John G Ullman & Associates Inc. Sells 350 Shares of IDACORP, Inc. (NYSE:IDA)

John G Ullman & Associates Inc. decreased its stake in shares of IDACORP, Inc. (NYSE:IDA) by 0.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,343 shares of the energy company’s stock after selling 350 shares during the quarter. John G Ullman & Associates Inc.’s holdings in IDACORP were worth $4,159,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in shares of IDACORP during the third quarter valued at approximately $26,000. Rise Advisors LLC raised its position in IDACORP by 65.8% during the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock valued at $34,000 after purchasing an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of IDACORP in the 2nd quarter worth $35,000. Avior Wealth Management LLC grew its position in shares of IDACORP by 35.9% during the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock worth $46,000 after buying an additional 117 shares in the last quarter. Finally, Eastern Bank bought a new position in shares of IDACORP during the 3rd quarter worth $52,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Wells Fargo & Company boosted their price target on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Jefferies Financial Group started coverage on IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 price objective on the stock. Finally, Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and raised their price target for the company from $102.00 to $116.00 in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $108.83.

IDACORP Stock Performance

IDA opened at $117.96 on Thursday. The firm’s 50-day moving average price is $106.09 and its 200-day moving average price is $100.19. The company has a market cap of $6.28 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 2.61 and a beta of 0.60. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $119.65.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). The company had revenue of $528.53 million during the quarter, compared to analysts’ expectations of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same period in the prior year, the business posted $2.07 EPS. As a group, equities analysts anticipate that IDACORP, Inc. will post 5.42 EPS for the current fiscal year.

IDACORP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.92%. The ex-dividend date is Tuesday, November 5th. This is an increase from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s payout ratio is presently 63.82%.

IDACORP Company 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.