Trexquant Investment LP Sells 26,291 Shares of IDACORP, Inc. (NYSE:IDA)

Trexquant Investment LP lowered its position in shares of IDACORP, Inc. (NYSE:IDA) by 53.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,578 shares of the energy company’s stock after selling 26,291 shares during the period. Trexquant Investment LP’s holdings in IDACORP were worth $2,220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its position in IDACORP by 29.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,194,847 shares of the energy company’s stock worth $117,477,000 after purchasing an additional 273,560 shares during the period. Wellington Management Group LLP bought a new stake in IDACORP in the 3rd quarter worth approximately $101,858,000. American Trust grew its position in IDACORP by 13.7% in the 3rd quarter. American Trust now owns 828,208 shares of the energy company’s stock worth $77,562,000 after purchasing an additional 100,016 shares during the period. Dimensional Fund Advisors LP grew its position in IDACORP by 10.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 649,195 shares of the energy company’s stock worth $63,829,000 after purchasing an additional 61,546 shares during the period. Finally, River Road Asset Management LLC grew its position in IDACORP by 335.2% in the 3rd quarter. River Road Asset Management LLC now owns 632,457 shares of the energy company’s stock worth $59,230,000 after purchasing an additional 487,134 shares during the period. Institutional investors own 89.10% of the company’s stock.

Insiders Place Their Bets

In other news, VP James Bo D. Hanchey sold 1,500 shares of the business’s 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 sale, the vice president now directly owns 1,650 shares in the company, valued at approximately $156,898.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

IDACORP Stock Up 0.7 %

Shares of IDA stock opened at $95.61 on Friday. The stock has a market cap of $5.09 billion, a P/E ratio of 19.20 and a beta of 0.55. IDACORP, Inc. has a 52 week low of $86.43 and a 52 week high of $106.69. The company has a quick ratio of 1.19, a current ratio of 1.54 and a debt-to-equity ratio of 0.95. The company’s fifty day simple moving average is $93.91 and its two-hundred day simple moving average is $94.10.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.95 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.06). The company had revenue of $448.94 million during the quarter, compared to analysts’ expectations of $441.21 million. IDACORP had a return on equity of 8.71% and a net margin of 14.18%. During the same quarter in the previous year, the firm earned $1.11 EPS. Analysts predict that IDACORP, Inc. will post 5.35 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.47%. The ex-dividend date is Friday, May 3rd. IDACORP’s payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IDA. StockNews.com raised shares of IDACORP to a “sell” rating in a research report on Friday, April 26th. Morgan Stanley boosted their price objective on shares of IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. TheStreet downgraded shares of IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Mizuho boosted their price objective on shares of IDACORP from $88.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Finally, Wells Fargo & Company lifted their target price on shares of IDACORP from $94.00 to $98.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, IDACORP presently has an average rating of “Hold” and a consensus price target of $96.80.

IDACORP Company 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.