Leeward Investments LLC MA Reduces Stake in IDACORP, Inc. $IDA

Leeward Investments LLC MA lessened its stake in shares of IDACORP, Inc. (NYSE:IDA) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 168,344 shares of the energy company’s stock after selling 3,790 shares during the period. IDACORP accounts for approximately 1.1% of Leeward Investments LLC MA’s portfolio, making the stock its 18th biggest position. Leeward Investments LLC MA owned about 0.31% of IDACORP worth $22,247,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IDA. Legacy Investment Solutions LLC purchased a new position in IDACORP during the second quarter worth about $28,000. Quent Capital LLC acquired a new stake in shares of IDACORP during the 3rd quarter worth approximately $30,000. Smartleaf Asset Management LLC raised its position in shares of IDACORP by 62.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock valued at $36,000 after buying an additional 119 shares during the period. Parkside Financial Bank & Trust raised its position in shares of IDACORP by 33.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock valued at $44,000 after buying an additional 96 shares during the period. Finally, SouthState Corp lifted its holdings in IDACORP by 2,475.0% in the second quarter. SouthState Corp now owns 515 shares of the energy company’s stock valued at $59,000 after acquiring an additional 495 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research note on Thursday, January 22nd. Wells Fargo & Company cut IDACORP from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $129.00 to $118.00 in a report on Tuesday, January 20th. Barclays initiated coverage on IDACORP in a research report on Wednesday, January 14th. They set an “overweight” rating and a $144.00 price objective for the company. Mizuho boosted their price objective on shares of IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Finally, Morgan Stanley lowered their target price on shares of IDACORP from $146.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.67.

IDACORP Trading Up 2.1%

Shares of NYSE IDA opened at $144.33 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $7.80 billion, a PE ratio of 24.80, a PEG ratio of 2.80 and a beta of 0.59. IDACORP, Inc. has a twelve month low of $108.15 and a twelve month high of $145.30. The stock has a fifty day simple moving average of $130.48 and a 200-day simple moving average of $129.37.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Thursday, February 5th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, February 5th. IDACORP’s dividend payout ratio is currently 60.48%.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.