Congress Asset Management Co. Sells 187 Shares of IDACORP, Inc. (NYSE:IDA)

Congress Asset Management Co. lowered its holdings in IDACORP, Inc. (NYSE:IDA) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 18,975 shares of the energy company’s stock after selling 187 shares during the quarter. Congress Asset Management Co.’s holdings in IDACORP were worth $1,956,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. New York State Teachers Retirement System raised its stake in IDACORP by 6.1% in the third quarter. New York State Teachers Retirement System now owns 82,016 shares of the energy company’s stock valued at $8,455,000 after purchasing an additional 4,723 shares in the last quarter. Vanguard Capital Wealth Advisors purchased a new stake in shares of IDACORP during the 3rd quarter valued at $215,000. State of Alaska Department of Revenue raised its position in shares of IDACORP by 2.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 36,001 shares of the energy company’s stock valued at $3,711,000 after buying an additional 710 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of IDACORP by 7.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the energy company’s stock worth $532,000 after acquiring an additional 372 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in IDACORP by 3.5% in the third quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the energy company’s stock worth $1,526,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Trading Up 2.3 %

Shares of IDA opened at $105.86 on Friday. IDACORP, Inc. has a 1-year low of $86.43 and a 1-year high of $109.47. The firm’s 50-day moving average price is $102.92 and its 200-day moving average price is $98.25. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 3.43 and a beta of 0.60.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). The company had revenue of $528.53 million for the quarter, compared to the consensus estimate of $524.39 million. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. During the same period last year, the business earned $2.07 EPS. Sell-side analysts anticipate that IDACORP, Inc. will post 5.39 EPS for the current year.

IDACORP Increases Dividend

The business also recently disclosed 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 is an increase from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.25%. IDACORP’s dividend payout ratio is 62.17%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on IDA shares. Morgan Stanley lifted their price target on IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and increased their price target for the company from $102.00 to $116.00 in a research report on Friday. StockNews.com upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a report on Tuesday. Bank of America assumed coverage on shares of IDACORP in a research report on Thursday, September 12th. They issued a “neutral” rating and a $110.00 target price on the stock. Finally, Jefferies Financial Group began coverage on shares of IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 price target for the company. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $107.67.

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.