IDACORP, Inc. $IDA Holdings Lessened by Boston Trust Walden Corp

Boston Trust Walden Corp cut its stake in IDACORP, Inc. (NYSE:IDA) by 17.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 386,904 shares of the energy company’s stock after selling 80,461 shares during the period. Boston Trust Walden Corp’s holdings in IDACORP were worth $50,580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Osterweis Capital Management Inc. purchased a new stake in shares of IDACORP during the second quarter worth approximately $25,000. Western Wealth Management LLC purchased a new position in shares of IDACORP in the 1st quarter valued at about $29,000. Trust Co. of Vermont purchased a new position in shares of IDACORP in the 2nd quarter valued at about $30,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of IDACORP during the 2nd quarter worth about $33,000. Finally, Summit Securities Group LLC purchased a new stake in IDACORP during the first quarter worth approximately $37,000. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Performance

IDACORP stock opened at $147.32 on Thursday. The firm has a market capitalization of $8.68 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 2.50 and a beta of 0.47. The stock’s 50 day moving average price is $135.99 and its 200 day moving average price is $140.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.94 and a current ratio of 1.18. IDACORP, Inc. has a one year low of $124.12 and a one year high of $154.91.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, October 29th. The energy company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.22. The firm had revenue of $608.04 million during the quarter, compared to analyst estimates of $603.00 million. IDACORP had a return on equity of 9.92% and a net margin of 19.84%. During the same quarter last year, the firm earned $2.26 EPS. As a group, sell-side analysts expect that IDACORP, Inc. will post 6.41 EPS for the current fiscal year.

IDACORP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 5th will be given a $0.90 dividend. The ex-dividend date is Thursday, November 5th. This represents a $3.60 annualized dividend and a yield of 2.4%. This is a boost from IDACORP’s previous quarterly dividend of $0.88. IDACORP’s payout ratio is 54.07%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IDA. Morgan Stanley raised their price objective on IDACORP from $143.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. Wall Street Zen downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. BTIG Research restated a “buy” rating and issued a $155.00 price target on shares of IDACORP in a research note on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a report on Friday, October 30th. Finally, Wells Fargo & Company upped their target price on IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $152.29.

IDACORP Company Profile

IDACORP, Inc is a holding company whose principal subsidiary, Idaho Power Company, is a regulated electric utility. Idaho Power generates, purchases, transmits, distributes and sells electricity to residential, commercial, industrial and agricultural customers.

Idaho Power serves customers across southern Idaho and eastern Oregon. Its power supply includes a substantial hydroelectric system, along with energy from thermal, wind, solar and other resources. The company also operates and maintains the transmission and distribution infrastructure needed to deliver electricity throughout its service area.

Idaho Power traces its history to 1916, when it was established to provide electric service in Idaho.