Orion Portfolio Solutions LLC Sells 209 Shares of IDACORP, Inc. (NYSE:IDA)

Orion Portfolio Solutions LLC reduced its position in shares of IDACORP, Inc. (NYSE:IDA) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,963 shares of the energy company’s stock after selling 209 shares during the period. Orion Portfolio Solutions LLC’s holdings in IDACORP were worth $1,854,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in IDA. Reaves W H & Co. Inc. boosted its position in IDACORP by 75.4% during the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock worth $109,103,000 after buying an additional 429,276 shares during the period. Wellington Management Group LLP lifted its holdings in shares of IDACORP by 17.7% during the third quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock worth $246,367,000 after purchasing an additional 359,553 shares during the period. Raymond James Financial Inc. bought a new stake in shares of IDACORP in the fourth quarter worth $37,104,000. State Street Corp increased its holdings in IDACORP by 5.5% in the third quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock valued at $170,789,000 after purchasing an additional 86,642 shares during the period. Finally, Vanguard Group Inc. raised its position in IDACORP by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company’s stock worth $660,786,000 after purchasing an additional 77,230 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Up 1.6 %

Shares of NYSE IDA opened at $119.27 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The firm has a market cap of $6.44 billion, a PE ratio of 21.76, a P/E/G ratio of 2.32 and a beta of 0.59. The company’s fifty day simple moving average is $113.26 and its 200 day simple moving average is $110.49. IDACORP, Inc. has a 12-month low of $88.70 and a 12-month high of $120.42.

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

IDACORP Announces Dividend

The company also recently announced 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 2.88%. The ex-dividend date was Wednesday, February 5th. IDACORP’s payout ratio is 62.77%.

Analyst Upgrades and Downgrades

A number of research firms have commented on IDA. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group raised shares of IDACORP from a “hold” rating to a “buy” rating in a research report on Wednesday. UBS Group boosted their price target on shares of IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Bank of America increased their price objective on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Finally, Morgan Stanley boosted their target price on shares of IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $120.50.

IDACORP Company 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.