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

Vanguard Group Inc. reduced its holdings in IDACORP, Inc. (NYSE:IDA) by 0.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,012,346 shares of the energy company’s stock after selling 34,377 shares during the period. Vanguard Group Inc. owned about 11.13% of IDACORP worth $698,755,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in IDA. Jennison Associates LLC acquired a new stake in shares of IDACORP in the first quarter worth approximately $71,437,000. Raymond James Financial Inc. acquired a new stake in shares of IDACORP in the fourth quarter worth approximately $37,104,000. Ameriprise Financial Inc. boosted its stake in shares of IDACORP by 596.7% in the fourth quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company’s stock worth $41,451,000 after acquiring an additional 324,866 shares during the last quarter. Reaves W H & Co. Inc. boosted its stake in shares of IDACORP by 25.0% in the first quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company’s stock worth $145,034,000 after acquiring an additional 249,542 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of IDACORP by 9.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company’s stock worth $208,692,000 after acquiring an additional 166,864 shares during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Performance

Shares of IDACORP stock opened at $125.70 on Wednesday. IDACORP, Inc. has a one year low of $99.81 and a one year high of $126.70. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.63 and a beta of 0.56. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.12 and a current ratio of 1.45. The business’s 50 day moving average price is $118.46 and its 200 day moving average price is $116.08.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, July 31st. The energy company reported $1.76 EPS for the quarter, meeting analysts’ consensus estimates of $1.76. IDACORP had a return on equity of 9.18% and a net margin of 16.96%. The company had revenue of $531.10 million for the quarter, compared to the consensus estimate of $478.14 million. During the same quarter in the previous year, the business earned $1.71 earnings per share. On average, research analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th will be given a $0.86 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.7%. IDACORP’s payout ratio is currently 60.56%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wall Street Zen raised IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Wells Fargo & Company lifted their price target on IDACORP from $121.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Guggenheim lifted their price target on IDACORP from $121.00 to $126.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. UBS Group reiterated a “neutral” rating and set a $120.00 price objective (up previously from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Finally, Morgan Stanley set a $128.00 price objective on IDACORP and gave the stock an “equal weight” rating in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, IDACORP has a consensus rating of “Moderate Buy” and a consensus target price of $122.86.

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.