Vestcor Inc Purchases Shares of 3,176 IDACORP, Inc. (NYSE:IDA)

Vestcor Inc purchased a new stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,176 shares of the energy company's stock, valued at approximately $347,000.

Several other institutional investors have also modified their holdings of IDA. Atria Investments Inc grew its holdings in IDACORP by 3.1% in the 3rd quarter. Atria Investments Inc now owns 9,765 shares of the energy company's stock worth $1,007,000 after buying an additional 297 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of IDACORP by 6.9% in the 3rd quarter. Natixis Advisors LLC now owns 56,648 shares of the energy company's stock valued at $5,840,000 after acquiring an additional 3,649 shares in the last quarter. Thrivent Financial for Lutherans grew its position in IDACORP by 2.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,511 shares of the energy company's stock worth $1,290,000 after purchasing an additional 262 shares in the last quarter. Pathstone Holdings LLC raised its stake in IDACORP by 18.1% during the 3rd quarter. Pathstone Holdings LLC now owns 26,296 shares of the energy company's stock valued at $2,711,000 after purchasing an additional 4,023 shares during the period. Finally, Caprock Group LLC lifted its holdings in shares of IDACORP by 7.7% in the third quarter. Caprock Group LLC now owns 3,343 shares of the energy company's stock valued at $345,000 after purchasing an additional 239 shares in the last quarter. Institutional investors own 89.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IDA. Jefferies Financial Group dropped their price target on IDACORP from $129.00 to $118.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. UBS Group increased their price target on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research report on Friday. Guggenheim raised shares of IDACORP from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Bank of America lifted their target price on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Finally, Morgan Stanley increased their price objective on IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $120.50.

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IDACORP Stock Down 1.6 %

Shares of IDA stock traded down $1.90 on Friday, hitting $114.32. The company's stock had a trading volume of 587,094 shares, compared to its average volume of 315,239. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a fifty-two week low of $88.70 and a fifty-two week high of $120.42. The firm's fifty day moving average price is $112.07 and its 200-day moving average price is $109.71. 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 (NYSE:IDA - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. The business had revenue of $398.13 million for the quarter, compared to the consensus estimate of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. Research analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP's dividend payout ratio is currently 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.