Inspire Investing LLC Trims Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Inspire Investing LLC lowered its position in shares of IDACORP, Inc. (NYSE:IDA) by 8.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 3,671 shares of the energy company’s stock after selling 332 shares during the quarter. Inspire Investing LLC’s holdings in IDACORP were worth $401,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in IDA. M&T Bank Corp lifted its holdings in shares of IDACORP by 0.8% during the third quarter. M&T Bank Corp now owns 10,992 shares of the energy company’s stock worth $1,133,000 after purchasing an additional 92 shares during the period. Trust Point Inc. lifted its stake in IDACORP by 1.4% during the 3rd quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock valued at $760,000 after acquiring an additional 101 shares during the period. Blue Trust Inc. lifted its stake in IDACORP by 7.5% during the 3rd quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock valued at $157,000 after acquiring an additional 106 shares during the period. Pitcairn Co. boosted its holdings in shares of IDACORP by 2.3% in the 3rd quarter. Pitcairn Co. now owns 4,801 shares of the energy company’s stock valued at $495,000 after acquiring an additional 107 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in shares of IDACORP by 35.9% in the third quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock worth $46,000 after acquiring an additional 117 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of IDA stock opened at $109.01 on Monday. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $120.42. The business’s 50 day moving average is $112.23 and its two-hundred day moving average is $106.12. The company has a market capitalization of $5.81 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.21 and a beta of 0.65.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). The company had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same period in the prior year, the business posted $2.07 EPS. Analysts expect that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be given a dividend of $0.86 per share. The ex-dividend date is Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 3.16%. IDACORP’s dividend payout ratio (DPR) is presently 63.82%.

Analyst Ratings Changes

Several research firms have commented on IDA. Morgan Stanley upped their price target on shares of IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $102.00 to $116.00 in a research note on Friday, November 1st. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and lifted their price target for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. Wells Fargo & Company upped their price objective on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $114.60.

About IDACORP

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.