Alliancebernstein L.P. Boosts Stock Position in IDACORP, Inc. (NYSE:IDA)

Alliancebernstein L.P. boosted its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,379,408 shares of the energy company's stock after purchasing an additional 29,094 shares during the period. Alliancebernstein L.P. owned about 2.59% of IDACORP worth $150,742,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of IDACORP by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock valued at $660,786,000 after acquiring an additional 77,230 shares during the period. Wellington Management Group LLP increased its stake in shares of IDACORP by 43.3% in the fourth quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock worth $374,279,000 after purchasing an additional 1,035,133 shares in the last quarter. State Street Corp raised its position in shares of IDACORP by 5.5% during the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company's stock valued at $170,789,000 after purchasing an additional 86,642 shares during the period. Reaves W H & Co. Inc. lifted its stake in shares of IDACORP by 75.4% during the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock valued at $109,103,000 after buying an additional 429,276 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in IDACORP by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company's stock worth $97,981,000 after buying an additional 36,063 shares during the period. Institutional investors own 89.10% of the company's stock.

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IDACORP Price Performance

Shares of NYSE:IDA traded down $5.25 on Friday, reaching $114.47. The company's stock had a trading volume of 536,122 shares, compared to its average volume of 327,159. The company has a 50-day simple moving average of $113.59 and a 200 day simple moving average of $110.68. IDACORP, Inc. has a 52-week low of $88.70 and a 52-week high of $120.84. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The company has a market cap of $6.18 billion, a P/E ratio of 20.89, a PEG ratio of 2.32 and a beta of 0.59.

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, topping the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million for the quarter, compared to analysts' expectations of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. As a group, equities research analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were paid a $0.86 dividend. 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%.

Wall Street Analyst Weigh In

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

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.