Bank of New York Mellon Corp Purchases 21,435 Shares of IDACORP, Inc. (NYSE:IDA)

Bank of New York Mellon Corp lifted its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 4.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 521,189 shares of the energy company's stock after buying an additional 21,435 shares during the quarter. Bank of New York Mellon Corp owned about 0.98% of IDACORP worth $56,956,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of IDACORP during the fourth quarter worth $882,000. Wealthspire Advisors LLC bought a new position in shares of IDACORP in the fourth quarter worth $316,000. Redmond Asset Management LLC bought a new position in shares of IDACORP in the fourth quarter worth $223,000. ING Groep NV bought a new position in shares of IDACORP in the fourth quarter worth $3,147,000. Finally, RW Investment Management LLC increased its position in shares of IDACORP by 7.2% in the fourth quarter. RW Investment Management LLC now owns 13,888 shares of the energy company's stock worth $1,518,000 after purchasing an additional 938 shares during the period. Institutional investors and hedge funds own 89.10% of the company's stock.

IDACORP Trading Up 0.6 %

Shares of NYSE:IDA traded up $0.71 during midday trading on Friday, hitting $113.14. 424,464 shares of the stock were exchanged, compared to its average volume of 310,824. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 2.32 and a beta of 0.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The business's 50-day moving average price is $110.83 and its 200 day moving average price is $108.77. IDACORP, Inc. has a 12 month low of $88.67 and a 12 month high of $120.42.

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IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly 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 firm had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. Analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP's dividend payout ratio (DPR) is presently 62.77%.

Analyst Ratings Changes

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

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.