IDACORP, Inc. (NYSE:IDA) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd lowered its position in IDACORP, Inc. (NYSE:IDA) by 2.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 37,723 shares of the energy company’s stock after selling 791 shares during the quarter. Magellan Asset Management Ltd’s holdings in IDACORP were worth $3,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in IDA. Arizona State Retirement System increased its stake in shares of IDACORP by 1.4% in the third quarter. Arizona State Retirement System now owns 14,409 shares of the energy company’s stock valued at $1,349,000 after purchasing an additional 194 shares during the period. Keybank National Association OH increased its stake in shares of IDACORP by 31.3% in the third quarter. Keybank National Association OH now owns 4,977 shares of the energy company’s stock valued at $466,000 after purchasing an additional 1,186 shares during the period. Amalgamated Bank increased its stake in shares of IDACORP by 1.5% in the third quarter. Amalgamated Bank now owns 33,485 shares of the energy company’s stock valued at $3,136,000 after purchasing an additional 483 shares during the period. Swiss National Bank increased its stake in shares of IDACORP by 1.0% in the third quarter. Swiss National Bank now owns 111,200 shares of the energy company’s stock valued at $10,414,000 after purchasing an additional 1,100 shares during the period. Finally, Gabelli Funds LLC increased its stake in shares of IDACORP by 1.2% during the third quarter. Gabelli Funds LLC now owns 47,441 shares of the energy company’s stock valued at $4,443,000 after acquiring an additional 541 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

Insiders Place Their Bets

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $95.09, for a total transaction of $142,635.00. Following the transaction, the vice president now directly owns 1,650 shares in the company, valued at approximately $156,898.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

IDACORP Price Performance

IDACORP stock traded down $0.64 during mid-day trading on Thursday, hitting $92.77. The company’s stock had a trading volume of 433,839 shares, compared to its average volume of 373,748. The company has a quick ratio of 1.19, a current ratio of 1.54 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $4.94 billion, a P/E ratio of 18.63 and a beta of 0.57. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $106.69. The stock’s fifty day moving average price is $94.47 and its two-hundred day moving average price is $93.98.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.06). The business had revenue of $448.94 million during the quarter, compared to analyst estimates of $441.21 million. IDACORP had a return on equity of 8.71% and a net margin of 14.18%. During the same quarter last year, the firm posted $1.11 EPS. Research analysts forecast that IDACORP, Inc. will post 5.35 earnings per share for the current year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Monday, May 6th were given a $0.83 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.32 annualized dividend and a yield of 3.58%. IDACORP’s dividend payout ratio (DPR) is 66.67%.

Analyst Ratings Changes

A number of research firms recently commented on IDA. Wells Fargo & Company raised their price objective on shares of IDACORP from $94.00 to $98.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Mizuho raised their price objective on shares of IDACORP from $88.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. TheStreet lowered shares of IDACORP from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. StockNews.com upgraded shares of IDACORP to a “sell” rating in a research note on Friday, April 26th. Finally, Morgan Stanley raised their price objective on shares of IDACORP from $96.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $97.40.

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.