River Road Asset Management LLC Sells 23,051 Shares of IDACORP, Inc. (NYSE:IDA)

River Road Asset Management LLC cut its holdings in IDACORP, Inc. (NYSE:IDA) by 13.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,247 shares of the energy company’s stock after selling 23,051 shares during the quarter. River Road Asset Management LLC owned approximately 0.27% of IDACORP worth $15,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of IDACORP by 17.7% in the third quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock worth $246,367,000 after purchasing an additional 359,553 shares during the last quarter. State Street Corp grew its stake in shares of IDACORP by 5.5% in the third quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock worth $170,789,000 after purchasing an additional 86,642 shares during the last quarter. Reaves W H & Co. Inc. grew its stake in shares of IDACORP by 75.4% in the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock worth $109,103,000 after purchasing an additional 429,276 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of IDACORP by 3.9% in the third quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock worth $97,981,000 after purchasing an additional 36,063 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of IDACORP by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,579 shares of the energy company’s stock worth $76,450,000 after purchasing an additional 7,286 shares during the last quarter. 89.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on IDA. Morgan Stanley raised their price objective on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Bank of America raised their price objective on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $118.20.

IDACORP Price Performance

IDA stock opened at $115.00 on Tuesday. The firm has a 50 day moving average price of $111.01 and a 200-day moving average price of $109.02. IDACORP, Inc. has a 52-week low of $88.70 and a 52-week high of $120.42. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.32 and a beta of 0.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The firm had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. Equities research analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were issued a dividend of $0.86 per share. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.99%. IDACORP’s payout ratio is 62.77%.

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.