Rhumbline Advisers Sells 15,812 Shares of IDACORP, Inc. (NYSE:IDA)

Rhumbline Advisers cut its position in shares of IDACORP, Inc. (NYSE:IDA) by 9.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 157,294 shares of the energy company’s stock after selling 15,812 shares during the period. Rhumbline Advisers owned approximately 0.29% of IDACORP worth $18,281,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in shares of IDACORP in the 4th quarter valued at about $45,000. Versant Capital Management Inc grew its position in IDACORP by 39.7% during the 1st quarter. Versant Capital Management Inc now owns 440 shares of the energy company’s stock worth $51,000 after purchasing an additional 125 shares during the last quarter. Jones Financial Companies Lllp grew its position in IDACORP by 1,333.3% during the 4th quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company’s stock worth $56,000 after purchasing an additional 480 shares during the last quarter. Asset Planning Inc purchased a new stake in IDACORP during the 4th quarter worth approximately $58,000. Finally, Steward Partners Investment Advisory LLC grew its position in IDACORP by 148.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 709 shares of the energy company’s stock worth $77,000 after purchasing an additional 424 shares during the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on IDA shares. Wells Fargo & Company upped their price objective on shares of IDACORP from $121.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Wall Street Zen cut shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. Bank of America upped their price objective on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Jefferies Financial Group upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 2nd. Finally, Guggenheim upped their price objective on shares of IDACORP from $121.00 to $126.00 and gave the company a “buy” rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, IDACORP has an average rating of “Hold” and a consensus target price of $122.86.

IDACORP Price Performance

IDACORP stock opened at $115.02 on Friday. IDACORP, Inc. has a 52 week low of $90.64 and a 52 week high of $120.84. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The firm’s 50-day simple moving average is $116.22 and its 200 day simple moving average is $113.88. The firm has a market capitalization of $6.21 billion, a PE ratio of 20.99, a P/E/G ratio of 2.32 and a beta of 0.58.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 EPS 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 analyst estimates of $442.24 million. During the same period in the previous year, the firm earned $0.95 EPS. On average, equities research analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 5th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Monday, May 5th. IDACORP’s dividend payout ratio is currently 61.10%.

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.