Deprince Race & Zollo Inc. Trims Stake in IDACORP, Inc. (NYSE:IDA)

Deprince Race & Zollo Inc. cut its position in shares of IDACORP, Inc. (NYSE:IDA) by 34.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 330,175 shares of the energy company’s stock after selling 170,934 shares during the period. Deprince Race & Zollo Inc. owned approximately 0.62% of IDACORP worth $36,082,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in IDACORP by 43.3% during the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company’s stock valued at $374,279,000 after acquiring an additional 1,035,133 shares during the period. Reaves W H & Co. Inc. lifted its holdings in shares of IDACORP by 75.4% in the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock worth $109,103,000 after buying an additional 429,276 shares during the period. Raymond James Financial Inc. bought a new position in IDACORP during the 4th quarter worth about $37,104,000. Ameriprise Financial Inc. increased its position in IDACORP by 596.7% during the 4th quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company’s stock valued at $41,451,000 after purchasing an additional 324,866 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of IDACORP by 9.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company’s stock valued at $208,692,000 after purchasing an additional 166,864 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Stock Down 0.3 %

Shares of NYSE IDA opened at $116.31 on Thursday. The company has a market capitalization of $6.28 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.32 and a beta of 0.59. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The company has a 50 day simple moving average of $116.10 and a 200-day simple moving average of $113.02. IDACORP, Inc. has a 1 year low of $90.64 and a 1 year high of $120.84.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The firm had revenue of $432.46 million during the quarter, compared to the consensus estimate of $442.24 million. During the same period last year, the company earned $0.95 EPS. On average, equities research analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 5th will be issued a $0.86 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.44 annualized dividend and a yield of 2.96%. IDACORP’s dividend payout ratio (DPR) is presently 61.10%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. Bank of America increased their target price on shares of IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Morgan Stanley raised their price objective on IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Guggenheim increased their price objective on shares of IDACORP from $121.00 to $126.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Finally, Jefferies Financial Group raised IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, IDACORP presently has an average rating of “Hold” and an average target price of $123.57.

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.