Allworth Financial LP Decreases Position in IDACORP, Inc. (NYSE:IDA)

Allworth Financial LP cut its stake in IDACORP, Inc. (NYSE:IDA) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,367 shares of the energy company’s stock after selling 222 shares during the quarter. Allworth Financial LP’s holdings in IDACORP were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Chilton Capital Management LLC bought a new stake in IDACORP during the first quarter valued at approximately $25,000. Cohen & Steers Inc. grew its position in IDACORP by 33.8% during the first quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock valued at $46,000 after buying an additional 101 shares during the period. State of Wyoming grew its position in IDACORP by 34.4% during the second quarter. State of Wyoming now owns 426 shares of the energy company’s stock valued at $44,000 after buying an additional 109 shares during the period. Headlands Technologies LLC bought a new stake in IDACORP during the third quarter valued at approximately $40,000. Finally, Lazard Asset Management LLC bought a new stake in IDACORP during the fourth quarter valued at approximately $50,000. 89.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IDA has been the subject of several recent research reports. Guggenheim lowered shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a research report on Monday, January 22nd. Wells Fargo & Company lowered their price target on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th. TheStreet downgraded shares of IDACORP from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Mizuho lowered their price target on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating on the stock in a report on Tuesday, March 5th. Finally, Morgan Stanley lifted their price target on shares of IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $93.80.

IDACORP Price Performance

IDA stock opened at $91.08 on Thursday. IDACORP, Inc. has a one year low of $86.43 and a one year high of $112.96. The company’s fifty day moving average price is $90.17 and its 200-day moving average price is $94.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.33 and a current ratio of 1.58. The company has a market capitalization of $4.62 billion, a PE ratio of 17.72 and a beta of 0.56.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 15th. The energy company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. The firm had revenue of $411.95 million for the quarter, compared to the consensus estimate of $429.84 million. During the same quarter in the previous year, the firm earned $0.83 earnings per share. On average, equities analysts anticipate that IDACORP, Inc. will post 5.32 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Monday, February 5th were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date was Friday, February 2nd. IDACORP’s payout ratio is 64.59%.

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.