Allspring Global Investments Holdings LLC Grows Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Allspring Global Investments Holdings LLC boosted its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 3,692.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,655 shares of the energy company's stock after buying an additional 62,950 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.12% of IDACORP worth $7,014,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its holdings in shares of IDACORP by 17.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company's stock valued at $246,367,000 after purchasing an additional 359,553 shares in the last quarter. State Street Corp raised its holdings in shares of IDACORP by 5.5% in 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of IDACORP by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company's stock valued at $97,981,000 after purchasing an additional 36,063 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of IDACORP by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company's stock valued at $71,368,000 after purchasing an additional 35,651 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of IDACORP in the 3rd quarter valued at about $3,228,000. Institutional investors own 89.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on IDA shares. Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Mizuho upgraded shares of IDACORP from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $102.00 to $116.00 in a research note on Friday, November 1st. Jefferies Financial Group reduced their price objective on shares of IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. StockNews.com lowered shares of IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley boosted their price objective on shares of IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $116.20.

IDACORP Stock Performance

NYSE:IDA traded up $1.07 during trading hours on Friday, hitting $113.79. 154,244 shares of the company were exchanged, compared to its average volume of 284,271. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 2.29 and a beta of 0.65. IDACORP, Inc. has a 52-week low of $86.47 and a 52-week high of $120.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The company's 50 day moving average price is $109.88 and its 200-day moving average price is $107.81.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results 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 the consensus estimate of $403.21 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. As a group, research analysts forecast that IDACORP, Inc. will post 5.41 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 3.02%. The ex-dividend date is Wednesday, February 5th. IDACORP's dividend payout ratio is presently 63.82%.

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.