IDACORP, Inc. (NYSE:IDA) Shares Sold by Benjamin Edwards Inc.

Benjamin Edwards Inc. cut its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,305 shares of the energy company’s stock after selling 583 shares during the period. Benjamin Edwards Inc. owned about 0.07% of IDACORP worth $3,471,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Commonwealth Equity Services LLC grew its stake in IDACORP by 0.8% in the third quarter. Commonwealth Equity Services LLC now owns 15,335 shares of the energy company’s stock worth $1,436,000 after purchasing an additional 129 shares in the last quarter. Raymond James & Associates grew its stake in IDACORP by 20.9% in the third quarter. Raymond James & Associates now owns 385,346 shares of the energy company’s stock worth $36,088,000 after purchasing an additional 66,647 shares in the last quarter. Buffington Mohr McNeal grew its stake in IDACORP by 3.8% in the third quarter. Buffington Mohr McNeal now owns 5,722 shares of the energy company’s stock worth $536,000 after purchasing an additional 210 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in IDACORP by 20.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,978 shares of the energy company’s stock worth $747,000 after purchasing an additional 1,355 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its stake in IDACORP by 7.8% in the third quarter. IFM Investors Pty Ltd now owns 6,781 shares of the energy company’s stock worth $635,000 after purchasing an additional 492 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Stock Performance

Shares of IDA traded down $0.20 during mid-day trading on Thursday, reaching $95.77. 175,484 shares of the company’s stock traded hands, compared to its average volume of 373,938. The business’s 50-day moving average price is $91.21 and its 200-day moving average price is $93.98. The stock has a market capitalization of $4.85 billion, a P/E ratio of 18.68 and a beta of 0.55. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.33 and a current ratio of 1.58. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $112.64.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, February 15th. The energy company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. The firm had revenue of $411.95 million for the quarter, compared to analysts’ expectations of $429.84 million. During the same quarter in the previous year, the company earned $0.83 earnings per share. Equities analysts predict that IDACORP, Inc. will post 5.32 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be given a $0.83 dividend. The ex-dividend date is Friday, May 3rd. This represents a $3.32 annualized dividend and a yield of 3.47%. IDACORP’s dividend payout ratio (DPR) is 64.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IDA shares. Wells Fargo & Company decreased their price target on IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a research note on Friday, February 16th. Guggenheim cut shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a report on Monday, January 22nd. StockNews.com raised shares of IDACORP to a “sell” rating in a report on Friday, April 26th. TheStreet cut shares of IDACORP from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Finally, Morgan Stanley raised their target price on shares of IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $93.80.

About IDACORP

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.