Atala Financial Inc Makes New Investment in IDACORP, Inc. (NYSE:IDA)

Atala Financial Inc acquired a new position in IDACORP, Inc. (NYSE:IDA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,461 shares of the energy company's stock, valued at approximately $269,000.

A number of other large investors have also recently made changes to their positions in IDA. M&T Bank Corp lifted its stake in IDACORP by 0.8% in the third 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 period. 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 in the last quarter. CENTRAL TRUST Co lifted its position in shares of IDACORP by 13.7% in the 4th quarter. CENTRAL TRUST Co now owns 832 shares of the energy company's stock worth $91,000 after purchasing an additional 100 shares during the period. Pitcairn Co. lifted its position in shares of IDACORP by 2.3% in the 3rd quarter. Pitcairn Co. now owns 4,801 shares of the energy company's stock worth $495,000 after purchasing an additional 107 shares during the period. Finally, Perigon Wealth Management LLC boosted its stake in shares of IDACORP by 4.1% during the 4th 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 in the last quarter. 89.10% of the stock is currently owned by institutional investors.

IDACORP Stock Performance

Shares of NYSE IDA traded down $0.12 during midday trading on Tuesday, hitting $115.82. 191,380 shares of the stock traded hands, compared to its average volume of 317,292. 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, Inc. has a one year low of $88.70 and a one year high of $120.42. The firm has a market capitalization of $6.25 billion, a P/E ratio of 21.13, a PEG ratio of 2.32 and a beta of 0.59. The firm has a 50-day moving average of $111.69 and a two-hundred day moving average of $109.52.

Remove Ads

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 9.23% and a net margin of 15.83%. On average, equities analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were given a dividend of $0.86 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 annualized dividend and a yield of 2.97%. IDACORP's dividend payout ratio (DPR) is 62.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IDA shares. Morgan Stanley upped their price target on IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Friday, December 13th. Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Bank of America increased their target price on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Finally, Jefferies Financial Group decreased their price target on IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, IDACORP has a consensus rating of "Hold" and an average price target of $118.20.

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.