Thrivent Financial for Lutherans Lowers Stake in IDACORP, Inc. (NYSE:IDA)

Thrivent Financial for Lutherans trimmed its holdings in IDACORP, Inc. (NYSE:IDA) by 3.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 12,249 shares of the energy company’s stock after selling 435 shares during the period. Thrivent Financial for Lutherans’ holdings in IDACORP were worth $1,141,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Rise Advisors LLC raised its stake in IDACORP by 65.8% during the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock valued at $34,000 after acquiring an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of IDACORP in the second quarter valued at approximately $35,000. Mather Group LLC. purchased a new stake in shares of IDACORP during the first quarter worth approximately $41,000. Kapitalo Investimentos Ltda acquired a new stake in shares of IDACORP during the fourth quarter worth $54,000. Finally, 1620 Investment Advisors Inc. purchased a new position in IDACORP in the 2nd quarter valued at $71,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Down 0.2 %

IDA opened at $101.57 on Friday. IDACORP, Inc. has a one year low of $86.43 and a one year high of $105.24. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 3.46 and a beta of 0.60. The business’s fifty day moving average is $102.25 and its two-hundred day moving average is $96.64. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 1.55.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.34. The business had revenue of $451.04 million for the quarter, compared to the consensus estimate of $420.56 million. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. During the same period in the prior year, the business earned $1.35 earnings per share. Analysts anticipate that IDACORP, Inc. will post 5.39 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 5th were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Monday, August 5th. IDACORP’s dividend payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

IDA has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group began coverage on IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 target price on the stock. Wells Fargo & Company lifted their price target on IDACORP from $98.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Bank of America started coverage on IDACORP in a research report on Thursday, September 12th. They issued a “neutral” rating and a $110.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $103.57.

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.