Pictet Asset Management Holding SA reduced its holdings in IDACORP, Inc. (NYSE:IDA – Free Report) by 1.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 770,812 shares of the energy company’s stock after selling 9,149 shares during the period. Pictet Asset Management Holding SA’s holdings in IDACORP were worth $110,203,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in IDA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of IDACORP by 79.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company’s stock valued at $690,000 after acquiring an additional 2,625 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in IDACORP by 6.8% during the first quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock worth $39,805,000 after acquiring an additional 21,890 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in IDACORP by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company’s stock valued at $16,698,000 after purchasing an additional 10,855 shares during the period. American Century Companies Inc. lifted its stake in shares of IDACORP by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 18,035 shares of the energy company’s stock valued at $2,082,000 after purchasing an additional 2,016 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of IDACORP by 5.7% in the 2nd quarter. Invesco Ltd. now owns 247,190 shares of the energy company’s stock valued at $28,538,000 after purchasing an additional 13,297 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors.
IDACORP Trading Down 0.7%
Shares of IDA opened at $151.88 on Monday. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 3.05 and a beta of 0.49. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95. IDACORP, Inc. has a 1-year low of $113.82 and a 1-year high of $152.88. The company has a 50-day moving average of $143.14 and a 200 day moving average of $138.61.
IDACORP Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 5th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.3%. IDACORP’s dividend payout ratio (DPR) is presently 58.57%.
Insider Buying and Selling
In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $140.95, for a total value of $211,425.00. Following the completion of the transaction, the vice president directly owned 2,138 shares in the company, valued at approximately $301,351.10. The trade was a 41.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on IDA. Wall Street Zen raised IDACORP from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 12th. Wells Fargo & Company restated an “underweight” rating and issued a $121.00 price target on shares of IDACORP in a research report on Tuesday, April 21st. Mizuho set a $157.00 price objective on shares of IDACORP in a research note on Friday, May 1st. Barclays boosted their price objective on shares of IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings raised shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.29.
View Our Latest Report on IDACORP
IDACORP Company Profile
IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.
Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.
Featured Stories
- Five stocks we like better than IDACORP
- As Stablecoins Keep Growing, These 2 Stocks Benefit
- Apple Just Handed These 4 Memory Stocks Their Best News of the Year
- Costco’s Secret Growth Engine May Be Running Out of Gas
- Why Alphabet’s Pullback May Be an Opportunity in Disguise
Want to see what other hedge funds are holding IDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDACORP, Inc. (NYSE:IDA – Free Report).
Receive News & Ratings for IDACORP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDACORP and related companies with MarketBeat.com's FREE daily email newsletter.
