First American Trust FSB Trims Stock Holdings in IDACORP, Inc. (NYSE:IDA)

First American Trust FSB reduced its stake in IDACORP, Inc. (NYSE:IDA) by 39.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,405 shares of the energy company’s stock after selling 2,239 shares during the quarter. First American Trust FSB’s holdings in IDACORP were worth $335,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chilton Capital Management LLC purchased a new stake in shares of IDACORP in the first quarter valued at $25,000. Cohen & Steers Inc. lifted its position in shares of IDACORP by 33.8% in the first quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock valued at $46,000 after acquiring an additional 101 shares in the last quarter. State of Wyoming lifted its position in IDACORP by 34.4% during the second quarter. State of Wyoming now owns 426 shares of the energy company’s stock worth $44,000 after buying an additional 109 shares during the period. Headlands Technologies LLC purchased a new position in IDACORP during the third quarter worth about $40,000. Finally, Lazard Asset Management LLC purchased a new position in IDACORP during the fourth quarter worth about $50,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Guggenheim downgraded IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research report on Monday, January 22nd. Mizuho dropped their price target on IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a research note on Tuesday, March 5th. Morgan Stanley increased their target price on IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. TheStreet lowered IDACORP from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Finally, Wells Fargo & Company lowered their target price on IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $93.80.

IDACORP Stock Down 1.2 %

IDA traded down $1.11 on Tuesday, reaching $89.13. The company’s stock had a trading volume of 35,648 shares, compared to its average volume of 386,206. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.33. The business’s 50 day moving average is $90.08 and its 200 day moving average is $94.07. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $112.96. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of 17.55 and a beta of 0.56.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 15th. The energy company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. The company had revenue of $411.95 million for the quarter, compared to the consensus estimate of $429.84 million. During the same quarter last year, the business posted $0.83 EPS. As a group, research analysts forecast that IDACORP, Inc. will post 5.32 EPS for the current fiscal year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Monday, February 5th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, February 2nd. IDACORP’s dividend payout ratio (DPR) is 64.59%.

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.