IDACORP, Inc. (NYSE:IDA) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. lowered its position in IDACORP, Inc. (NYSE:IDA) by 3.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,160 shares of the energy company’s stock after selling 251 shares during the period. Raymond James Trust N.A.’s holdings in IDACORP were worth $635,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of IDACORP by 5.4% in the 3rd 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in IDACORP by 11.6% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 190,927 shares of the energy company’s stock valued at $19,683,000 after purchasing an additional 19,770 shares during the period. Advisors Asset Management Inc. increased its position in shares of IDACORP by 78.0% in the third quarter. Advisors Asset Management Inc. now owns 6,014 shares of the energy company’s stock valued at $620,000 after buying an additional 2,635 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of IDACORP by 67.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock worth $4,918,000 after buying an additional 19,274 shares during the period. Finally, Hilton Capital Management LLC lifted its position in shares of IDACORP by 15.9% during the 3rd quarter. Hilton Capital Management LLC now owns 16,142 shares of the energy company’s stock valued at $1,664,000 after buying an additional 2,220 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IDA has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Jefferies Financial Group started coverage on IDACORP in a report on Friday, September 20th. They set a “hold” rating and a $110.00 target price for the company. Finally, Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, IDACORP has a consensus rating of “Hold” and an average price target of $108.83.

IDACORP Price Performance

IDA stock opened at $118.95 on Tuesday. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $120.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The firm has a market capitalization of $6.34 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 2.64 and a beta of 0.60. The business has a 50 day simple moving average of $107.00 and a 200-day simple moving average of $100.68.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The company had revenue of $528.53 million during the quarter, compared to analysts’ expectations of $524.39 million. During the same quarter in the previous year, the company earned $2.07 earnings per share. Equities research analysts anticipate that IDACORP, Inc. will post 5.42 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.86 per share. The ex-dividend date is Tuesday, November 5th. This is an increase from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 dividend on an annualized basis and a yield of 2.89%. IDACORP’s payout ratio is 63.82%.

IDACORP 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.