Leeward Investments LLC MA Decreases Holdings in IDACORP, Inc. (NYSE:IDA)

Leeward Investments LLC MA cut its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 6.9% in the 4th quarter, HoldingsChannel reports. The firm owned 127,023 shares of the energy company’s stock after selling 9,455 shares during the quarter. Leeward Investments LLC MA’s holdings in IDACORP were worth $13,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its position in shares of IDACORP by 98.4% during 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 last quarter. Legacy Investment Solutions LLC purchased a new stake in IDACORP in the 3rd quarter worth about $25,000. Versant Capital Management Inc increased its holdings in IDACORP by 2,150.0% in the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after acquiring an additional 301 shares during the last quarter. Independence Bank of Kentucky increased its holdings in IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after acquiring an additional 225 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings in IDACORP by 35.9% in the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock worth $46,000 after acquiring an additional 117 shares during the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Stock Up 1.1 %

Shares of NYSE IDA opened at $113.98 on Friday. IDACORP, Inc. has a 52 week low of $86.47 and a 52 week high of $120.42. The business has a 50-day simple moving average of $109.90 and a two-hundred day simple moving average of $107.95. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The company has a market cap of $6.07 billion, a P/E ratio of 20.80, a P/E/G ratio of 2.32 and a beta of 0.65.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The business had revenue of $398.13 million during the quarter, compared to the consensus estimate of $403.21 million. Research analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Wednesday, February 5th. IDACORP’s payout ratio is 62.77%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group decreased their price objective on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Morgan Stanley lifted their price objective on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th. Finally, Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $102.00 to $116.00 in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $116.20.

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.