John G Ullman & Associates Inc. Sells 200 Shares of IDACORP, Inc. (NYSE:IDA)

John G Ullman & Associates Inc. reduced its stake in shares of IDACORP, Inc. (NYSE:IDA) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,518 shares of the energy company’s stock after selling 200 shares during the quarter. John G Ullman & Associates Inc. owned about 0.08% of IDACORP worth $4,082,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of IDA. LPL Financial LLC boosted its stake in IDACORP by 0.6% in the second quarter. LPL Financial LLC now owns 15,675 shares of the energy company’s stock valued at $1,660,000 after acquiring an additional 100 shares during the last quarter. Cohen & Steers Inc. raised its holdings in IDACORP by 33.8% in the first quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock worth $46,000 after purchasing an additional 101 shares during the period. State of Wyoming raised its holdings in shares of IDACORP by 34.4% during the second quarter. State of Wyoming now owns 426 shares of the energy company’s stock worth $44,000 after acquiring an additional 109 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of IDACORP by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 13,381 shares of the energy company’s stock worth $1,325,000 after acquiring an additional 117 shares during the period. Finally, Commonwealth Equity Services LLC grew its position in IDACORP by 0.8% in the third quarter. Commonwealth Equity Services LLC now owns 15,335 shares of the energy company’s stock valued at $1,436,000 after purchasing an additional 129 shares in the last quarter. 89.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on IDA shares. Mizuho decreased their target price on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, March 5th. Morgan Stanley lifted 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. Guggenheim downgraded shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research report on Monday, January 22nd. Finally, Wells Fargo & Company reduced their target price on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $93.80.

IDACORP Stock Performance

IDACORP stock traded up $1.62 during midday trading on Friday, hitting $93.90. The company’s stock had a trading volume of 249,359 shares, compared to its average volume of 382,916. IDACORP, Inc. has a 1-year low of $86.43 and a 1-year high of $112.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.33. The company has a 50-day moving average price of $90.16 and a two-hundred day moving average price of $94.01. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 18.23 and a beta of 0.56.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, February 15th. The energy company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $411.95 million during the quarter, compared to analysts’ expectations of $429.84 million. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. During the same period in the previous year, the company earned $0.83 EPS. As a group, sell-side analysts predict that IDACORP, Inc. will post 5.32 earnings per share for the current year.

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.