Choreo LLC Reduces Stock Position in IDACORP, Inc. (NYSE:IDA)

Choreo LLC cut its holdings in IDACORP, Inc. (NYSE:IDA) by 16.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,308 shares of the energy company’s stock after selling 444 shares during the quarter. Choreo LLC’s holdings in IDACORP were worth $253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of IDACORP by 17.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock valued at $246,367,000 after purchasing an additional 359,553 shares in the last quarter. State Street Corp lifted its holdings in IDACORP by 5.5% in the third quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock worth $170,789,000 after buying an additional 86,642 shares during the period. Geode Capital Management LLC boosted its position in IDACORP by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock valued at $97,981,000 after acquiring an additional 36,063 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of IDACORP by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock worth $71,368,000 after acquiring an additional 35,651 shares during the period. Finally, GSA Capital Partners LLP bought a new position in shares of IDACORP in the 3rd quarter worth approximately $3,228,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

IDA has been the topic of several research reports. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and lifted their price target for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $102.00 to $116.00 in a report on Friday, November 1st. Morgan Stanley increased their price target on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $116.20.

IDACORP Stock Performance

Shares of IDACORP stock opened at $109.70 on Friday. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 2.28 and a beta of 0.65. 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, Inc. has a 1 year low of $86.47 and a 1 year high of $120.42. The firm’s 50-day moving average is $110.03 and its 200 day moving average is $107.52.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP’s payout ratio is 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.