Charles Schwab Investment Management Inc. Sells 11,192 Shares of IDACORP, Inc. (NYSE:IDA)

Charles Schwab Investment Management Inc. decreased its holdings in IDACORP, Inc. (NYSE:IDA) by 1.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 688,387 shares of the energy company’s stock after selling 11,192 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in IDACORP were worth $80,004,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Reaves W H & Co. Inc. grew its holdings in 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 purchasing an additional 249,542 shares during the last quarter. R Squared Ltd grew its holdings in IDACORP by 10,766.7% in the first quarter. R Squared Ltd now owns 3,260 shares of the energy company’s stock worth $379,000 after purchasing an additional 3,230 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in IDACORP in the first quarter worth $6,341,000. Commerce Bank grew its holdings in IDACORP by 100.8% in the first quarter. Commerce Bank now owns 10,899 shares of the energy company’s stock worth $1,267,000 after purchasing an additional 5,472 shares during the last quarter. Finally, US Bancorp DE grew its holdings in IDACORP by 7.3% in the first quarter. US Bancorp DE now owns 25,954 shares of the energy company’s stock worth $3,016,000 after purchasing an additional 1,768 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

IDACORP Price Performance

NYSE:IDA opened at $126.87 on Thursday. IDACORP, Inc. has a one year low of $99.81 and a one year high of $127.01. 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 firm has a market cap of $6.85 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 2.66 and a beta of 0.56. The firm’s fifty day moving average is $118.69 and its two-hundred day moving average is $116.15.

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

IDACORP Dividend Announcement

The company also recently disclosed 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 dividend yield of 2.7%. IDACORP’s dividend payout ratio is 60.56%.

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.