American Trust Sells 990 Shares of IDACORP, Inc. (NYSE:IDA)

American Trust decreased its position in shares of IDACORP, Inc. (NYSE:IDA) by 0.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 827,294 shares of the energy company’s stock after selling 990 shares during the period. IDACORP comprises 7.0% of American Trust’s portfolio, making the stock its 3rd biggest position. American Trust owned about 1.55% of IDACORP worth $76,847,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. NBC Securities Inc. increased its position in IDACORP by 14,206.7% in the 4th quarter. NBC Securities Inc. now owns 25,609 shares of the energy company’s stock valued at $2,517,000 after acquiring an additional 25,430 shares in the last quarter. First Eagle Investment Management LLC raised its position in IDACORP by 18.4% in the 1st quarter. First Eagle Investment Management LLC now owns 129,880 shares of the energy company’s stock worth $12,065,000 after purchasing an additional 20,184 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in IDACORP by 6.5% during the 4th quarter. Westwood Holdings Group Inc. now owns 204,925 shares of the energy company’s stock worth $20,148,000 after buying an additional 12,432 shares in the last quarter. Buckley Wealth Management LLC boosted its position in IDACORP by 273.1% in the 1st quarter. Buckley Wealth Management LLC now owns 38,425 shares of the energy company’s stock valued at $3,569,000 after buying an additional 28,125 shares during the last quarter. Finally, Sei Investments Co. boosted its position in IDACORP by 90.0% in the 1st quarter. Sei Investments Co. now owns 74,368 shares of the energy company’s stock valued at $6,908,000 after buying an additional 35,217 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

Insider Buying and Selling at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction 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 completion of the transaction, the vice president now directly owns 1,650 shares of the company’s stock, valued at $156,898.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

IDA has been the subject of a number of research reports. Mizuho lifted their price objective on IDACORP from $88.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. StockNews.com raised shares of IDACORP to a “sell” rating in a report on Friday, April 26th. Wells Fargo & Company lifted their price objective on IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Morgan Stanley decreased their target price on IDACORP from $98.00 to $93.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, IDACORP presently has a consensus rating of “Hold” and an average target price of $98.00.

IDACORP Stock Up 1.8 %

Shares of IDACORP stock traded up $1.82 on Friday, hitting $104.13. The company had a trading volume of 614,222 shares, compared to its average volume of 320,403. The stock has a 50-day moving average of $94.00 and a 200-day moving average of $92.85. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.54 and a quick ratio of 1.19. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $104.43. The firm has a market capitalization of $5.54 billion, a P/E ratio of 20.91 and a beta of 0.58.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.37 by $0.34. The firm had revenue of $451.04 million for the quarter, compared to analysts’ expectations of $420.56 million. IDACORP had a return on equity of 9.38% and a net margin of 15.04%. During the same quarter in the previous year, the business posted $1.35 EPS. Research analysts predict that IDACORP, Inc. will post 5.37 earnings per share for the current year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 5th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.32 dividend on an annualized basis and a yield of 3.19%. IDACORP’s payout ratio is 66.67%.

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.