IDACORP, Inc. (NYSE:IDA) Holdings Decreased by Tributary Capital Management LLC

Tributary Capital Management LLC lowered its stake in IDACORP, Inc. (NYSE:IDA) by 0.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 198,187 shares of the energy company’s stock after selling 643 shares during the quarter. IDACORP makes up approximately 1.6% of Tributary Capital Management LLC’s portfolio, making the stock its 27th largest holding. Tributary Capital Management LLC’s holdings in IDACORP were worth $20,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new position in shares of IDACORP during the 3rd quarter worth about $26,000. Rise Advisors LLC increased its stake in IDACORP by 65.8% during the second quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock valued at $34,000 after acquiring an additional 146 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in IDACORP during the second quarter valued at about $35,000. Eastern Bank bought a new position in IDACORP during the third quarter valued at about $52,000. Finally, 1620 Investment Advisors Inc. bought a new position in IDACORP during the second quarter valued at about $71,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped 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. Bank of America assumed coverage on IDACORP in a report on Thursday, September 12th. They issued a “neutral” rating and a $110.00 target price on the stock. Wells Fargo & Company boosted their target price on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group assumed coverage on IDACORP in a report on Friday, September 20th. They issued a “hold” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $104.83.

IDACORP Stock Performance

IDA opened at $103.65 on Monday. The business’s 50-day moving average price is $102.82 and its two-hundred day moving average price is $97.91. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $105.25. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 3.49 and a beta of 0.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.34. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. The firm had revenue of $451.04 million for the quarter, compared to the consensus estimate of $420.56 million. During the same quarter last year, the business posted $1.35 EPS. Equities analysts expect that IDACORP, Inc. will post 5.38 EPS for the current fiscal year.

IDACORP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be paid a $0.86 dividend. This is an increase from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 annualized dividend and a dividend yield of 3.32%. IDACORP’s dividend payout ratio (DPR) is currently 69.08%.

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.