John G Ullman & Associates Inc. Sells 350 Shares of IDACORP, Inc. (NYSE:IDA)

John G Ullman & Associates Inc. lessened its position in shares of IDACORP, Inc. (NYSE:IDA) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,993 shares of the energy company’s stock after selling 350 shares during the period. John G Ullman & Associates Inc. owned approximately 0.08% of IDACORP worth $4,370,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Diversified Trust Co bought a new stake in shares of IDACORP during the 4th quarter worth approximately $704,000. Algert Global LLC increased its position in IDACORP by 42.5% during the 3rd quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock worth $3,648,000 after purchasing an additional 10,550 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in IDACORP by 67.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock worth $4,918,000 after purchasing an additional 19,274 shares in the last quarter. GSA Capital Partners LLP acquired a new position in IDACORP during the 3rd quarter worth approximately $3,228,000. Finally, Charles Schwab Investment Management Inc. increased its position in IDACORP by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock worth $71,368,000 after purchasing an additional 35,651 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Trading Up 2.7 %

Shares of NYSE IDA opened at $118.12 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. IDACORP, Inc. has a 52-week low of $86.47 and a 52-week high of $120.42. The firm has a 50 day moving average price of $110.44 and a two-hundred day moving average price of $108.46. The stock has a market cap of $6.38 billion, a P/E ratio of 21.56, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The firm had revenue of $398.13 million during the quarter, compared to analysts’ expectations of $403.21 million. As a group, equities analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s dividend payout ratio is currently 62.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Bank of America upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Morgan Stanley upped their price objective on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group lowered their price objective on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $116.20.

IDACORP Company 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.