William Blair Investment Management LLC Sells 37,357 Shares of IDACORP, Inc. (NYSE:IDA)

William Blair Investment Management LLC reduced its position in IDACORP, Inc. (NYSE:IDA) by 8.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 384,925 shares of the energy company’s stock after selling 37,357 shares during the quarter. William Blair Investment Management LLC’s holdings in IDACORP were worth $35,756,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mather Group LLC. bought a new position in IDACORP in the 1st quarter valued at about $41,000. Northwest Financial Advisors bought a new stake in shares of IDACORP during the 4th quarter valued at approximately $52,000. Kapitalo Investimentos Ltda bought a new stake in shares of IDACORP during the 4th quarter valued at approximately $54,000. EverSource Wealth Advisors LLC grew its holdings in shares of IDACORP by 19.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock valued at $68,000 after purchasing an additional 112 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of IDACORP by 22.2% during the 4th quarter. CWM LLC now owns 992 shares of the energy company’s stock valued at $98,000 after purchasing an additional 180 shares during the last quarter. 89.10% of the stock is owned by institutional investors.

IDACORP Trading Up 0.6 %

IDA traded up $0.54 during trading on Wednesday, reaching $95.30. 407,006 shares of the company’s stock were exchanged, compared to its average volume of 363,565. IDACORP, Inc. has a one year low of $86.43 and a one year high of $106.33. The company has a current ratio of 1.54, a quick ratio of 1.19 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $5.07 billion, a PE ratio of 19.14 and a beta of 0.58. The firm has a fifty day moving average price of $93.99 and a two-hundred day moving average price of $92.83.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.06). The firm 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. As a group, equities research analysts forecast that IDACORP, Inc. will post 5.36 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Monday, May 6th were given a $0.83 dividend. The ex-dividend date was Friday, May 3rd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.48%. IDACORP’s dividend payout ratio (DPR) is currently 66.67%.

Insider Transactions at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $95.09, for a total value of $142,635.00. Following the transaction, the vice president now owns 1,650 shares in the company, valued at approximately $156,898.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on IDA shares. Mizuho lifted their price target on shares of IDACORP from $88.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Morgan Stanley decreased their price target on shares of IDACORP from $98.00 to $93.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Wells Fargo & Company boosted their target price on shares of IDACORP from $94.00 to $98.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Finally, StockNews.com raised shares of IDACORP to a “sell” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $96.40.

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.