DekaBank Deutsche Girozentrale Lowers Holdings in IDACORP, Inc. (NYSE:IDA)

DekaBank Deutsche Girozentrale trimmed its stake in IDACORP, Inc. (NYSE:IDA) by 20.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,842 shares of the energy company’s stock after selling 4,976 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in IDACORP were worth $1,842,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of IDA. BlackRock Inc. increased its holdings in shares of IDACORP by 1.7% during the 1st quarter. BlackRock Inc. now owns 6,316,570 shares of the energy company’s stock worth $684,274,000 after buying an additional 105,226 shares during the last quarter. Vanguard Group Inc. increased its stake in IDACORP by 1.9% during the third quarter. Vanguard Group Inc. now owns 6,118,190 shares of the energy company’s stock worth $605,762,000 after acquiring an additional 111,296 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of IDACORP by 3.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,031,531 shares of the energy company’s stock worth $326,951,000 after purchasing an additional 91,714 shares during the period. State Street Corp lifted its stake in shares of IDACORP by 15.2% in the 1st quarter. State Street Corp now owns 1,674,867 shares of the energy company’s stock valued at $193,213,000 after purchasing an additional 221,072 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of IDACORP in the 3rd quarter valued at about $101,858,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

IDACORP stock opened at $90.22 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.33. The firm’s fifty day moving average price is $90.07 and its 200 day moving average price is $94.10. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 17.55 and a beta of 0.56. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $112.96.

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

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Monday, February 5th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Friday, February 2nd. IDACORP’s payout ratio is 64.59%.

Analysts Set New Price Targets

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

IDACORP Company 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.