Invesco Ltd. Sells 13,187 Shares of IDACORP, Inc. (NYSE:IDA)

Invesco Ltd. cut its holdings in IDACORP, Inc. (NYSE:IDA) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,864 shares of the energy company’s stock after selling 13,187 shares during the quarter. Invesco Ltd. owned 0.44% of IDACORP worth $25,775,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in shares of IDACORP by 43.3% during the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company’s stock valued at $374,279,000 after buying an additional 1,035,133 shares during the period. Reaves W H & Co. Inc. lifted its position in IDACORP by 75.4% during the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock valued at $109,103,000 after purchasing an additional 429,276 shares in the last quarter. Raymond James Financial Inc. bought a new stake in IDACORP during the fourth quarter valued at about $37,104,000. Vanguard Group Inc. increased its position in IDACORP by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company’s stock worth $660,786,000 after buying an additional 77,230 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of IDACORP by 14.2% in the fourth quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company’s stock worth $59,509,000 after buying an additional 67,568 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

IDACORP Stock Performance

NYSE:IDA opened at $119.18 on Friday. 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 stock’s fifty day moving average is $115.09 and its 200 day moving average is $111.70. The firm has a market capitalization of $6.44 billion, a PE ratio of 21.75, a PEG ratio of 2.32 and a beta of 0.56. IDACORP, Inc. has a fifty-two week low of $90.64 and a fifty-two week high of $120.84.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. The firm had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. On average, sell-side analysts anticipate 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 will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.89%. IDACORP’s dividend payout ratio (DPR) is presently 62.77%.

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.