SG Americas Securities LLC Sells 236 Shares of IDACORP, Inc. (NYSE:IDA)

SG Americas Securities LLC lessened its stake in IDACORP, Inc. (NYSE:IDA) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,366 shares of the energy company’s stock after selling 236 shares during the quarter. SG Americas Securities LLC’s holdings in IDACORP were worth $1,904,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of IDA. BlackRock Inc. grew its stake in IDACORP by 1.7% in the 1st quarter. BlackRock Inc. now owns 6,316,570 shares of the energy company’s stock valued at $684,274,000 after buying an additional 105,226 shares in the last quarter. Vanguard Group Inc. grew its stake in IDACORP by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,118,190 shares of the energy company’s stock valued at $605,762,000 after buying an additional 111,296 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in IDACORP by 3.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,031,531 shares of the energy company’s stock valued at $326,951,000 after buying an additional 91,714 shares in the last quarter. State Street Corp grew its stake in IDACORP by 15.2% in the 1st quarter. State Street Corp now owns 1,674,867 shares of the energy company’s stock valued at $193,213,000 after buying an additional 221,072 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in IDACORP in the 3rd quarter valued at approximately $101,858,000. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Up 2.1 %

IDA opened at $92.40 on Thursday. The company has a fifty day moving average price of $90.28 and a 200-day moving average price of $94.53. The firm has a market capitalization of $4.68 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 3.89 and a beta of 0.55. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.33. IDACORP, Inc. has a one year low of $86.43 and a one year high of $112.96.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, February 15th. The energy company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. The company had revenue of $411.95 million during the quarter, compared to the consensus estimate of $429.84 million. During the same period in the previous year, the firm posted $0.83 EPS. Equities research analysts expect that IDACORP, Inc. will post 5.32 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Monday, February 5th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Friday, February 2nd. IDACORP’s dividend payout ratio is currently 64.59%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Guggenheim lowered shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research note on Monday, January 22nd. TheStreet lowered shares of IDACORP from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Mizuho reduced their price target on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, March 5th. Wells Fargo & Company reduced their price target on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. Finally, Morgan Stanley boosted their price target on shares of IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.80.

About IDACORP

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.