SG Americas Securities LLC Lowers Stock Holdings in IDACORP, Inc. (NYSE:IDA)

SG Americas Securities LLC lowered its holdings in IDACORP, Inc. (NYSE:IDA) by 33.0% in the first quarter, Holdings Channel.com reports. The firm owned 27,047 shares of the energy company’s stock after selling 13,301 shares during the period. SG Americas Securities LLC’s holdings in IDACORP were worth $3,143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in IDA. Wellington Management Group LLP grew its position in shares of IDACORP by 43.3% in the fourth 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 period. Reaves W H & Co. Inc. grew its position in IDACORP by 75.4% during the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock valued at $109,103,000 after acquiring an additional 429,276 shares during the period. Raymond James Financial Inc. purchased a new stake in IDACORP during the fourth quarter valued at about $37,104,000. Ameriprise Financial Inc. grew its position in IDACORP by 596.7% during the fourth quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company’s stock valued at $41,451,000 after acquiring an additional 324,866 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its position in IDACORP by 9.6% during the fourth 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 acquiring an additional 166,864 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of NYSE IDA opened at $113.85 on Friday. IDACORP, Inc. has a 1-year low of $90.64 and a 1-year high of $120.84. The business has a 50-day moving average of $116.13 and a 200-day moving average of $113.76. 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 market capitalization of $6.15 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 2.32 and a beta of 0.58.

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

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 5th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Monday, May 5th. IDACORP’s dividend payout ratio (DPR) is 61.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IDA shares. Wells Fargo & Company boosted their price target on IDACORP from $121.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Bank of America boosted their price target on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Jefferies Financial Group raised IDACORP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 2nd. UBS Group lowered their price target on IDACORP from $121.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, June 2nd. Finally, Guggenheim boosted their price target on IDACORP from $121.00 to $126.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. One equities 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $122.86.

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.