IDACORP, Inc. (NYSE:IDA) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lessened its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 16.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,885 shares of the energy company’s stock after selling 362 shares during the quarter. Artisan Partners Limited Partnership’s holdings in IDACORP were worth $206,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new stake in shares of IDACORP in the 3rd quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB raised its stake in IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after buying an additional 120 shares in the last quarter. Versant Capital Management Inc lifted its holdings in IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after buying an additional 301 shares during the last quarter. Independence Bank of Kentucky increased its holdings in shares of IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock valued at $44,000 after acquiring an additional 225 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of IDACORP during the 4th quarter valued at approximately $45,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IDA has been the subject of a number of research reports. Jefferies Financial Group decreased their price objective on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. UBS Group boosted their price objective on shares of IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley lifted their target price on IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Finally, Bank of America increased their price target on IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $120.50.

IDACORP Stock Up 0.5 %

IDA opened at $115.08 on Friday. The stock’s 50 day moving average price is $112.80 and its 200 day moving average price is $110.19. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The stock has a market cap of $6.21 billion, a P/E ratio of 21.00, a P/E/G ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a 12 month low of $88.70 and a 12 month high of $120.42.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The company had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. As a group, research analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is presently 62.77%.

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.