IDACORP, Inc. (NYSE:IDA) Shares Sold by First Washington CORP

First Washington CORP reduced its position in IDACORP, Inc. (NYSE:IDA) by 21.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,378 shares of the energy company’s stock after selling 8,993 shares during the quarter. First Washington CORP owned approximately 0.06% of IDACORP worth $3,109,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IDA. Pitcairn Co. grew its holdings in shares of IDACORP by 2.4% in the first quarter. Pitcairn Co. now owns 4,332 shares of the energy company’s stock valued at $402,000 after purchasing an additional 103 shares in the last quarter. Raymond James Trust N.A. grew its stake in shares of IDACORP by 1.7% in the second quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock worth $597,000 after acquiring an additional 107 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of IDACORP by 19.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock valued at $68,000 after acquiring an additional 112 shares in the last quarter. Fortem Financial Group LLC boosted its holdings in IDACORP by 1.2% in the second quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company’s stock valued at $866,000 after purchasing an additional 112 shares during the period. Finally, Rise Advisors LLC grew its stake in IDACORP by 65.8% during the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock worth $34,000 after purchasing an additional 146 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Trading Down 1.0 %

Shares of IDACORP stock opened at $103.43 on Wednesday. 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 company has a fifty day simple moving average of $100.08 and a 200-day simple moving average of $95.44. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 20.76 and a beta of 0.60. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $105.24.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping 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 company had revenue of $451.04 million for the quarter, compared to analyst estimates of $420.56 million. During the same quarter last year, the company posted $1.35 earnings per share. On average, equities analysts forecast that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 5th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Monday, August 5th. IDACORP’s dividend payout ratio is currently 66.67%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IDA shares. Bank of America initiated coverage on IDACORP in a research note on Thursday, September 12th. They issued a “neutral” rating and a $110.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of IDACORP from $98.00 to $106.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley raised their price objective on shares of IDACORP from $94.00 to $102.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, IDACORP has a consensus rating of “Hold” and an average target price of $101.50.

About IDACORP

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.