Tower Research Capital LLC TRC Sells 700 Shares of IDACORP, Inc. (NYSE:IDA)

Tower Research Capital LLC TRC lessened its holdings in IDACORP, Inc. (NYSE:IDA) by 20.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,763 shares of the energy company’s stock after selling 700 shares during the period. Tower Research Capital LLC TRC’s holdings in IDACORP were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Diversified Trust Co acquired a new stake in shares of IDACORP during the fourth quarter worth $704,000. Assenagon Asset Management S.A. acquired a new position in shares of IDACORP in the 4th quarter valued at approximately $913,000. JPMorgan Chase & Co. raised its holdings in shares of IDACORP by 7.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 343,400 shares of the energy company’s stock worth $35,401,000 after buying an additional 22,485 shares in the last quarter. Apollon Wealth Management LLC bought a new stake in shares of IDACORP during the 4th quarter worth $213,000. Finally, Van ECK Associates Corp boosted its stake in IDACORP by 14.2% in the fourth quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company’s stock valued at $1,809,000 after buying an additional 2,056 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on IDA shares. Morgan Stanley boosted their target price on IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Bank of America upped their price objective on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. UBS Group boosted their price objective on shares of IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Wells Fargo & Company lifted their target price on shares of IDACORP from $121.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $123.57.

IDACORP Trading Up 1.0 %

NYSE IDA opened at $117.43 on Friday. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 2.32 and a beta of 0.56. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a 52 week low of $90.64 and a 52 week high of $120.84. The business has a 50 day moving average price of $116.09 and a 200-day moving average price of $112.77.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The business had revenue of $432.46 million for the quarter, compared to analysts’ expectations of $442.24 million. During the same period in the previous year, the company earned $0.95 earnings per share. As a group, equities analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Monday, May 5th. IDACORP’s payout ratio is 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.