Anchor Capital Advisors LLC Sells 6,279 Shares of IDACORP, Inc. (NYSE:IDA)

Anchor Capital Advisors LLC reduced its stake in IDACORP, Inc. (NYSE:IDA) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 177,582 shares of the energy company’s stock after selling 6,279 shares during the quarter. Anchor Capital Advisors LLC owned approximately 0.33% of IDACORP worth $19,406,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IDA. Allworth Financial LP lifted its position in shares of IDACORP by 33.7% during the 3rd quarter. Allworth Financial LP now owns 2,847 shares of the energy company’s stock valued at $293,000 after buying an additional 717 shares in the last quarter. Louisiana State Employees Retirement System raised its position in IDACORP by 3.5% during the third quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the energy company’s stock valued at $1,526,000 after purchasing an additional 500 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of IDACORP by 7.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the energy company’s stock valued at $532,000 after purchasing an additional 372 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of IDACORP by 2.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 36,001 shares of the energy company’s stock worth $3,711,000 after purchasing an additional 710 shares during the period. Finally, New York State Teachers Retirement System increased its position in shares of IDACORP by 6.1% during the 3rd quarter. New York State Teachers Retirement System now owns 82,016 shares of the energy company’s stock valued at $8,455,000 after purchasing an additional 4,723 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com downgraded IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $102.00 to $116.00 in a research note on Friday, November 1st. Morgan Stanley lifted 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. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and upped their target price for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $116.20.

IDACORP Price Performance

Shares of IDA opened at $115.26 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The company’s fifty day moving average price is $110.25 and its 200-day moving average price is $108.29. IDACORP, Inc. has a 1-year low of $86.47 and a 1-year high of $120.42. The firm has a market capitalization of $6.22 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65.

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

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Wednesday, February 5th. IDACORP’s dividend payout ratio is presently 62.77%.

About IDACORP

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.