Buckley Wealth Management LLC Cuts Stake in IDACORP, Inc. (NYSE:IDA)

Buckley Wealth Management LLC lessened its holdings in IDACORP, Inc. (NYSE:IDA) by 5.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,590 shares of the energy company’s stock after selling 2,200 shares during the quarter. IDACORP accounts for 1.1% of Buckley Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position. Buckley Wealth Management LLC owned 0.07% of IDACORP worth $3,669,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in IDACORP in the third quarter valued at approximately $26,000. Rise Advisors LLC raised its holdings 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 buying an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in IDACORP during the 2nd quarter valued at $35,000. Mather Group LLC. bought a new stake in IDACORP in the 1st quarter worth $41,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of IDACORP in the second quarter valued at about $71,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Up 0.9 %

Shares of IDACORP stock traded up $0.94 during midday trading on Friday, hitting $104.77. The company had a trading volume of 190,831 shares, compared to its average volume of 341,043. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $105.24. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 1.55. The stock has a market capitalization of $5.58 billion, a P/E ratio of 21.04, a P/E/G ratio of 3.38 and a beta of 0.60. The company has a 50 day moving average of $102.59 and a 200 day moving average of $97.45.

IDACORP (NYSE:IDA) last released its earnings results 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 for 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 period in the prior year, the firm posted $1.35 earnings per share. On average, equities analysts predict that IDACORP, Inc. will post 5.39 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be issued a $0.86 dividend. The ex-dividend date is Tuesday, November 5th. This is a boost from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 annualized dividend and a yield of 3.28%. IDACORP’s payout ratio is 69.08%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IDA shares. Wells Fargo & Company raised their target price on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Morgan Stanley boosted their price objective on shares of IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group initiated coverage on shares of IDACORP in a research report on Friday, September 20th. They issued a “hold” rating and a $110.00 target price for the company. Finally, Bank of America began coverage on shares of IDACORP in a research report on Thursday, September 12th. They set a “neutral” rating and a $110.00 price target on the stock. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.