Securian Asset Management Inc. Sells 114 Shares of IDACORP, Inc. (NYSE:IDA)

Securian Asset Management Inc. decreased its holdings in IDACORP, Inc. (NYSE:IDA) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,027 shares of the energy company’s stock after selling 114 shares during the period. Securian Asset Management Inc.’s holdings in IDACORP were worth $440,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of IDA. Legacy Investment Solutions LLC purchased a new stake in shares of IDACORP during the third quarter valued at $25,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of IDACORP by 98.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after acquiring an additional 120 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after acquiring an additional 301 shares during the last quarter. Independence Bank of Kentucky grew its stake in shares of IDACORP by 123.6% in the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after acquiring an additional 225 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of IDACORP during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

NYSE IDA opened at $116.01 on Tuesday. The business’s fifty day moving average is $111.69 and its 200 day moving average is $109.52. IDACORP, Inc. has a fifty-two week low of $88.70 and a fifty-two week high of $120.42. 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 company has a market capitalization of $6.26 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The firm had revenue of $398.13 million for the quarter, compared to analysts’ expectations of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. Sell-side analysts predict 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 was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were paid a $0.86 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.97%. IDACORP’s dividend payout ratio (DPR) is presently 62.77%.

Analysts Set New Price Targets

A number of research firms have commented on IDA. Jefferies Financial Group cut their target price on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Morgan Stanley upped their price objective on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Bank of America raised their target price on IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Finally, Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, IDACORP has a consensus rating of “Hold” and a consensus price target of $118.20.

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.