Tumwater Wealth Management LLC Makes New Investment in IDACORP, Inc. (NYSE:IDA)

Tumwater Wealth Management LLC bought a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,988 shares of the energy company's stock, valued at approximately $545,000. IDACORP accounts for approximately 0.3% of Tumwater Wealth Management LLC's holdings, making the stock its 17th largest position.

A number of other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its stake 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 valued at $26,000 after buying an additional 120 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in IDACORP in the third quarter valued at about $25,000. Versant Capital Management Inc raised its position in IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock worth $34,000 after purchasing an additional 301 shares in the last quarter. Independence Bank of Kentucky lifted its stake in IDACORP by 123.6% during the fourth 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 lifted its stake in IDACORP by 35.9% during the third 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. 89.10% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IDA. Guggenheim raised IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Jefferies Financial Group cut their price objective on IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Morgan Stanley boosted their target price on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research note on Thursday. Finally, Bank of America increased their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $120.20.

IDACORP Price Performance

NYSE:IDA traded down $0.52 during mid-day trading on Thursday, reaching $116.24. 189,327 shares of the company were exchanged, compared to its average volume of 314,738. IDACORP, Inc. has a 12 month low of $88.70 and a 12 month high of $120.42. The company has a fifty day moving average of $111.95 and a 200 day moving average of $109.66. The stock has a market cap of $6.27 billion, a PE ratio of 21.21, a PEG ratio of 2.32 and a beta of 0.59. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

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

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.96%. The ex-dividend date was Wednesday, February 5th. IDACORP's payout ratio is 62.77%.

About IDACORP

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.