BNP Paribas Financial Markets Increases Holdings in IDACORP, Inc. (NYSE:IDA)

BNP Paribas Financial Markets lifted its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 545.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,974 shares of the energy company's stock after acquiring an additional 12,653 shares during the quarter. BNP Paribas Financial Markets' holdings in IDACORP were worth $1,544,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IDA. V Square Quantitative Management LLC acquired a new stake in shares of IDACORP in the third quarter valued at about $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of IDACORP in the 2nd quarter valued at about $35,000. Avior Wealth Management LLC raised its stake in IDACORP by 35.9% during the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company's stock worth $46,000 after buying an additional 117 shares during the period. Eastern Bank bought a new position in shares of IDACORP in the 3rd quarter worth $52,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of IDACORP in the second quarter valued at $71,000. Institutional investors own 89.10% of the company's stock.

IDACORP Stock Performance

Shares of NYSE:IDA traded down $1.59 during midday trading on Monday, hitting $113.53. The company had a trading volume of 314,276 shares, compared to its average volume of 346,785. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $120.42. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 2.56 and a beta of 0.64. The company has a fifty day moving average of $109.58 and a two-hundred day moving average of $101.89. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34.

IDACORP (NYSE:IDA - Get Free Report) last issued 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 business had revenue of $528.53 million during the quarter, compared to analysts' expectations 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 previous year, the business earned $2.07 earnings per share. On average, equities research analysts expect that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.86 per share. This is a positive change from IDACORP's previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.03%. IDACORP's dividend payout ratio is presently 63.82%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IDA. Jefferies Financial Group began coverage on IDACORP in a report on Friday, September 20th. They set a "hold" rating and a $110.00 price target for the company. StockNews.com lowered shares of IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. Bank of America upgraded shares of IDACORP from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. Morgan Stanley increased their price objective on IDACORP from $102.00 to $108.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. Finally, Mizuho raised IDACORP from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $102.00 to $116.00 in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $108.83.

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.