Algert Global LLC Acquires 10,550 Shares of IDACORP, Inc. (NYSE:IDA)

Algert Global LLC boosted its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 42.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,383 shares of the energy company's stock after buying an additional 10,550 shares during the period. Algert Global LLC owned 0.07% of IDACORP worth $3,648,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in IDACORP during the third quarter valued at about $26,000. Rise Advisors LLC grew its stake in shares of IDACORP by 65.8% in the 2nd 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 last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of IDACORP in the 2nd quarter worth approximately $35,000. 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 valued at $46,000 after purchasing an additional 117 shares during the last quarter. Finally, Eastern Bank acquired a new stake in IDACORP during the third quarter valued at approximately $52,000. Institutional investors and hedge funds own 89.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Mizuho raised IDACORP from a "neutral" rating to an "outperform" rating and upped their price target for the company from $102.00 to $116.00 in a report on Friday, November 1st. Wells Fargo & Company boosted their target price on IDACORP from $106.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. StockNews.com downgraded IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Morgan Stanley lifted their price target on IDACORP from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. Finally, Bank of America raised shares of IDACORP from a "neutral" rating to a "buy" rating and upped their price objective for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $108.83.

IDACORP Stock Down 0.7 %

NYSE:IDA traded down $0.79 on Tuesday, hitting $118.17. 189,273 shares of the company's stock traded hands, compared to its average volume of 349,067. The company has a market cap of $6.29 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 2.64 and a beta of 0.60. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year 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. The firm has a 50-day moving average price of $107.00 and a 200-day moving average price of $100.68.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing analysts' consensus estimates of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The company had revenue of $528.53 million for the quarter, compared to analysts' expectations of $524.39 million. During the same period in the previous year, the firm posted $2.07 earnings per share. Equities analysts anticipate that IDACORP, Inc. will post 5.42 EPS for the current fiscal year.

IDACORP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.91%. 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. IDACORP's dividend payout ratio (DPR) is currently 63.82%.

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.