IDACORP, Inc. (NYSE:IDA) Shares Sold by Commerce Bank

Commerce Bank lowered its position in IDACORP, Inc. (NYSE:IDA) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,493 shares of the energy company’s stock after selling 150 shares during the quarter. Commerce Bank’s holdings in IDACORP were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. purchased a new position in shares of IDACORP during the 2nd quarter valued at approximately $8,032,000. Tidal Investments LLC grew its position in shares of IDACORP by 120.6% in the 1st quarter. Tidal Investments LLC now owns 9,341 shares of the energy company’s stock worth $867,000 after acquiring an additional 5,106 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in IDACORP by 25.1% in the first quarter. Westwood Holdings Group Inc. now owns 256,446 shares of the energy company’s stock worth $23,821,000 after purchasing an additional 51,521 shares during the period. Edgestream Partners L.P. bought a new stake in shares of IDACORP during the 2nd quarter valued at about $1,833,000. Finally, GSA Capital Partners LLP bought a new position in shares of IDACORP during the third quarter valued at approximately $3,228,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Up 0.0 %

Shares of IDA stock opened at $118.95 on Tuesday. The stock has a fifty day moving average price of $107.00 and a 200 day moving average price of $100.68. The stock has a market cap of $6.34 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 2.64 and a beta of 0.60. IDACORP, Inc. has a one year low of $86.43 and a one year high of $120.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The business had revenue of $528.53 million for the quarter, compared to the consensus estimate of $524.39 million. During the same quarter last year, the company earned $2.07 earnings per share. Analysts predict that IDACORP, Inc. will post 5.42 earnings per share for the current year.

IDACORP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.86 per share. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.89%. This is a boost from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s dividend payout ratio (DPR) is 63.82%.

Wall Street Analysts Forecast Growth

IDA has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group started coverage on shares of IDACORP in a report on Friday, September 20th. They issued a “hold” rating and a $110.00 price target for the company. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their target price on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $108.83.

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.