Ballentine Partners LLC Makes New Investment in IDACORP, Inc. (NYSE:IDA)

Ballentine Partners LLC purchased a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,860 shares of the energy company's stock, valued at approximately $313,000.

A number of other large investors have also recently bought and sold shares of IDA. Wellington Management Group LLP raised its holdings in shares of IDACORP by 17.7% in the third quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company's stock valued at $246,367,000 after buying an additional 359,553 shares during the last quarter. State Street Corp raised its stake in shares of IDACORP by 5.5% in the third quarter. State Street Corp now owns 1,656,697 shares of the energy company's stock worth $170,789,000 after acquiring an additional 86,642 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of IDACORP by 3.9% during the third quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company's stock worth $97,981,000 after purchasing an additional 36,063 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of IDACORP by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 693,327 shares of the energy company's stock valued at $64,583,000 after purchasing an additional 47,527 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in IDACORP by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company's stock worth $71,368,000 after purchasing an additional 35,651 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wells Fargo & Company boosted their target price on IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Guggenheim raised shares of IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday. Bank of America upgraded IDACORP from a "neutral" rating to a "buy" rating and boosted their price target for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. Morgan Stanley increased their price objective on IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a report on Friday, December 13th. Finally, StockNews.com downgraded IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. One 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 data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $114.60.

IDACORP Price Performance

Shares of NYSE:IDA traded up $0.53 during midday trading on Friday, hitting $109.01. The stock had a trading volume of 256,585 shares, compared to its average volume of 230,994. The company's 50-day moving average price is $112.23 and its 200-day moving average price is $106.03. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $120.42. The company has a market capitalization of $5.81 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 2.21 and a beta of 0.65.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.05). IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The firm had revenue of $528.53 million for the quarter, compared to the consensus estimate of $524.39 million. During the same quarter last year, the firm posted $2.07 earnings per share. As a group, equities research analysts predict that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.16%. IDACORP's dividend payout ratio (DPR) is currently 63.82%.

IDACORP Company 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.