Allworth Financial LP Sells 1,124 Shares of IDACORP, Inc. (NYSE:IDA)

Allworth Financial LP trimmed its stake in IDACORP, Inc. (NYSE:IDA) by 39.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,723 shares of the energy company’s stock after selling 1,124 shares during the quarter. Allworth Financial LP’s holdings in IDACORP were worth $186,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Diversified Trust Co bought a new stake in IDACORP in the fourth quarter worth $704,000. Algert Global LLC boosted its holdings in IDACORP by 42.5% in the third quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock worth $3,648,000 after acquiring an additional 10,550 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in IDACORP by 67.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock worth $4,918,000 after acquiring an additional 19,274 shares in the last quarter. GSA Capital Partners LLP bought a new stake in IDACORP in the third quarter worth $3,228,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of IDACORP by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock valued at $71,368,000 after purchasing an additional 35,651 shares in the last quarter. 89.10% of the stock is owned by institutional investors.

IDACORP Stock Up 1.1 %

IDACORP stock opened at $113.98 on Friday. The stock has a market cap of $6.07 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65. 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 one year low of $86.47 and a one year high of $120.42. The stock has a fifty day moving average of $109.90 and a 200 day moving average of $107.95.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The company had revenue of $398.13 million during the quarter, compared to analysts’ expectations of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. As a group, sell-side analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Wednesday, February 5th. IDACORP’s payout ratio is 62.77%.

Analyst Upgrades and Downgrades

IDA has been the topic of a number of research analyst reports. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and upped their price target for the company from $102.00 to $116.00 in a report on Friday, November 1st. Jefferies Financial Group lowered their price target on IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and upped their price target for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. Finally, Morgan Stanley upped their price target on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $116.20.

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.