Victory Capital Management Inc. Trims Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Victory Capital Management Inc. lowered its holdings in IDACORP, Inc. (NYSE:IDA) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 1,427,605 shares of the energy company’s stock after selling 20,032 shares during the period. Victory Capital Management Inc.’s holdings in IDACORP were worth $156,009,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new position in IDACORP in the third quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB boosted its holdings in IDACORP by 98.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Versant Capital Management Inc boosted its holdings in IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after purchasing an additional 301 shares during the last quarter. Independence Bank of Kentucky boosted its holdings in IDACORP by 123.6% in the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock valued at $44,000 after purchasing an additional 225 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in IDACORP in the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Down 1.1 %

Shares of IDACORP stock opened at $113.78 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The business’s 50 day simple moving average is $110.72 and its 200-day simple moving average is $108.71. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 2.32 and a beta of 0.65. IDACORP, Inc. has a twelve month low of $87.51 and a twelve month high of $120.42.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The business had revenue of $398.13 million for the quarter, compared to analysts’ expectations of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. Equities research analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Wednesday, February 5th. IDACORP’s payout ratio is 62.77%.

Analyst Ratings Changes

A number of brokerages recently commented on IDA. Morgan Stanley increased their price target on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Bank of America upped their price objective on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Monday. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group cut their price objective on IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $118.20.

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.