Thomas Story & Son LLC Cuts Stock Position in IDACORP, Inc. (NYSE:IDA)

Thomas Story & Son LLC decreased its holdings in IDACORP, Inc. (NYSE:IDA) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,985 shares of the energy company’s stock after selling 270 shares during the quarter. IDACORP comprises approximately 1.6% of Thomas Story & Son LLC’s portfolio, making the stock its 23rd biggest holding. Thomas Story & Son LLC’s holdings in IDACORP were worth $3,714,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in shares of IDACORP in the third quarter valued at $25,000. V Square Quantitative Management LLC purchased a new position in shares of IDACORP in the third quarter valued at $26,000. MassMutual Private Wealth & Trust FSB increased its position in shares of IDACORP by 98.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after buying an additional 120 shares in the last quarter. Versant Capital Management Inc increased its position in shares of IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after buying an additional 301 shares in the last quarter. Finally, Independence Bank of Kentucky increased its position in shares of IDACORP by 123.6% in the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock valued at $44,000 after buying an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Down 0.5 %

Shares of NYSE:IDA opened at $110.71 on Monday. The stock’s 50-day moving average price is $110.55 and its two-hundred day moving average price is $107.19. 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 12-month low of $86.43 and a 12-month high of $120.42. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.28 and a beta of 0.65.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Wednesday, February 5th. IDACORP’s payout ratio is 63.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IDA. Mizuho upgraded 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 research report on Friday, November 1st. Wells Fargo & Company raised their price target on IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and increased their price objective for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. Jefferies Financial Group decreased their price objective on IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Finally, Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $116.20.

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.