IDACORP, Inc. (NYSE:IDA) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lessened its stake in IDACORP, Inc. (NYSE:IDA) by 62.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,699 shares of the energy company’s stock after selling 6,086 shares during the quarter. Cresset Asset Management LLC’s holdings in IDACORP were worth $404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AMG National Trust Bank increased its holdings in IDACORP by 0.6% in the 4th quarter. AMG National Trust Bank now owns 15,248 shares of the energy company’s stock worth $1,670,000 after acquiring an additional 98 shares in the last quarter. CENTRAL TRUST Co increased its holdings 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 in the last quarter. Perigon Wealth Management LLC increased its holdings in IDACORP by 4.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company’s stock worth $311,000 after acquiring an additional 112 shares in the last quarter. HighPoint Advisor Group LLC increased its holdings in IDACORP by 4.4% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,720 shares of the energy company’s stock worth $303,000 after acquiring an additional 115 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Trading Up 3.0%

Shares of IDA stock opened at $114.33 on Friday. The company’s 50-day moving average price is $115.87 and its 200-day moving average price is $113.38. 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 stock has a market cap of $6.18 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a twelve month low of $90.64 and a twelve month high of $120.84.

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

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be given a $0.86 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.01%. IDACORP’s payout ratio is currently 61.10%.

Analysts Set New Price Targets

Several equities research analysts recently commented on IDA shares. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, April 30th. Jefferies Financial Group raised shares of IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. Bank of America upped their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Wells Fargo & Company upped their target price on shares of IDACORP from $121.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Finally, UBS Group upped their target price on shares of IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. 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’s stock. Based on data from MarketBeat.com, IDACORP has a consensus rating of “Hold” and a consensus 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.