Charles Schwab Investment Management Inc. Purchases 35,651 Shares of IDACORP, Inc. (NYSE:IDA)

Charles Schwab Investment Management Inc. raised its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 5.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 692,293 shares of the energy company's stock after acquiring an additional 35,651 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.30% of IDACORP worth $71,368,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in IDACORP during the 3rd quarter worth $26,000. Rise Advisors LLC grew its holdings in shares of IDACORP by 65.8% during the second quarter. Rise Advisors LLC now owns 368 shares of the energy company's stock worth $34,000 after purchasing an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of IDACORP in the second quarter valued at approximately $35,000. 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 buying an additional 117 shares during the last quarter. Finally, Eastern Bank bought a new position in IDACORP in the 3rd quarter valued at approximately $52,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

IDACORP Stock Down 0.2 %

Shares of NYSE IDA traded down $0.20 during trading on Friday, hitting $118.54. 130,152 shares of the company traded hands, compared to its average volume of 349,273. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 2.64 and a beta of 0.60. The business's fifty day moving average is $107.92 and its 200 day moving average is $101.07. 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 fifty-two week low of $86.43 and a fifty-two week high of $120.42.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates of $2.17 by ($0.05). The firm had revenue of $528.53 million for 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 last year, the company posted $2.07 earnings per share. Equities research analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.86 per share. This is an increase from IDACORP's previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.90%. IDACORP's dividend payout ratio is presently 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.