IDACORP, Inc. (NYSE:IDA) Shares Sold by Buffington Mohr McNeal

Buffington Mohr McNeal trimmed its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 9.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,972 shares of the energy company’s stock after selling 511 shares during the period. Buffington Mohr McNeal’s holdings in IDACORP were worth $513,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rise Advisors LLC raised its position in IDACORP by 65.8% in the second quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock worth $34,000 after acquiring an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of IDACORP during the 2nd quarter worth $35,000. Mather Group LLC. purchased a new position in shares of IDACORP in the 1st quarter valued at about $41,000. Kapitalo Investimentos Ltda acquired a new stake in shares of IDACORP in the fourth quarter valued at about $54,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in IDACORP during the second quarter worth about $71,000. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Performance

IDACORP stock opened at $103.83 on Friday. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $105.24. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 3.38 and a beta of 0.60. The stock has a fifty day moving average of $102.53 and a two-hundred day moving average of $97.33. 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 posted its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.34. The firm had revenue of $451.04 million during the quarter, compared to analysts’ expectations of $420.56 million. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. During the same quarter last year, the business posted $1.35 EPS. On average, analysts anticipate that IDACORP, Inc. will post 5.39 EPS for the current fiscal year.

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 3.31%. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s dividend payout ratio (DPR) is 66.67%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IDA. Wells Fargo & Company lifted their price target on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research report on Wednesday. Morgan Stanley raised their price objective on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group assumed 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. Finally, Bank of America began coverage on IDACORP in a research report on Thursday, September 12th. They issued a “neutral” rating and a $110.00 price target for the company. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, IDACORP has an average rating of “Hold” and an average target price of $104.00.

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.