44,648 Shares in IDACORP, Inc. (NYSE:IDA) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 44,648 shares of the energy company's stock, valued at approximately $45,000. Proficio Capital Partners LLC owned about 0.08% of IDACORP as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in shares of IDACORP in the 3rd quarter worth about $25,000. MassMutual Private Wealth & Trust FSB increased its holdings in IDACORP by 98.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock worth $26,000 after purchasing an additional 120 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock worth $34,000 after buying an additional 301 shares in the last quarter. Independence Bank of Kentucky boosted its position 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 in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in IDACORP during the 3rd quarter valued at $53,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on IDA shares. Morgan Stanley lifted their price objective on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday. Bank of America lifted their price objective on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Finally, UBS Group increased their price target on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $120.50.

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IDACORP Trading Up 1.6 %

Shares of IDA stock traded up $1.88 on Wednesday, reaching $119.27. 304,186 shares of the company's stock were exchanged, compared to its average volume of 326,451. The company's fifty day simple moving average is $113.26 and its 200 day simple moving average is $110.49. The stock has a market capitalization of $6.44 billion, a PE ratio of 21.76, a P/E/G ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a 52 week low of $88.70 and a 52 week high of $120.42. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating the consensus estimate 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%. As a group, analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.88%. IDACORP's payout ratio is currently 62.77%.

IDACORP 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.