IDACORP, Inc. (NYSE:IDA) Shares Sold by LVM Capital Management Ltd. MI

LVM Capital Management Ltd. MI reduced its position in IDACORP, Inc. (NYSE:IDA) by 0.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 120,742 shares of the energy company’s stock after selling 424 shares during the period. IDACORP comprises approximately 1.4% of LVM Capital Management Ltd. MI’s holdings, making the stock its 21st biggest holding. LVM Capital Management Ltd. MI’s holdings in IDACORP were worth $13,195,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System increased its stake in IDACORP by 1.9% in the second quarter. Arizona State Retirement System now owns 14,174 shares of the energy company’s stock valued at $1,320,000 after purchasing an additional 264 shares during the last quarter. Quest Partners LLC acquired a new position in IDACORP during the second quarter worth approximately $496,000. Ashton Thomas Private Wealth LLC purchased a new position in IDACORP during the second quarter worth approximately $35,000. Nuance Investments LLC boosted its holdings in shares of IDACORP by 19.0% in the 2nd quarter. Nuance Investments LLC now owns 1,114,475 shares of the energy company’s stock valued at $103,813,000 after purchasing an additional 178,294 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of IDACORP by 43.3% during the 2nd quarter. Federated Hermes Inc. now owns 50,228 shares of the energy company’s stock valued at $4,679,000 after buying an additional 15,175 shares during the period. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IDA has been the topic of several research reports. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their target price on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley raised their price target on shares of IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Jefferies Financial Group began coverage on shares of IDACORP in a research note on Friday, September 20th. They set a “hold” rating and a $110.00 price objective for the company. Finally, Bank of America raised shares of IDACORP from a “neutral” rating to a “buy” rating and raised their target price for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, IDACORP currently has an average rating of “Hold” and an average target price of $111.00.

IDACORP Stock Down 3.4 %

IDA stock traded down $3.75 during trading on Friday, reaching $106.68. The stock had a trading volume of 170,271 shares, compared to its average volume of 261,805. The firm has a fifty day moving average price of $113.24 and a 200 day moving average price of $104.69. 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 market capitalization of $5.68 billion, a P/E ratio of 19.79, a PEG ratio of 2.51 and a beta of 0.65. IDACORP, Inc. has a 1-year low of $86.43 and a 1-year high of $120.42.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). The business had revenue of $528.53 million during the quarter, compared to analysts’ expectations of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same period in the prior year, the company posted $2.07 EPS. On average, equities analysts anticipate that IDACORP, Inc. will post 5.41 earnings per share for the current year.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Tuesday, November 5th. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. 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.