Victory Capital Management Inc. Reduces Holdings in IDACORP, Inc. (NYSE:IDA)

Victory Capital Management Inc. decreased its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 22.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,290 shares of the energy company’s stock after selling 1,865 shares during the period. Victory Capital Management Inc.’s holdings in IDACORP were worth $650,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Destiny Wealth Partners LLC acquired a new stake in shares of IDACORP during the third quarter worth about $54,000. Berman Capital Advisors LLC lifted its holdings in IDACORP by 23.4% in the third quarter. Berman Capital Advisors LLC now owns 596 shares of the energy company’s stock valued at $60,000 after acquiring an additional 113 shares during the period. Heritage Wealth Management LLC lifted its holdings in IDACORP by 59.0% in the second quarter. Heritage Wealth Management LLC now owns 1,078 shares of the energy company’s stock valued at $105,000 after acquiring an additional 400 shares during the period. Mountain Pacific Investment Advisers Inc. ID acquired a new position in IDACORP in the third quarter valued at approximately $206,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in IDACORP in the third quarter valued at approximately $207,000. 78.74% of the stock is owned by hedge funds and other institutional investors.

Shares of IDA stock opened at $110.38 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.98 and a quick ratio of 1.68. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 4.99 and a beta of 0.52. The stock has a 50 day simple moving average of $108.87 and a 200-day simple moving average of $105.81. IDACORP, Inc. has a 1-year low of $85.30 and a 1-year high of $114.18.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, October 28th. The energy company reported $1.93 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($0.06). The business had revenue of $446.94 million for the quarter, compared to analyst estimates of $392.03 million. IDACORP had a return on equity of 9.60% and a net margin of 17.39%. During the same period in the previous year, the company earned $2.02 earnings per share. Analysts anticipate that IDACORP, Inc. will post 4.87 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 30th. Investors of record on Friday, November 5th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.72%. This is a boost from IDACORP’s previous quarterly dividend of $0.71. The ex-dividend date was Thursday, November 4th. IDACORP’s payout ratio is presently 60.73%.

A number of research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on IDACORP from $105.00 to $107.00 and gave the company an “underweight” rating in a report on Friday, October 29th. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating in a report on Tuesday, November 16th.

IDACORP Profile

IDACORP, Inc is a holding company, which engages in the generation, transmission, distribution, sale, and purchase of electric energy. The firm owns and operates hydroelectric plants on the Snake River and its tributaries. It operates through the following segments: Utilities Operations and Other. The Utilities Operations segment focuses in the production of electricity.

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Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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