Assenagon Asset Management S.A. Takes $913,000 Position in IDACORP, Inc. (NYSE:IDA)

Assenagon Asset Management S.A. acquired a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,352 shares of the energy company's stock, valued at approximately $913,000.

Several other hedge funds have also added to or reduced their stakes in IDA. M&T Bank Corp boosted its position in shares of IDACORP by 0.8% in the third quarter. M&T Bank Corp now owns 10,992 shares of the energy company's stock valued at $1,133,000 after acquiring an additional 92 shares during the period. Trust Point Inc. grew its position in shares of IDACORP by 1.4% during the 3rd quarter. Trust Point Inc. now owns 7,374 shares of the energy company's stock worth $760,000 after purchasing an additional 101 shares in the last quarter. Blue Trust Inc. grew its position in shares of IDACORP by 7.5% during the 3rd quarter. Blue Trust Inc. now owns 1,523 shares of the energy company's stock worth $157,000 after purchasing an additional 106 shares in the last quarter. Pitcairn Co. raised its position in shares of IDACORP by 2.3% in the third quarter. Pitcairn Co. now owns 4,801 shares of the energy company's stock valued at $495,000 after buying an additional 107 shares in the last quarter. Finally, Avior Wealth Management LLC raised its holdings in IDACORP by 35.9% in the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company's stock valued at $46,000 after acquiring an additional 117 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Mizuho raised IDACORP from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Morgan Stanley upped their price target on shares of IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a report on Friday, December 13th. Wells Fargo & Company lifted their price objective on shares of IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Bank of America raised IDACORP from a "neutral" rating to a "buy" rating and raised their target price for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. Finally, StockNews.com downgraded IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, IDACORP currently has an average rating of "Hold" and an average price target of $114.60.

IDACORP Trading Up 0.5 %

Shares of NYSE:IDA traded up $0.53 during mid-day trading on Friday, reaching $109.01. 256,585 shares of the company's stock were exchanged, compared to its average volume of 230,994. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.21 and a beta of 0.65. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $120.42. The business's fifty day moving average price is $112.23 and its 200-day moving average price is $105.93. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70.

IDACORP (NYSE:IDA - Get Free Report) last posted 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). The company had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same period in the prior year, the firm earned $2.07 earnings per share. On average, research analysts predict that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Wednesday, February 5th. IDACORP's payout ratio is 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.