IDACORP, Inc. (NYSE:IDA) Shares Sold by Baron Wealth Management LLC

Baron Wealth Management LLC lessened its stake in IDACORP, Inc. (NYSE:IDA) by 9.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,968 shares of the energy company’s stock after selling 194 shares during the quarter. Baron Wealth Management LLC’s holdings in IDACORP were worth $203,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new position in shares of IDACORP in the 3rd quarter worth about $26,000. Rise Advisors LLC grew its stake in IDACORP by 65.8% during the second quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock worth $34,000 after buying an additional 146 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of IDACORP in the second quarter worth $35,000. Eastern Bank purchased a new position in shares of IDACORP in the 3rd quarter valued at $52,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of IDACORP during the 2nd quarter valued at $71,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Stock Down 0.7 %

Shares of NYSE:IDA opened at $117.77 on Wednesday. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $119.65. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The firm has a market cap of $6.27 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 2.61 and a beta of 0.60. The company has a fifty day simple moving average of $105.79 and a 200 day simple moving average of $100.07.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.05). IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The company had revenue of $528.53 million during the quarter, compared to the consensus estimate of $524.39 million. During the same period in the previous year, the firm posted $2.07 EPS. On average, equities research analysts anticipate that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Increases Dividend

The company 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. This represents a $3.44 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, November 5th. This is an increase from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s dividend payout ratio (DPR) is currently 63.82%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and increased their target price for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. Morgan Stanley boosted their price target on IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group assumed coverage on shares of IDACORP in a research report on Friday, September 20th. They issued a “hold” rating and a $110.00 price objective for the company. Finally, Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $102.00 to $116.00 in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to 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.