Oak Thistle LLC trimmed its holdings in IDACORP, Inc. (NYSE:IDA – Free Report) by 40.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,378 shares of the energy company’s stock after selling 5,679 shares during the quarter. Oak Thistle LLC’s holdings in IDACORP were worth $916,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of IDA. Eastern Bank grew its position in IDACORP by 211.8% in the 4th quarter. Eastern Bank now owns 1,559 shares of the energy company’s stock valued at $170,000 after acquiring an additional 1,059 shares during the last quarter. Fulton Bank N.A. boosted its stake in shares of IDACORP by 16.5% during the fourth quarter. Fulton Bank N.A. now owns 4,049 shares of the energy company’s stock valued at $442,000 after purchasing an additional 573 shares during the period. Diversified Trust Co bought a new position in shares of IDACORP in the fourth quarter worth about $704,000. Fortem Financial Group LLC increased its stake in IDACORP by 6.1% in the 4th quarter. Fortem Financial Group LLC now owns 7,576 shares of the energy company’s stock worth $828,000 after buying an additional 433 shares during the period. Finally, GAMMA Investing LLC boosted its position in IDACORP by 229.7% in the 4th quarter. GAMMA Investing LLC now owns 610 shares of the energy company’s stock valued at $67,000 after buying an additional 425 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have recently weighed in on IDA shares. Wells Fargo & Company lifted their price target on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their target price on 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 IDACORP from a “neutral” rating to a “buy” rating and increased their price target for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Mizuho raised shares of IDACORP from a “neutral” rating to an “outperform” rating and raised their target price for the company from $102.00 to $116.00 in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $111.00.
IDACORP Price Performance
Shares of IDA stock opened at $107.60 on Thursday. The stock’s 50-day moving average is $113.18 and its 200 day moving average is $105.16. IDACORP, Inc. has a 1-year low of $86.43 and a 1-year high of $120.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The company has a market cap of $5.73 billion, a P/E ratio of 19.96, a PEG ratio of 2.51 and a beta of 0.65.
IDACORP (NYSE:IDA – Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). The firm had revenue of $528.53 million during the quarter, compared to the consensus estimate of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same quarter in the prior year, the business posted $2.07 earnings per share. Research analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.
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.
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