First American Trust FSB Trims Stake in IDACORP, Inc. (NYSE:IDA)

First American Trust FSB lowered its position in IDACORP, Inc. (NYSE:IDA) by 39.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,405 shares of the energy company’s stock after selling 2,239 shares during the quarter. First American Trust FSB’s holdings in IDACORP were worth $335,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in IDA. Chilton Capital Management LLC purchased a new position in IDACORP in the 1st quarter worth about $25,000. Headlands Technologies LLC bought a new position in IDACORP during the 3rd quarter worth about $40,000. State of Wyoming grew its holdings in IDACORP by 34.4% during the 2nd quarter. State of Wyoming now owns 426 shares of the energy company’s stock worth $44,000 after acquiring an additional 109 shares in the last quarter. Cohen & Steers Inc. grew its holdings in IDACORP by 33.8% during the 1st quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock worth $46,000 after acquiring an additional 101 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of IDACORP in the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of NYSE:IDA traded down $1.11 during trading on Tuesday, hitting $89.13. 35,648 shares of the stock traded hands, compared to its average volume of 386,206. The company has a quick ratio of 1.33, a current ratio of 1.58 and a debt-to-equity ratio of 0.95. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 17.55 and a beta of 0.56. The company has a fifty day moving average price of $90.08 and a two-hundred day moving average price of $94.07. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $112.96.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $411.95 million during the quarter, compared to analyst estimates of $429.84 million. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. During the same period in the previous year, the firm earned $0.83 EPS. As a group, equities analysts predict that IDACORP, Inc. will post 5.32 EPS for the current year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Monday, February 5th were paid a $0.83 dividend. The ex-dividend date was Friday, February 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 3.72%. IDACORP’s dividend payout ratio is currently 64.59%.

Analyst Upgrades and Downgrades

IDA has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th. Guggenheim cut shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a report on Monday, January 22nd. Mizuho lowered their price target on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating on the stock in a report on Tuesday, March 5th. TheStreet lowered shares of IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Finally, Morgan Stanley increased their price objective on shares of IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $93.80.

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.