IDACORP, Inc. (NYSE:IDA) Shares Sold by Ghisallo Capital Management LLC

Ghisallo Capital Management LLC reduced its position in IDACORP, Inc. (NYSE:IDA) by 50.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the energy company’s stock after selling 25,000 shares during the period. Ghisallo Capital Management LLC’s holdings in IDACORP were worth $2,329,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC boosted its holdings in shares of IDACORP by 65.8% during the second quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock worth $34,000 after purchasing an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of IDACORP during the second quarter valued at approximately $35,000. Mather Group LLC. bought a new position in shares of IDACORP during the first quarter valued at approximately $41,000. Kapitalo Investimentos Ltda acquired a new position in shares of IDACORP during the fourth quarter worth approximately $54,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of IDACORP during the second quarter worth approximately $71,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

IDACORP Trading Up 0.3 %

Shares of NYSE:IDA opened at $103.39 on Wednesday. The company has a market capitalization of $5.50 billion, a P/E ratio of 20.76, a P/E/G ratio of 3.46 and a beta of 0.60. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $105.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17. The business’s 50 day simple moving average is $101.96 and its 200 day simple moving average is $96.49.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.34. The business had revenue of $451.04 million during the quarter, compared to analyst estimates of $420.56 million. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. During the same period last year, the company earned $1.35 EPS. On average, research analysts anticipate that IDACORP, Inc. will post 5.39 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 5th were given a $0.83 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.32 annualized dividend and a yield of 3.21%. IDACORP’s dividend payout ratio is currently 66.67%.

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.