WINTON GROUP Ltd Reduces Stake in IDACORP, Inc. (NYSE:IDA)

WINTON GROUP Ltd lessened its stake in shares of IDACORP, Inc. (NYSE:IDA) by 17.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,439 shares of the energy company’s stock after selling 501 shares during the quarter. WINTON GROUP Ltd’s holdings in IDACORP were worth $267,000 at the end of the most recent reporting period.

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

IDACORP Stock Up 0.5 %

Shares of NYSE IDA opened at $115.08 on Monday. The stock has a market capitalization of $6.21 billion, a P/E ratio of 21.00, a PEG ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a one year low of $88.70 and a one year high of $120.42. The firm’s 50 day simple moving average is $112.80 and its two-hundred day simple moving average is $110.24. 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 earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, beating the consensus estimate 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 net margin of 15.83% and a return on equity of 9.23%. As a group, analysts expect that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis 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%.

Wall Street Analyst Weigh In

Several research firms recently commented on IDA. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Morgan Stanley upped their price objective on shares of IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. UBS Group raised their target price on shares of IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Jefferies Financial Group cut their price target on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Finally, Bank of America raised their price objective on shares of IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $120.50.

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.