PNC Financial Services Group Inc. trimmed its position in IDACORP, Inc. (NYSE:IDA – Free Report) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,018 shares of the energy company’s stock after selling 186 shares during the quarter. PNC Financial Services Group Inc.’s holdings in IDACORP were worth $938,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Chilton Capital Management LLC bought a new stake in shares of IDACORP in the 1st quarter valued at approximately $25,000. Headlands Technologies LLC bought a new stake in shares of IDACORP in the 3rd quarter valued at approximately $40,000. State of Wyoming increased its holdings in shares of IDACORP by 34.4% in the 2nd quarter. State of Wyoming now owns 426 shares of the energy company’s stock valued at $44,000 after acquiring an additional 109 shares during the last quarter. Cohen & Steers Inc. increased its holdings in shares of IDACORP by 33.8% in the 1st quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock valued at $46,000 after acquiring an additional 101 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of IDACORP in the 4th quarter valued at approximately $50,000. 83.00% of the stock is currently owned by institutional investors.
IDACORP Trading Up 0.4 %
NYSE:IDA opened at $89.75 on Monday. 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 $4.54 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 3.83 and a beta of 0.57. The business has a fifty day moving average of $93.80 and a 200-day moving average of $95.45. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.33 and a current ratio of 1.58.
IDACORP (NYSE:IDA – Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $429.84 million. During the same quarter in the prior year, the business posted $0.83 earnings per share. Equities analysts predict that IDACORP, Inc. will post 5.35 earnings per share for the current year.
IDACORP Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Monday, February 5th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $3.32 annualized dividend and a dividend yield of 3.70%. IDACORP’s dividend payout ratio (DPR) is 64.59%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on IDA shares. Guggenheim downgraded IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research note on Monday, January 22nd. Wells Fargo & Company lowered their price objective 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. Mizuho upped their price objective on IDACORP from $93.00 to $98.00 and gave the stock a “neutral” rating in a research note on Friday, December 1st. StockNews.com upgraded IDACORP to a “sell” rating in a research note on Monday, November 20th. Finally, TheStreet downgraded IDACORP from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, IDACORP has a consensus rating of “Hold” and an average price target of $96.00.
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.
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Source: americanbankingnews.com
