Shell Asset Management Co. Sells 567 Shares of IDACORP, Inc. (NYSE:IDA)

Shell Asset Management Co. reduced its stake in shares of IDACORP, Inc. (NYSE:IDAGet Rating) by 12.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,826 shares of the energy company’s stock after selling 567 shares during the period. Shell Asset Management Co.’s holdings in IDACORP were worth $441,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chilton Capital Management LLC bought a new stake in IDACORP during the 4th quarter worth approximately $26,000. Aquire Wealth Advisors LLC bought a new stake in IDACORP during the 4th quarter worth approximately $61,000. Rather & Kittrell Inc. bought a new stake in IDACORP during the 4th quarter worth approximately $61,000. Covestor Ltd bought a new stake in IDACORP during the 4th quarter worth approximately $64,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of IDACORP by 181.1% in the fourth quarter. First Horizon Advisors Inc. now owns 579 shares of the energy company’s stock valued at $65,000 after acquiring an additional 373 shares in the last quarter. 77.88% of the stock is owned by institutional investors.

IDACORP Stock Performance

IDA stock opened at $110.60 on Thursday. The firm has a market cap of $5.59 billion, a PE ratio of 22.71, a P/E/G ratio of 7.90 and a beta of 0.56. The company has a quick ratio of 1.56, a current ratio of 1.87 and a debt-to-equity ratio of 0.76. The business has a 50 day moving average of $105.73 and a 200-day moving average of $107.97. IDACORP, Inc. has a 12-month low of $95.26 and a 12-month high of $118.92.

IDACORP (NYSE:IDAGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The energy company reported $0.91 EPS for the quarter. IDACORP had a return on equity of 9.28% and a net margin of 16.62%. The business had revenue of $344.29 million for the quarter, compared to the consensus estimate of $306.55 million. During the same quarter in the prior year, the business earned $0.89 earnings per share. As a group, sell-side analysts expect that IDACORP, Inc. will post 5 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Wednesday, August 3rd will be paid a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, August 2nd. This represents a $3.00 annualized dividend and a yield of 2.71%. IDACORP’s payout ratio is 61.60%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company raised IDACORP from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $108.00 to $110.00 in a report on Tuesday, May 3rd.

IDACORP Company Profile

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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.

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Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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