Coldstream Capital Management Inc. Has $354,000 Stock Position in IDACORP, Inc. (NYSE:IDA)

Coldstream Capital Management Inc. decreased its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 18.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,437 shares of the energy company’s stock after selling 803 shares during the quarter. Coldstream Capital Management Inc.’s holdings in IDACORP were worth $354,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in IDA. M&T Bank Corp raised its holdings in IDACORP by 0.8% during the third quarter. M&T Bank Corp now owns 10,992 shares of the energy company’s stock worth $1,133,000 after acquiring an additional 92 shares in the last quarter. Trust Point Inc. increased its position in shares of IDACORP by 1.4% during the 3rd quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock worth $760,000 after purchasing an additional 101 shares during the last quarter. Blue Trust Inc. raised its stake in shares of IDACORP by 7.5% during the 3rd quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock worth $157,000 after purchasing an additional 106 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of IDACORP by 1.7% in the 2nd quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock valued at $597,000 after buying an additional 107 shares during the last quarter. Finally, Pitcairn Co. grew its stake in shares of IDACORP by 2.3% in the third quarter. Pitcairn Co. now owns 4,801 shares of the energy company’s stock valued at $495,000 after buying an additional 107 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of NYSE IDA opened at $113.06 on Monday. The firm has a market cap of $6.02 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 2.51 and a beta of 0.64. The business’s 50 day moving average is $110.64 and its 200-day moving average is $102.55. 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, Inc. has a 1-year low of $86.43 and a 1-year high of $120.42.

IDACORP (NYSE:IDA) last posted 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 firm had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. During the same period in the prior year, the business posted $2.07 EPS. Equities research analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current year.

IDACORP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was 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 dividend yield of 3.04%. IDACORP’s dividend payout ratio (DPR) is currently 63.82%.

Wall Street Analyst Weigh In

IDA has been the topic of several analyst reports. Jefferies Financial Group began coverage on shares of IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 price target on the stock. StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Bank of America raised 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 report on Tuesday, November 5th. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $102.00 to $116.00 in a research report on Friday, November 1st. Finally, 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $111.00.

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.