Nuance Investments LLC Sells 408,817 Shares of IDACORP, Inc. (NYSE:IDA)

Nuance Investments LLC reduced its position in IDACORP, Inc. (NYSE:IDA) by 51.5% during the fourth quarter, HoldingsChannel reports. The fund owned 384,317 shares of the energy company’s stock after selling 408,817 shares during the quarter. IDACORP comprises 1.7% of Nuance Investments LLC’s holdings, making the stock its 20th biggest position. Nuance Investments LLC’s holdings in IDACORP were worth $41,998,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Diversified Trust Co purchased a new stake in IDACORP during the 4th quarter worth about $704,000. Algert Global LLC lifted its holdings in shares of IDACORP by 42.5% in the third quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock worth $3,648,000 after buying an additional 10,550 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of IDACORP by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock valued at $71,368,000 after acquiring an additional 35,651 shares during the period. Assenagon Asset Management S.A. purchased a new position in IDACORP during the fourth quarter valued at approximately $913,000. Finally, JPMorgan Chase & Co. increased its holdings in IDACORP by 7.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 343,400 shares of the energy company’s stock worth $35,401,000 after acquiring an additional 22,485 shares during the period. Institutional investors own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

IDACORP Trading Down 1.7 %

Shares of IDA opened at $112.23 on Wednesday. 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, Inc. has a fifty-two week low of $88.70 and a fifty-two week high of $120.42. The firm has a 50 day moving average price of $112.50 and a 200-day moving average price of $110.01. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA) last posted its quarterly 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. The business had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. As a group, equities research analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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 dividend on an annualized basis and a yield of 3.07%. IDACORP’s dividend payout ratio (DPR) is currently 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.