Hennion & Walsh Asset Management Inc. Cuts Stake in IDACORP, Inc. (NYSE:IDA)

Hennion & Walsh Asset Management Inc. reduced its position in IDACORP, Inc. (NYSE:IDA) by 22.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,297 shares of the energy company’s stock after selling 1,860 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in IDACORP were worth $688,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Heritage Family Offices LLP purchased a new position in IDACORP in the fourth quarter worth $221,000. USA Financial Formulas purchased a new position in IDACORP in the fourth quarter worth $355,000. Park Avenue Securities LLC grew its holdings in IDACORP by 46.2% in the fourth quarter. Park Avenue Securities LLC now owns 3,660 shares of the energy company’s stock worth $400,000 after purchasing an additional 1,156 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in IDACORP in the fourth quarter worth $913,000. Finally, Eastern Bank grew its holdings in IDACORP by 211.8% in the fourth quarter. Eastern Bank now owns 1,559 shares of the energy company’s stock worth $170,000 after purchasing an additional 1,059 shares during the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on IDA. Mizuho raised shares of IDACORP from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $102.00 to $116.00 in a report on Friday, November 1st. Morgan Stanley boosted their price objective on shares of IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on shares of 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 raised shares of IDACORP from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $111.00.

IDACORP Trading Up 0.1 %

NYSE IDA opened at $110.33 on Tuesday. The company has a market capitalization of $5.88 billion, a PE ratio of 20.47, a P/E/G ratio of 2.19 and a beta of 0.65. The company has a fifty day moving average of $112.88 and a 200 day moving average of $105.65. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $120.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34.

IDACORP (NYSE:IDA) last posted its earnings results 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). The business had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same quarter in the prior year, the firm earned $2.07 earnings per share. Research analysts forecast that IDACORP, Inc. will post 5.41 earnings per share for the current year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be given a $0.86 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.12%. IDACORP’s dividend payout ratio (DPR) is currently 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.