IDACORP, Inc. (NYSE:IDA) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. decreased its position in shares of IDACORP, Inc. (NYSE:IDA) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 326,988 shares of the energy company’s stock after selling 38,503 shares during the period. Westwood Holdings Group Inc. owned 0.61% of IDACORP worth $35,733,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of IDACORP by 43.3% in 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 purchasing an additional 1,035,133 shares during the last quarter. Reaves W H & Co. Inc. grew its stake 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 valued at $109,103,000 after purchasing an additional 429,276 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of IDACORP in the 4th quarter valued at approximately $37,104,000. Ameriprise Financial Inc. grew its stake in shares of IDACORP by 596.7% in 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 last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake 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 during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Up 1.4%

IDACORP stock opened at $117.18 on Tuesday. 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 company has a market cap of $6.33 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The stock’s 50 day moving average price is $115.91 and its 200 day moving average price is $113.70.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $442.24 million. During the same period in the previous year, the business earned $0.95 earnings per share. On average, sell-side analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The company 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 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 yield of 2.94%. IDACORP’s payout ratio is 61.10%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group lifted their target price on IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Jefferies Financial Group upgraded IDACORP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 2nd. StockNews.com downgraded IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. Bank of America lifted their target price on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Finally, Guggenheim lifted their price target on IDACORP from $121.00 to $126.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, IDACORP presently has a consensus rating of “Hold” and an average price target 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.