Leeward Investments LLC MA Lowers Position in IDACORP, Inc. (NYSE:IDA)

Leeward Investments LLC MA trimmed its stake in IDACORP, Inc. (NYSE:IDA) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,219 shares of the energy company’s stock after selling 963 shares during the quarter. Leeward Investments LLC MA owned about 0.27% of IDACORP worth $13,295,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in IDACORP during the third quarter worth approximately $40,000. Spirit of America Management Corp NY purchased a new stake in IDACORP during the third quarter worth approximately $56,000. CWM LLC grew its stake in IDACORP by 22.2% during the fourth quarter. CWM LLC now owns 992 shares of the energy company’s stock worth $98,000 after buying an additional 180 shares during the period. Signaturefd LLC grew its stake in IDACORP by 24.2% during the third quarter. Signaturefd LLC now owns 1,175 shares of the energy company’s stock worth $110,000 after buying an additional 229 shares during the period. Finally, Selway Asset Management purchased a new stake in IDACORP during the third quarter worth approximately $118,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Stock Performance

Shares of IDA opened at $94.58 on Friday. The firm has a 50-day moving average price of $90.75 and a 200 day moving average price of $94.05. The firm has a market capitalization of $4.79 billion, a PE ratio of 18.40 and a beta of 0.56. The company has a quick ratio of 1.33, a current ratio of 1.58 and a debt-to-equity ratio of 0.95. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $112.91.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $411.95 million during the quarter, compared to analyst estimates of $429.84 million. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. During the same quarter in the prior year, the firm posted $0.83 EPS. On average, sell-side analysts anticipate that IDACORP, Inc. will post 5.32 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 6th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.32 annualized dividend and a dividend yield of 3.51%. IDACORP’s dividend payout ratio (DPR) is 64.59%.

Analysts Set New Price Targets

IDA has been the subject of several research reports. Guggenheim downgraded shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research note on Monday, January 22nd. StockNews.com raised shares of IDACORP to a “sell” rating in a research report on Friday. Mizuho reduced their target price on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 5th. TheStreet cut shares of IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Finally, Morgan Stanley boosted their target price on shares of IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $93.80.

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.