IDACORP, Inc. (NYSE:IDA) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. trimmed its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,513 shares of the energy company’s stock after selling 524 shares during the quarter. Avantax Advisory Services Inc.’s holdings in IDACORP were worth $493,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of IDA. Reaves W H & Co. Inc. increased its position in shares of IDACORP by 75.4% during the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock valued at $109,103,000 after acquiring an additional 429,276 shares during the last quarter. Wellington Management Group LLP increased its holdings in IDACORP by 17.7% in 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 during the last quarter. Raymond James Financial Inc. acquired a new position in IDACORP during the fourth quarter worth $37,104,000. State Street Corp raised its holdings in shares of IDACORP by 5.5% in the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock valued at $170,789,000 after buying an additional 86,642 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of IDACORP by 14.2% during the fourth quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company’s stock worth $59,509,000 after purchasing an additional 67,568 shares in the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on IDA shares. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley upped their target price on shares of IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday. Bank of America lifted their price target on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. UBS Group increased their price objective on shares of IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Jefferies Financial Group decreased their price objective on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $120.50.

IDACORP Stock Down 1.6 %

Shares of NYSE:IDA opened at $114.32 on Monday. The firm has a 50 day simple moving average of $112.22 and a 200-day simple moving average of $109.88. IDACORP, Inc. has a twelve month low of $88.70 and a twelve month high of $120.42. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $6.17 billion, a PE ratio of 20.86, a P/E/G ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The firm had revenue of $398.13 million during the quarter, compared to analysts’ expectations of $403.21 million. On average, equities analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is 62.77%.

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.