IDACORP, Inc. (NYSE:IDA) Shares Sold by Oak Thistle LLC

Oak Thistle LLC decreased its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 40.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,378 shares of the energy company’s stock after selling 5,679 shares during the period. Oak Thistle LLC’s holdings in IDACORP were worth $916,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Eastern Bank boosted its stake in IDACORP by 211.8% in the 4th quarter. Eastern Bank now owns 1,559 shares of the energy company’s stock worth $170,000 after purchasing an additional 1,059 shares in the last quarter. Fulton Bank N.A. lifted its stake in shares of IDACORP by 16.5% during the fourth quarter. Fulton Bank N.A. now owns 4,049 shares of the energy company’s stock worth $442,000 after buying an additional 573 shares during the period. Diversified Trust Co purchased a new stake in shares of IDACORP during the fourth quarter valued at $704,000. Fortem Financial Group LLC increased its position in shares of IDACORP by 6.1% in the 4th quarter. Fortem Financial Group LLC now owns 7,576 shares of the energy company’s stock valued at $828,000 after acquiring an additional 433 shares during the period. Finally, GAMMA Investing LLC raised its stake in IDACORP by 229.7% in the 4th quarter. GAMMA Investing LLC now owns 610 shares of the energy company’s stock worth $67,000 after acquiring an additional 425 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Jefferies Financial Group began coverage on IDACORP in a research note on Friday, September 20th. They set a “hold” rating and a $110.00 price target on the stock. Morgan Stanley increased their price target on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Wells Fargo & Company lifted their price objective on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Bank of America upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and boosted their target price for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, IDACORP presently has a consensus rating of “Hold” and an average target price of $111.00.

IDACORP Stock Performance

Shares of NYSE IDA opened at $107.60 on Thursday. The company has a market capitalization of $5.73 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 2.51 and a beta of 0.65. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The company’s fifty day moving average price is $113.18 and its 200 day moving average price is $105.16. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $120.42.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The firm had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. During the same quarter last year, the company posted $2.07 EPS. On average, research analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current year.

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.