IDACORP, Inc. (NYSE:IDA) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lessened its holdings in IDACORP, Inc. (NYSE:IDA) by 11.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,981 shares of the energy company’s stock after selling 532 shares during the period. Avantax Advisory Services Inc.’s holdings in IDACORP were worth $463,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elite Financial Inc. purchased a new stake in IDACORP during the 1st quarter worth approximately $29,000. Opal Wealth Advisors LLC purchased a new stake in shares of IDACORP in the first quarter valued at approximately $34,000. Farther Finance Advisors LLC grew its position in shares of IDACORP by 879.1% in the first quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company’s stock valued at $49,000 after purchasing an additional 378 shares in the last quarter. Versant Capital Management Inc lifted its holdings in IDACORP by 39.7% in the first quarter. Versant Capital Management Inc now owns 440 shares of the energy company’s stock valued at $51,000 after acquiring an additional 125 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in IDACORP by 20.8% in the first quarter. GAMMA Investing LLC now owns 737 shares of the energy company’s stock valued at $86,000 after acquiring an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

IDA has been the topic of a number of research reports. Wall Street Zen upgraded IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Wells Fargo & Company increased their target price on IDACORP from $121.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Guggenheim raised their price objective on IDACORP from $121.00 to $126.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Morgan Stanley set a $128.00 target price on shares of IDACORP and gave the stock an “equal weight” rating in a research note on Thursday, May 22nd. Finally, UBS Group reaffirmed a “neutral” rating and issued a $120.00 price objective (up previously from $118.00) on shares of IDACORP in a report on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, IDACORP currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.86.

IDACORP Price Performance

IDA stock opened at $124.95 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 1.01. IDACORP, Inc. has a 12-month low of $99.81 and a 12-month high of $126.70. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.65 and a beta of 0.56. The firm has a 50 day moving average of $117.89 and a 200-day moving average of $115.61.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.76. The firm had revenue of $531.10 million during the quarter, compared to the consensus estimate of $478.14 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%. During the same period in the previous year, the firm posted $1.71 EPS. As a group, equities analysts expect that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, August 5th. IDACORP’s payout ratio is presently 60.56%.

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.