Cubist Systematic Strategies LLC Sells 67,273 Shares of IDACORP, Inc. (NYSE:IDA)

Cubist Systematic Strategies LLC lowered its position in shares of IDACORP, Inc. (NYSE:IDA) by 66.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,905 shares of the energy company’s stock after selling 67,273 shares during the period. Cubist Systematic Strategies LLC’s holdings in IDACORP were worth $3,705,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. AMG National Trust Bank increased its holdings in shares of IDACORP by 0.6% in the fourth quarter. AMG National Trust Bank now owns 15,248 shares of the energy company’s stock worth $1,670,000 after purchasing an additional 98 shares during the period. CENTRAL TRUST Co increased its stake in IDACORP by 13.7% in the 4th quarter. CENTRAL TRUST Co now owns 832 shares of the energy company’s stock worth $91,000 after acquiring an additional 100 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of IDACORP by 4.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company’s stock valued at $311,000 after acquiring an additional 112 shares in the last quarter. HighPoint Advisor Group LLC boosted its position in shares of IDACORP by 4.4% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,720 shares of the energy company’s stock valued at $303,000 after acquiring an additional 115 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IDA has been the subject of a number of research reports. Bank of America boosted 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. Jefferies Financial Group raised IDACORP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 2nd. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. UBS Group increased their price objective on IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Finally, Wells Fargo & Company boosted their target price on IDACORP from $121.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. One 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $123.57.

IDACORP Price Performance

IDA opened at $114.92 on Friday. 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 $90.64 and a 1 year high of $120.84. The stock’s 50 day simple moving average is $115.99 and its 200 day simple moving average is $113.16. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 2.32 and a beta of 0.59.

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

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be issued a dividend of $0.86 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.99%. IDACORP’s dividend payout ratio is currently 61.10%.

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.