Connor Clark & Lunn Investment Management Ltd. Acquires 19,274 Shares of IDACORP, Inc. (NYSE:IDA)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 67.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,707 shares of the energy company's stock after purchasing an additional 19,274 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of IDACORP worth $4,918,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in IDACORP during the 3rd quarter worth $26,000. Rise Advisors LLC boosted its position in IDACORP by 65.8% in the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company's stock valued at $34,000 after buying an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in IDACORP in the 2nd quarter valued at about $35,000. Avior Wealth Management LLC boosted its position 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 purchased a new position in IDACORP in the 3rd quarter valued at about $52,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Stock Performance

IDA traded up $0.11 on Friday, hitting $118.91. 415,164 shares of the company's stock were exchanged, compared to its average volume of 449,668. The firm has a market cap of $6.33 billion, a PE ratio of 22.06, a P/E/G ratio of 2.64 and a beta of 0.60. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $120.02. The stock has a fifty day moving average of $106.71 and a two-hundred day moving average of $100.53. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings data 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 business had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. During the same quarter last year, the company earned $2.07 EPS. On average, research analysts anticipate that IDACORP, Inc. will post 5.42 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be given a $0.86 dividend. This is a boost from IDACORP's previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $3.44 annualized dividend and a yield of 2.89%. IDACORP's dividend payout ratio is 63.82%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IDA. Wells Fargo & Company upped their price objective on shares of IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Mizuho raised shares of IDACORP from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $102.00 to $116.00 in a research report on Friday, November 1st. Bank of America raised shares of IDACORP from a "neutral" rating to a "buy" rating and upped their price objective for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. StockNews.com lowered shares of IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group began coverage on shares of IDACORP in a research note on Friday, September 20th. They issued a "hold" rating and a $110.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $108.83.

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.