William Blair Investment Management LLC Sells 597 Shares of IDACORP, Inc. (NYSE:IDA)

William Blair Investment Management LLC decreased its stake in shares of IDACORP, Inc. (NYSE:IDA) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 380,068 shares of the energy company’s stock after selling 597 shares during the quarter. William Blair Investment Management LLC owned about 0.71% of IDACORP worth $41,534,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in shares of IDACORP during the third quarter worth $25,000. Versant Capital Management Inc boosted its position in shares of IDACORP by 2,150.0% during the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after acquiring an additional 301 shares during the last quarter. Independence Bank of Kentucky boosted its position in shares of IDACORP by 123.6% during the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after acquiring an additional 225 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in IDACORP by 35.9% during the third quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock valued at $46,000 after purchasing an additional 117 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Trading Up 0.0 %

Shares of IDA opened at $116.01 on Tuesday. The company’s fifty day simple moving average is $111.69 and its 200-day simple moving average is $109.52. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The company has a market cap of $6.26 billion, a P/E ratio of 21.17, a P/E/G ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a twelve month low of $88.70 and a twelve month high of $120.42.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The firm had revenue of $398.13 million for the quarter, compared to analysts’ expectations of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. As a group, analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s payout ratio is presently 62.77%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on IDA shares. Bank of America upped their price target on shares of IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Morgan Stanley upped their price target on shares of IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Jefferies Financial Group decreased their price target on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Finally, Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $118.20.

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.