IDACORP, Inc. (NYSE:IDA) Shares Sold by First Washington CORP

First Washington CORP lowered its stake in IDACORP, Inc. (NYSE:IDA) by 21.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,378 shares of the energy company’s stock after selling 8,993 shares during the period. First Washington CORP’s holdings in IDACORP were worth $3,109,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rise Advisors LLC increased its stake in IDACORP by 65.8% in the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock valued at $34,000 after buying an additional 146 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of IDACORP during the second quarter worth about $35,000. Mather Group LLC. purchased a new position in IDACORP during the first quarter worth about $41,000. Kapitalo Investimentos Ltda acquired a new stake in IDACORP in the fourth quarter valued at about $54,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in IDACORP by 19.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock valued at $68,000 after purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

IDA has been the subject of a number of analyst reports. Bank of America assumed coverage on IDACORP in a research note on Thursday, September 12th. They set a “neutral” rating and a $110.00 target price for the company. Morgan Stanley upped their price target on shares of IDACORP from $94.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company raised their price objective on shares of IDACORP from $98.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $101.50.

IDACORP Price Performance

Shares of NYSE IDA opened at $103.43 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 0.87. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 20.76 and a beta of 0.60. The company’s 50-day moving average price is $100.08 and its 200 day moving average price is $95.44. IDACORP, Inc. has a 52 week low of $86.43 and a 52 week high of $105.24.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.34. The firm had revenue of $451.04 million during the quarter, compared to the consensus estimate of $420.56 million. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. During the same period in the previous year, the firm posted $1.35 EPS. As a group, research analysts forecast that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 5th were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Monday, August 5th. IDACORP’s payout ratio is currently 66.67%.

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.