Nuance Investments LLC Has $42 Million Stock Position in IDACORP, Inc. (NYSE:IDA)

Nuance Investments LLC decreased its holdings in IDACORP, Inc. (NYSE:IDA) by 51.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 384,317 shares of the energy company’s stock after selling 408,817 shares during the quarter. IDACORP makes up 1.7% of Nuance Investments LLC’s investment portfolio, making the stock its 20th biggest holding. Nuance Investments LLC owned approximately 0.72% of IDACORP worth $41,998,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Diversified Trust Co bought a new position in shares of IDACORP during the fourth quarter worth about $704,000. Algert Global LLC raised its holdings in IDACORP by 42.5% during the 3rd quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock worth $3,648,000 after purchasing an additional 10,550 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 worth $71,368,000 after purchasing an additional 35,651 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of IDACORP in the 4th quarter valued at $913,000. Finally, JPMorgan Chase & Co. increased its position in shares of IDACORP by 7.0% during the third quarter. JPMorgan Chase & Co. now owns 343,400 shares of the energy company’s stock worth $35,401,000 after buying an additional 22,485 shares during the period. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Stock Down 1.7 %

IDACORP stock opened at $112.23 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The stock has a market cap of $6.06 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a fifty-two week low of $88.70 and a fifty-two week high of $120.42. The firm’s 50-day simple moving average is $112.50 and its 200 day simple moving average is $110.01.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. Research analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is currently 62.77%.

Analyst Ratings Changes

IDA has been the subject of a number of recent analyst reports. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group cut their target price on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Bank of America lifted their price target on shares of IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. UBS Group raised their target price on IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Morgan Stanley boosted their target price on IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $120.50.

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.