Focus Partners Wealth Decreases Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Focus Partners Wealth reduced its position in shares of IDACORP, Inc. (NYSE:IDA) by 1.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,765 shares of the energy company’s stock after selling 415 shares during the quarter. Focus Partners Wealth owned approximately 0.06% of IDACORP worth $3,471,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in IDA. Assenagon Asset Management S.A. bought a new stake in shares of IDACORP in the fourth quarter worth about $913,000. Apollon Wealth Management LLC bought a new stake in shares of IDACORP during the fourth quarter valued at approximately $213,000. Van ECK Associates Corp lifted its position in IDACORP by 14.2% during the 4th quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company’s stock valued at $1,809,000 after acquiring an additional 2,056 shares during the period. Ballentine Partners LLC bought a new stake in IDACORP during the fourth quarter worth about $313,000. Finally, Barclays PLC grew its holdings in IDACORP by 90.9% in the third quarter. Barclays PLC now owns 27,184 shares of the energy company’s stock worth $2,803,000 after purchasing an additional 12,944 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Trading Up 3.0%

NYSE:IDA opened at $114.33 on Friday. The company has a market cap of $6.18 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The company has a 50 day simple moving average of $115.87 and a two-hundred day simple moving average of $113.38. IDACORP, Inc. has a 12 month low of $90.64 and a 12 month high of $120.84.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.07. The company had revenue of $432.46 million for the quarter, compared to the consensus estimate of $442.24 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. During the same quarter in the prior year, the company earned $0.95 earnings per share. Research analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be given a dividend of $0.86 per share. The ex-dividend date is Monday, May 5th. This represents a $3.44 annualized dividend and a dividend yield of 3.01%. IDACORP’s payout ratio is 61.10%.

Wall Street Analyst Weigh In

IDA has been the topic of a number of analyst reports. Guggenheim boosted their price target on IDACORP from $121.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. UBS Group lifted their price target on IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Bank of America increased their price objective on shares of IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Finally, Morgan Stanley increased their price target on shares of IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, IDACORP has a consensus rating of “Hold” and an average price target of $123.57.

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.