RW Investment Management LLC Has $1.21 Million Holdings in IDACORP, Inc. (NYSE:IDA)

RW Investment Management LLC cut its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 13.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,950 shares of the energy company’s stock after selling 2,061 shares during the period. IDACORP makes up approximately 0.2% of RW Investment Management LLC’s investment portfolio, making the stock its 27th largest holding. RW Investment Management LLC’s holdings in IDACORP were worth $1,206,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IDA. Rise Advisors LLC raised its position 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 period. Ashton Thomas Private Wealth LLC bought a new stake in IDACORP during the 2nd quarter worth approximately $35,000. Mather Group LLC. acquired a new stake in IDACORP during the 1st quarter worth approximately $41,000. Kapitalo Investimentos Ltda bought a new position in IDACORP in the fourth quarter valued at approximately $54,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of IDACORP by 19.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock valued at $68,000 after buying an additional 112 shares during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Jefferies Financial Group assumed coverage on IDACORP in a research note on Friday. They issued a “hold” rating and a $110.00 price target on the stock. Morgan Stanley upped their price objective on IDACORP from $94.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Finally, Bank of America assumed coverage on IDACORP in a report on Thursday, September 12th. They set a “neutral” rating and a $110.00 price objective for the company. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $102.71.

IDACORP Price Performance

NYSE:IDA opened at $102.22 on Friday. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $105.24. The company has a market cap of $5.44 billion, a P/E ratio of 20.53 and a beta of 0.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 1.55. The stock’s 50-day simple moving average is $100.80 and its 200 day simple moving average is $95.81.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.34. The firm had revenue of $451.04 million for 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 quarter in the previous year, the firm earned $1.35 EPS. As a group, sell-side analysts forecast that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 5th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.25%. The ex-dividend date was Monday, August 5th. IDACORP’s dividend payout ratio (DPR) 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.