Bank of Montreal Can Sells 3,200 Shares of IDACORP, Inc. (NYSE:IDA)

Bank of Montreal Can reduced its position in shares of IDACORP, Inc. (NYSE:IDA) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,770 shares of the energy company’s stock after selling 3,200 shares during the period. Bank of Montreal Can’s holdings in IDACORP were worth $2,051,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in IDACORP by 0.9% in the 4th quarter. Cerity Partners LLC now owns 23,728 shares of the energy company’s stock valued at $2,482,000 after buying an additional 213 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of IDACORP by 1.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 167,505 shares of the energy company’s stock valued at $18,305,000 after acquiring an additional 2,015 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in IDACORP during the fourth quarter worth $1,066,000. Wells Fargo & Company MN boosted its position in IDACORP by 2.7% in the fourth quarter. Wells Fargo & Company MN now owns 173,384 shares of the energy company’s stock worth $18,947,000 after purchasing an additional 4,527 shares during the last quarter. Finally, Pitcairn Co. grew its stake in IDACORP by 5.0% in the 4th quarter. Pitcairn Co. now owns 5,043 shares of the energy company’s stock valued at $551,000 after purchasing an additional 242 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Stock Performance

NYSE:IDA opened at $118.03 on Thursday. The business’s fifty day moving average is $114.76 and its 200 day moving average is $111.47. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.32 and a beta of 0.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. IDACORP, Inc. has a 52-week low of $89.61 and a 52-week high of $120.84.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The firm had revenue of $398.13 million for the quarter, compared to analysts’ expectations of $403.21 million. Research analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IDA shares. UBS Group boosted their price target on shares of IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Morgan Stanley lifted their price target on shares of IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Jefferies Financial Group raised IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. Finally, Bank of America boosted 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $120.50.

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.