WINTON GROUP Ltd Decreases Stock Holdings in IDACORP, Inc. (NYSE:IDA)

WINTON GROUP Ltd reduced its position in shares of IDACORP, Inc. (NYSE:IDA) by 17.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,439 shares of the energy company’s stock after selling 501 shares during the period. WINTON GROUP Ltd’s holdings in IDACORP were worth $267,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Reaves W H & Co. Inc. raised its position in IDACORP by 75.4% during the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock valued at $109,103,000 after purchasing an additional 429,276 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of IDACORP by 17.7% during the third quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock valued at $246,367,000 after acquiring an additional 359,553 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in IDACORP in the fourth quarter worth $37,104,000. State Street Corp boosted its holdings in IDACORP by 5.5% in the third quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock valued at $170,789,000 after acquiring an additional 86,642 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in IDACORP by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company’s stock valued at $660,786,000 after purchasing an additional 77,230 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Stock Performance

IDACORP stock opened at $115.08 on Monday. IDACORP, Inc. has a twelve month low of $88.70 and a twelve month high of $120.42. 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 capitalization of $6.21 billion, a P/E ratio of 21.00, a PEG ratio of 2.32 and a beta of 0.59. The stock’s 50 day moving average is $112.80 and its 200 day moving average is $110.24.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The firm had revenue of $398.13 million for 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%. On average, equities research analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The company 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. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.99%. IDACORP’s dividend payout ratio is presently 62.77%.

Analyst Ratings Changes

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

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.