Stifel Financial Corp Sells 677 Shares of IDACORP, Inc. (NYSE:IDA)

Stifel Financial Corp decreased its holdings in IDACORP, Inc. (NYSE:IDA) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,657 shares of the energy company’s stock after selling 677 shares during the quarter. Stifel Financial Corp’s holdings in IDACORP were worth $2,542,000 at the end of the most recent reporting period.

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

IDACORP Stock Down 3.0 %

IDA stock opened at $108.79 on Thursday. The company has a market cap of $5.80 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 2.51 and a beta of 0.64. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $120.42. The stock’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 announced its quarterly 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). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The business had revenue of $528.53 million for the quarter, compared to the consensus estimate of $524.39 million. During the same quarter last year, the firm posted $2.07 EPS. On average, research analysts expect that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on IDA shares. Jefferies Financial Group started coverage on shares of IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 price objective on the stock. Morgan Stanley upped their price target on shares of IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and upped their target price for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. Finally, StockNews.com downgraded IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, IDACORP currently has a consensus rating of “Hold” and an average price target of $111.00.

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.