Ferguson Wellman Capital Management Inc. Reduces Holdings in IDACORP, Inc. (NYSE:IDA)

Ferguson Wellman Capital Management Inc. decreased its position in shares of IDACORP, Inc. (NYSE:IDA) by 8.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,931 shares of the energy company’s stock after selling 185 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in IDACORP were worth $224,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of IDACORP by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company’s stock worth $660,786,000 after purchasing an additional 77,230 shares during the last quarter. Wellington Management Group LLP boosted its position in IDACORP by 43.3% during the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company’s stock worth $374,279,000 after purchasing an additional 1,035,133 shares during the period. T. Rowe Price Investment Management Inc. boosted its position 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 worth $208,692,000 after purchasing an additional 166,864 shares during the period. Alliancebernstein L.P. lifted its holdings in IDACORP by 2.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,379,408 shares of the energy company’s stock worth $150,742,000 after buying an additional 29,094 shares in the last quarter. Finally, Reaves W H & Co. Inc. lifted its holdings in IDACORP by 75.4% in the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock worth $109,103,000 after buying an additional 429,276 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IDA shares. Jefferies Financial Group upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 2nd. Guggenheim upped their target price on shares of IDACORP from $121.00 to $126.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. UBS Group cut their target price on shares of IDACORP from $121.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, June 2nd. Bank of America upped their target price 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. Finally, Wells Fargo & Company upped their target price on shares of IDACORP from $121.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $122.86.

IDACORP Price Performance

IDA opened at $113.85 on Friday. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 2.32 and a beta of 0.58. IDACORP, Inc. has a fifty-two week low of $90.64 and a fifty-two week high of $120.84. The company’s 50-day moving average price is $116.13 and its 200 day moving average price is $113.76. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.07. The firm had revenue of $432.46 million for the quarter, compared to analyst estimates of $442.24 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. During the same quarter in the prior year, the business earned $0.95 earnings per share. As a group, sell-side analysts expect 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 was paid on Friday, May 30th. Investors of record on Monday, May 5th were paid a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $3.44 annualized dividend and a yield of 3.02%. IDACORP’s dividend payout ratio (DPR) is 61.10%.

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.