Buffington Mohr McNeal Sells 139 Shares of IDACORP, Inc. (NYSE:IDA)

Buffington Mohr McNeal lessened its position in shares of IDACORP, Inc. (NYSE:IDA) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,583 shares of the energy company’s stock after selling 139 shares during the quarter. Buffington Mohr McNeal’s holdings in IDACORP were worth $519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IDA. Wellington Management Group LLP lifted its holdings in shares of IDACORP by 50.3% during the 4th quarter. Wellington Management Group LLP now owns 1,634,463 shares of the energy company’s stock valued at $160,700,000 after purchasing an additional 546,818 shares during the last quarter. Victory Capital Management Inc. raised its stake in IDACORP by 29.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,194,847 shares of the energy company’s stock valued at $117,477,000 after buying an additional 273,560 shares during the last quarter. American Trust boosted its holdings in IDACORP by 13.7% in the third quarter. American Trust now owns 828,208 shares of the energy company’s stock worth $77,562,000 after acquiring an additional 100,016 shares in the last quarter. First Trust Advisors LP grew its stake in shares of IDACORP by 0.9% during the fourth quarter. First Trust Advisors LP now owns 761,621 shares of the energy company’s stock worth $74,883,000 after acquiring an additional 7,008 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of IDACORP by 10.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 649,195 shares of the energy company’s stock valued at $63,829,000 after acquiring an additional 61,546 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of IDACORP stock traded up $0.03 during trading hours on Tuesday, reaching $92.25. The stock had a trading volume of 156,841 shares, compared to its average volume of 372,765. The stock’s 50 day moving average is $94.48 and its 200 day moving average is $93.17. The company has a current ratio of 1.54, a quick ratio of 1.19 and a debt-to-equity ratio of 0.95. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $106.33. The firm has a market capitalization of $4.91 billion, a PE ratio of 18.52 and a beta of 0.58.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.06). IDACORP had a net margin of 14.18% and a return on equity of 8.71%. The business had revenue of $448.94 million during the quarter, compared to analysts’ expectations of $441.21 million. During the same quarter last year, the firm earned $1.11 earnings per share. Equities analysts expect that IDACORP, Inc. will post 5.36 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Monday, May 6th were issued a $0.83 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.32 dividend on an annualized basis and a yield of 3.60%. IDACORP’s payout ratio is currently 66.67%.

Insiders Place Their Bets

In other news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $95.09, for a total value of $142,635.00. Following the completion of the sale, the vice president now directly owns 1,650 shares in the company, valued at $156,898.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on IDA shares. Wells Fargo & Company raised their price target on shares of IDACORP from $94.00 to $98.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. StockNews.com upgraded IDACORP to a “sell” rating in a research note on Friday, April 26th. Mizuho lifted their price objective on shares of IDACORP from $88.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Finally, Morgan Stanley reduced their target price on shares of IDACORP from $98.00 to $93.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. One investment 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, the company currently has a consensus rating of “Hold” and an average target price of $96.40.

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.