IDACORP, Inc. (NYSE:IDA) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC decreased its position in IDACORP, Inc. (NYSE:IDA) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 382,925 shares of the energy company’s stock after selling 2,000 shares during the quarter. William Blair Investment Management LLC owned 0.72% of IDACORP worth $35,669,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Nuance Investments LLC purchased a new position in shares of IDACORP in the first quarter valued at $86,962,000. Wellington Management Group LLP boosted its position in IDACORP by 50.3% in the 4th quarter. Wellington Management Group LLP now owns 1,634,463 shares of the energy company’s stock valued at $160,700,000 after buying an additional 546,818 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of IDACORP by 128.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 394,857 shares of the energy company’s stock valued at $38,822,000 after acquiring an additional 221,777 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of IDACORP by 59.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 391,388 shares of the energy company’s stock worth $36,356,000 after acquiring an additional 145,316 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of IDACORP in the second quarter worth about $8,032,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of IDA opened at $103.51 on Friday. IDACORP, Inc. has a 52 week low of $86.43 and a 52 week high of $105.24. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 0.87. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 20.79 and a beta of 0.60. The stock has a 50 day moving average of $99.83 and a 200-day moving average of $95.28.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.34. The firm had revenue of $451.04 million during the quarter, compared to the consensus estimate of $420.56 million. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. During the same quarter in the previous year, the company posted $1.35 earnings per share. As a group, analysts forecast that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 5th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Monday, August 5th. IDACORP’s dividend payout ratio is presently 66.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley raised their price objective on IDACORP from $94.00 to $102.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Wells Fargo & Company raised their price target on shares of IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, Bank of America began coverage on shares of IDACORP in a report on Thursday. They issued a “neutral” rating and a $110.00 price target on the stock. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $101.50.

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.