Wealthspire Advisors LLC Takes $316,000 Position in IDACORP, Inc. (NYSE:IDA)

Wealthspire Advisors LLC purchased a new stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,896 shares of the energy company's stock, valued at approximately $316,000.

Several other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in IDACORP during the third quarter worth $25,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of IDACORP by 2,150.0% in the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock worth $34,000 after acquiring an additional 301 shares during the last quarter. Independence Bank of Kentucky boosted its stake in shares of IDACORP by 123.6% during the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock worth $44,000 after purchasing an additional 225 shares during the period. Finally, Avior Wealth Management LLC raised its position in IDACORP by 35.9% in the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company's stock worth $46,000 after purchasing an additional 117 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IDA shares. StockNews.com downgraded IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Jefferies Financial Group decreased their target price on IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Morgan Stanley lifted their price objective on shares of IDACORP from $110.00 to $121.00 and gave the company an "equal weight" rating in a report on Friday, December 13th. Finally, Bank of America lifted their price objective on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $118.20.

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IDACORP Price Performance

Shares of NYSE:IDA traded up $1.21 during midday trading on Monday, hitting $119.12. The company had a trading volume of 236,578 shares, compared to its average volume of 301,006. The business's 50-day simple moving average is $110.44 and its 200-day simple moving average is $108.50. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP, Inc. has a twelve month low of $86.64 and a twelve month high of $120.42.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The firm had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. On average, research analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP's dividend payout ratio (DPR) is 62.77%.

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.