4,905 Shares in IDACORP, Inc. (NYSE:IDA) Acquired by MQS Management LLC

MQS Management LLC acquired a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,905 shares of the energy company's stock, valued at approximately $506,000.

Several other hedge funds also recently modified their holdings of IDA. V Square Quantitative Management LLC bought a new position in IDACORP in the third quarter worth $26,000. Rise Advisors LLC lifted its position in IDACORP by 65.8% in the second quarter. Rise Advisors LLC now owns 368 shares of the energy company's stock worth $34,000 after purchasing an additional 146 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in IDACORP in the second quarter worth $35,000. Eastern Bank acquired a new position in IDACORP during the third quarter worth $52,000. Finally, 1620 Investment Advisors Inc. acquired a new position in IDACORP during the second quarter worth $71,000. 89.10% of the stock is owned by institutional investors.

IDACORP Trading Down 0.5 %

IDA traded down $0.59 during midday trading on Thursday, reaching $116.74. 311,611 shares of the company were exchanged, compared to its average volume of 350,068. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. IDACORP, Inc. has a one year low of $86.43 and a one year high of $119.65. The stock has a market capitalization of $6.22 billion, a P/E ratio of 21.77, a PEG ratio of 2.64 and a beta of 0.60. The stock's 50-day simple moving average is $104.70 and its 200 day simple moving average is $99.42.

IDACORP (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.17 by ($0.05). The company had revenue of $528.53 million for the quarter, compared to the consensus estimate of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same quarter last year, the business posted $2.07 EPS. As a group, analysts forecast that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.86 per share. This is a positive change from IDACORP's previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.95%. IDACORP's payout ratio is 63.82%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IDA. Mizuho upgraded IDACORP from a "neutral" rating to an "outperform" rating and raised their target price for the company from $102.00 to $116.00 in a research note on Friday, November 1st. StockNews.com lowered IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. Bank of America upgraded IDACORP from a "neutral" rating to a "buy" rating and raised their target price for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. Jefferies Financial Group began coverage on IDACORP in a research note on Friday, September 20th. They issued a "hold" rating and a $110.00 target price for the company. Finally, Wells Fargo & Company raised their target price on IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $108.83.

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.