IDACORP, Inc. (NYSE:IDA) Shares Sold by Thomas Story & Son LLC

Thomas Story & Son LLC lowered its stake in IDACORP, Inc. (NYSE:IDA) by 0.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 33,985 shares of the energy company’s stock after selling 270 shares during the quarter. IDACORP accounts for about 1.6% of Thomas Story & Son LLC’s portfolio, making the stock its 23rd biggest holding. Thomas Story & Son LLC owned 0.06% of IDACORP worth $3,714,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in IDACORP by 17.7% during the 3rd 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 last quarter. State Street Corp boosted its stake in IDACORP by 5.5% during the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock worth $170,789,000 after purchasing an additional 86,642 shares during the last quarter. Geode Capital Management LLC boosted its stake in IDACORP by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock worth $97,981,000 after purchasing an additional 36,063 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in IDACORP by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock worth $71,368,000 after purchasing an additional 35,651 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in IDACORP by 7.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 343,400 shares of the energy company’s stock worth $35,401,000 after purchasing an additional 22,485 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on IDA. Wells Fargo & Company lifted their price target on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Bank of America upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group reduced their price objective on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Finally, Morgan Stanley boosted their price objective on shares of IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, IDACORP currently has a consensus rating of “Hold” and an average target price of $116.20.

IDACORP Stock Performance

Shares of IDA opened at $110.71 on Monday. The stock has a 50 day moving average price of $110.55 and a 200 day moving average price of $107.19. 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 company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 2.28 and a beta of 0.65. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $120.42.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Wednesday, February 5th. IDACORP’s payout ratio is currently 63.82%.

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.