IDACORP, Inc. (NYSE:IDA) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in IDACORP, Inc. (NYSE:IDA) by 14.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,236 shares of the energy company’s stock after selling 20,607 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in IDACORP were worth $12,498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IDA. MetLife Investment Management LLC lifted its stake in shares of IDACORP by 2.9% in the 3rd quarter. MetLife Investment Management LLC now owns 27,476 shares of the energy company’s stock valued at $2,833,000 after purchasing an additional 784 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of IDACORP in the 3rd quarter valued at $148,000. Glenmede Trust Co. NA lifted its stake in shares of IDACORP by 24.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,023 shares of the energy company’s stock valued at $930,000 after purchasing an additional 1,799 shares during the period. Townsquare Capital LLC acquired a new position in shares of IDACORP in the 3rd quarter valued at $330,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of IDACORP by 545.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,974 shares of the energy company’s stock valued at $1,544,000 after purchasing an additional 12,653 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

IDA has been the subject of several analyst reports. Bank of America upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and boosted their target price for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. Jefferies Financial Group initiated coverage on shares of IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 price target on the stock. Morgan Stanley lifted their price target on shares of IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.83.

IDACORP Stock Down 0.8 %

NYSE IDA opened at $115.12 on Friday. The business has a fifty day moving average price of $109.58 and a 200 day moving average price of $101.86. IDACORP, Inc. has a one year low of $86.43 and a one year high of $120.42. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The company has a market cap of $6.13 billion, a P/E ratio of 21.36, a P/E/G ratio of 2.58 and a beta of 0.64.

IDACORP (NYSE:IDA) last posted its quarterly earnings data 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 firm had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. During the same period in the prior year, the company posted $2.07 earnings per share. Research analysts anticipate that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.86 per share. The ex-dividend date was Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.99%. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s payout ratio is 63.82%.

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.