price objective on shares of IDACORP from $88.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Finally, Wells Fargo & Company boosted their target price on IDACORP from $94.00 to $98.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, IDACORP has a consensus rating of “Hold” and a consensus target price of $97.40.

Insiders Place Their Bets

In other news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $95.09, for a total transaction of $142,635.00. Following the transaction, the vice president now directly owns 1,650 shares in the company, valued at $156,898.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.47% of the stock is owned by company insiders.

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.