SG Americas Securities LLC Sells 29,523 Shares of IDACORP, Inc. (NYSE:IDA)

SG Americas Securities LLC decreased its holdings in shares of IDACORP, Inc. (NYSE:IDAGet Rating) by 94.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,878 shares of the energy company’s stock after selling 29,523 shares during the quarter. SG Americas Securities LLC’s holdings in IDACORP were worth $199,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Truist Financial Corp boosted its holdings in shares of IDACORP by 2.8% in the 1st quarter. Truist Financial Corp now owns 47,002 shares of the energy company’s stock worth $5,423,000 after acquiring an additional 1,278 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in IDACORP in the 1st quarter valued at about $253,000. Comerica Bank increased its position in IDACORP by 3.1% in the 1st quarter. Comerica Bank now owns 26,044 shares of the energy company’s stock valued at $2,979,000 after acquiring an additional 784 shares in the last quarter. Keybank National Association OH raised its stake in shares of IDACORP by 7.0% in the first quarter. Keybank National Association OH now owns 2,168 shares of the energy company’s stock worth $250,000 after acquiring an additional 142 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of IDACORP by 0.5% during the first quarter. Nisa Investment Advisors LLC now owns 108,600 shares of the energy company’s stock worth $12,528,000 after purchasing an additional 495 shares in the last quarter. 80.09% of the stock is owned by institutional investors.

IDACORP Price Performance

Shares of IDA stock opened at $102.08 on Friday. The firm’s 50 day moving average price is $102.98 and its two-hundred day moving average price is $105.95. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.19 and a current ratio of 1.39. IDACORP, Inc. has a 52-week low of $93.53 and a 52-week high of $118.92. The stock has a market cap of $5.16 billion, a PE ratio of 20.71, a PEG ratio of 5.89 and a beta of 0.59.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 2nd will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, November 1st. This is a boost from IDACORP’s previous quarterly dividend of $0.75. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.10%. IDACORP’s payout ratio is 64.10%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com initiated coverage on shares of IDACORP in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Bank of America cut IDACORP from a “buy” rating to a “neutral” rating and lowered their target price for the company from $115.00 to $103.00 in a research note on Monday, November 7th. They noted that the move was a valuation call. Finally, Wells Fargo & Company upped their price target on IDACORP from $99.00 to $102.00 and gave the company an “equal weight” rating in a research note on Friday, November 4th.

About IDACORP

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IDACORP, Inc is a holding company, which engages in the generation, transmission, distribution, sale, and purchase of electric energy. The firm owns and operates hydroelectric plants on the Snake River and its tributaries. It operates through the following segments: Utilities Operations and Other. The Utilities Operations segment focuses on the production of electricity.

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Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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