Swiss National Bank Sells 1,500 Shares of IDACORP, Inc. (NYSE:IDA)

Swiss National Bank decreased its stake in shares of IDACORP, Inc. (NYSE:IDA) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 103,200 shares of the energy company’s stock after selling 1,500 shares during the quarter. Swiss National Bank owned about 0.19% of IDACORP worth $11,994,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IDA. Jennison Associates LLC purchased a new stake in IDACORP in the 1st quarter worth $71,437,000. Ameriprise Financial Inc. lifted its position 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 buying an additional 324,866 shares in the last quarter. Reaves W H & Co. Inc. boosted its stake in IDACORP by 25.0% during the first quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company’s stock valued at $145,034,000 after buying an additional 249,542 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in IDACORP by 9.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company’s stock valued at $208,692,000 after buying an additional 166,864 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in IDACORP by 13,941.6% during the 1st quarter. GAMMA Investing LLC now owns 85,654 shares of the energy company’s stock valued at $99,550,000 after buying an additional 85,044 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

IDA stock opened at $125.79 on Friday. The stock has a market cap of $6.80 billion, a PE ratio of 22.15, a P/E/G ratio of 2.68 and a beta of 0.56. IDACORP, Inc. has a 12 month low of $99.81 and a 12 month high of $127.09. The company has a 50-day moving average price of $118.91 and a 200 day moving average price of $116.26. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 1.01.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.76. The business had revenue of $531.10 million during the quarter, compared to the consensus estimate of $478.14 million. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. During the same quarter last year, the firm earned $1.71 earnings per share. Equities research analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The firm 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. This represents a $3.44 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 5th. IDACORP’s dividend payout ratio is 60.56%.

Wall Street Analysts Forecast Growth

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

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.