Leeward Investments LLC MA Decreases Position in IDACORP, Inc. (NYSE:IDA)

Leeward Investments LLC MA reduced its stake in shares of IDACORP, Inc. (NYSE:IDA) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 136,478 shares of the energy company’s stock after selling 462 shares during the period. Leeward Investments LLC MA’s holdings in IDACORP were worth $14,070,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of IDACORP by 13.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,210 shares of the energy company’s stock valued at $298,000 after purchasing an additional 390 shares during the period. BNP Paribas Financial Markets increased its stake in IDACORP by 42.4% during the 1st quarter. BNP Paribas Financial Markets now owns 11,635 shares of the energy company’s stock worth $1,081,000 after buying an additional 3,464 shares during the period. Janney Montgomery Scott LLC lifted its holdings in IDACORP by 8.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,542 shares of the energy company’s stock worth $1,629,000 after buying an additional 1,405 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in IDACORP by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 44,189 shares of the energy company’s stock valued at $4,105,000 after buying an additional 465 shares during the last quarter. Finally, Duality Advisers LP acquired a new stake in shares of IDACORP during the first quarter valued at about $837,000. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Price Performance

Shares of NYSE IDA opened at $111.44 on Thursday. The business has a 50 day simple moving average of $103.40 and a 200-day simple moving average of $98.68. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $112.03. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 3.59 and a beta of 0.60. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last issued its earnings results 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). IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The business had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. During the same period last year, the company posted $2.07 earnings per share. As a group, equities research analysts expect that IDACORP, Inc. will post 5.38 earnings per share for the current year.

IDACORP Increases Dividend

The business also recently announced 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. This represents a $3.44 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, November 5th. IDACORP’s payout ratio is presently 61.60%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on IDA shares. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $113.00 to $117.00 in a research note on Tuesday. Morgan Stanley upped their target price on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company increased their target price on IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. 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. Finally, Mizuho raised shares of IDACORP from a “neutral” rating to an “outperform” rating and upped their price target for the company from $102.00 to $116.00 in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $108.83.

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.