IDACORP, Inc. (NYSE:IDA) Position Decreased by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership reduced its holdings in IDACORP, Inc. (NYSE:IDA) by 16.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of IDACORP in the third quarter valued at $25,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Versant Capital Management Inc raised its position in shares of IDACORP by 2,150.0% during the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after purchasing an additional 301 shares during the period. Independence Bank of Kentucky lifted its holdings in shares of IDACORP by 123.6% during the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock valued at $44,000 after purchasing an additional 225 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of IDACORP in the 4th quarter valued at $45,000. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Price Performance

IDA opened at $115.08 on Friday. The stock has a fifty day moving average price of $112.80 and a 200 day moving average price of $110.19. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a 1 year low of $88.70 and a 1 year high of $120.42. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA) last announced its quarterly 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 business had revenue of $398.13 million during the quarter, compared to analysts’ expectations of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. Analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were paid 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 payout ratio is presently 62.77%.

Analysts Set New Price Targets

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

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.