Swiss National Bank Sells 600 Shares of IDACORP, Inc. (NYSE:IDA)

Swiss National Bank trimmed its stake in IDACORP, Inc. (NYSE:IDA) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,000 shares of the energy company’s stock after selling 600 shares during the period. Swiss National Bank owned about 0.19% of IDACORP worth $10,206,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new stake in shares of IDACORP in the 2nd quarter worth about $8,032,000. Tidal Investments LLC increased its holdings in shares of IDACORP by 120.6% during the first quarter. Tidal Investments LLC now owns 9,341 shares of the energy company’s stock worth $867,000 after buying an additional 5,106 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of IDACORP by 25.1% during the first quarter. Westwood Holdings Group Inc. now owns 256,446 shares of the energy company’s stock worth $23,821,000 after buying an additional 51,521 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of IDACORP in the 2nd quarter worth approximately $1,833,000. Finally, GSA Capital Partners LLP bought a new stake in IDACORP during the 3rd quarter worth approximately $3,228,000. 89.10% of the stock is currently owned by institutional investors.

IDACORP Trading Up 0.1 %

IDA opened at $118.91 on Monday. The firm has a 50 day simple moving average of $106.71 and a 200 day simple moving average of $100.53. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $120.02. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 2.64 and a beta of 0.60. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The business had revenue of $528.53 million for the quarter, compared to the consensus estimate of $524.39 million. During the same quarter in the previous year, the firm posted $2.07 EPS. On average, sell-side analysts anticipate that IDACORP, Inc. will post 5.42 earnings per share for the current year.

IDACORP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be paid a $0.86 dividend. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $3.44 annualized dividend and a yield of 2.89%. IDACORP’s dividend payout ratio is presently 63.82%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Jefferies Financial Group initiated coverage on IDACORP in a research report on Friday, September 20th. They issued a “hold” rating and a $110.00 price objective for the company. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. Wells Fargo & Company raised their price objective on shares of 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 upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and upped their target price for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. Finally, Morgan Stanley raised their price target on shares of IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $108.83.

IDACORP 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.