F M Investments LLC Sells 51,936 Shares of IDACORP, Inc. (NYSE:IDA)

F M Investments LLC reduced its position in shares of IDACORP, Inc. (NYSE:IDA) by 66.4% in the fourth quarter, Holdings Channel reports. The firm owned 26,256 shares of the energy company’s stock after selling 51,936 shares during the period. F M Investments LLC’s holdings in IDACORP were worth $2,869,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its stake in IDACORP by 98.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after acquiring an additional 120 shares during the last quarter. Versant Capital Management Inc raised its position in IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after purchasing an additional 301 shares during the last quarter. Independence Bank of Kentucky lifted its stake in IDACORP by 123.6% in 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 period. Proficio Capital Partners LLC purchased a new stake in shares of IDACORP in the 4th quarter worth about $45,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in IDACORP in the third quarter worth about $53,000. 89.10% of the stock is currently owned by institutional investors.

IDACORP Stock Performance

Shares of NYSE IDA opened at $115.32 on Friday. The company has a market cap of $6.23 billion, a P/E ratio of 21.04, a P/E/G ratio of 2.32 and a beta of 0.56. The firm’s fifty day moving average is $114.15 and its two-hundred day moving average is $111.10. 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 $88.70 and a 52-week high of $120.84.

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

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s payout ratio is 62.77%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group raised shares of IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. UBS Group upped their price objective on IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Bank of America lifted their price target on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley boosted their price objective on IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $120.50.

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.