Hantz Financial Services Inc. Sells 7,452 Shares of IDACORP, Inc. (NYSE:IDA)

Hantz Financial Services Inc. cut its position in IDACORP, Inc. (NYSE:IDA) by 44.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,465 shares of the energy company’s stock after selling 7,452 shares during the quarter. Hantz Financial Services Inc.’s holdings in IDACORP were worth $976,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Clean Energy Transition LLP acquired a new position in shares of IDACORP in the second quarter valued at approximately $49,103,000. Nuance Investments LLC raised its stake in shares of IDACORP by 19.0% during the second quarter. Nuance Investments LLC now owns 1,114,475 shares of the energy company’s stock valued at $103,813,000 after acquiring an additional 178,294 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of IDACORP by 30.8% during the second quarter. Deprince Race & Zollo Inc. now owns 576,136 shares of the energy company’s stock worth $53,667,000 after purchasing an additional 135,793 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of IDACORP in the second quarter worth $8,032,000. Finally, F M Investments LLC acquired a new stake in IDACORP in the second quarter valued at $5,236,000. 89.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IDA. Jefferies Financial Group started coverage on IDACORP in a research report on Friday, September 20th. They issued a “hold” rating and a $110.00 price target on the stock. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Wells Fargo & Company raised their price target on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley upped their price objective on shares of IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $108.83.

IDACORP Price Performance

IDACORP stock opened at $118.47 on Monday. The stock’s 50 day moving average price is $108.25 and its two-hundred day moving average price is $101.24. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 2.64 and a beta of 0.60. 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 $86.43 and a 52-week high of $120.42.

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

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.90%. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, November 5th. IDACORP’s payout ratio is presently 63.82%.

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.