Arrien Investments Inc. Invests $293,000 in IDACORP, Inc. (NYSE:IDA)

Arrien Investments Inc. acquired a new position in IDACORP, Inc. (NYSE:IDA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,668 shares of the energy company's stock, valued at approximately $293,000.

A number of other hedge funds also recently bought and sold shares of IDA. M&T Bank Corp boosted its stake in shares of IDACORP by 0.8% during the 3rd quarter. M&T Bank Corp now owns 10,992 shares of the energy company's stock worth $1,133,000 after acquiring an additional 92 shares during the last quarter. AMG National Trust Bank raised its holdings in IDACORP by 0.6% in the 4th quarter. AMG National Trust Bank now owns 15,248 shares of the energy company's stock worth $1,670,000 after purchasing an additional 98 shares during the period. CENTRAL TRUST Co lifted its position in IDACORP by 13.7% during the fourth quarter. CENTRAL TRUST Co now owns 832 shares of the energy company's stock valued at $91,000 after purchasing an additional 100 shares in the last quarter. Pitcairn Co. lifted its position in IDACORP by 2.3% during the third quarter. Pitcairn Co. now owns 4,801 shares of the energy company's stock valued at $495,000 after purchasing an additional 107 shares in the last quarter. Finally, Perigon Wealth Management LLC grew its holdings in IDACORP by 4.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company's stock valued at $311,000 after purchasing an additional 112 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Trading Down 1.6 %

Shares of IDA stock traded down $1.90 during trading hours on Friday, reaching $114.32. 587,094 shares of the stock were exchanged, compared to its average volume of 315,240. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a 12-month low of $88.70 and a 12-month high of $120.42. The company's 50-day moving average price is $112.07 and its 200-day moving average price is $109.71. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93.

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IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The business had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. As a group, equities analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.01%. IDACORP's payout ratio is 62.77%.

Wall Street Analyst Weigh In

Several research firms have recently commented on IDA. Guggenheim raised IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. UBS Group raised their target price on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research note on Friday. Jefferies Financial Group lowered their price objective on IDACORP from $129.00 to $118.00 and set a "hold" rating on the stock in a research report on Tuesday, January 28th. Bank of America upped their price target on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Finally, Morgan Stanley lifted their price objective on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, IDACORP presently has an average rating of "Hold" and a consensus target price of $120.50.

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.