F M Investments LLC Has $2.87 Million Position in IDACORP, Inc. (NYSE:IDA)

F M Investments LLC lowered its stake in shares of IDACORP, Inc. (NYSE:IDA) by 66.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,256 shares of the energy company’s stock after selling 51,936 shares during the period. F M Investments LLC’s holdings in IDACORP were worth $2,869,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in IDACORP during the 4th quarter valued at $37,104,000. Texas Yale Capital Corp. lifted its position in shares of IDACORP by 0.5% during the 4th quarter. Texas Yale Capital Corp. now owns 32,885 shares of the energy company’s stock valued at $3,594,000 after acquiring an additional 150 shares during the period. Martingale Asset Management L P grew its stake in IDACORP by 758.4% during the fourth quarter. Martingale Asset Management L P now owns 21,504 shares of the energy company’s stock worth $2,350,000 after buying an additional 18,999 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of IDACORP by 27.8% during the 4th quarter. Renaissance Technologies LLC now owns 110,800 shares of the energy company’s stock worth $12,108,000 after acquiring an additional 24,100 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of IDACORP by 0.9% in the 4th quarter. Cerity Partners LLC now owns 23,728 shares of the energy company’s stock valued at $2,482,000 after purchasing an additional 213 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Trading Up 0.5 %

Shares of IDA stock opened at $115.32 on Friday. IDACORP, Inc. has a 52-week low of $88.70 and a 52-week high of $120.84. The company has a 50-day simple moving average of $114.15 and a two-hundred day simple moving average of $111.10. 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 $6.23 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.32 and a beta of 0.56.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The company 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%. Research analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were paid a dividend of $0.86 per share. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.98%. IDACORP’s payout ratio is 62.77%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Bank of America raised their price objective on IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 2nd. Finally, Morgan Stanley boosted their price objective on IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, IDACORP currently has a consensus rating of “Hold” and a consensus target price of $120.50.

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.