Geode Capital Management LLC boosted its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 954,035 shares of the energy company's stock after purchasing an additional 3,829 shares during the period. Geode Capital Management LLC owned about 1.79% of IDACORP worth $104,288,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Diversified Trust Co bought a new stake in IDACORP during the 4th quarter worth approximately $704,000. Assenagon Asset Management S.A. bought a new stake in shares of IDACORP during the 4th quarter valued at $913,000. JPMorgan Chase & Co. lifted its stake in shares of IDACORP by 7.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 343,400 shares of the energy company's stock valued at $35,401,000 after buying an additional 22,485 shares in the last quarter. Apollon Wealth Management LLC bought a new position in IDACORP in the 4th quarter worth $213,000. Finally, Van ECK Associates Corp increased its stake in IDACORP by 14.2% in the 4th quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company's stock worth $1,809,000 after buying an additional 2,056 shares in the last quarter. Institutional investors own 89.10% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on IDA shares. Guggenheim raised IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Morgan Stanley lifted their price objective on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. Bank of America upped their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. UBS Group boosted their price target on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Finally, Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given 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 $120.50.
Read Our Latest Stock Report on IDACORP
IDACORP Trading Up 0.8 %
NYSE IDA traded up $0.92 during trading on Tuesday, hitting $120.20. The stock had a trading volume of 58,258 shares, compared to its average volume of 327,733. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 21.98, a P/E/G ratio of 2.32 and a beta of 0.56. The stock has a 50 day simple moving average of $114.45 and a 200 day simple moving average of $111.37. IDACORP, Inc. has a one year low of $88.70 and a one year high of $120.84. 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 (NYSE:IDA - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million for the quarter, compared to the consensus estimate of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. Sell-side 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. Stockholders of record on Wednesday, February 5th were issued a $0.86 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.86%. IDACORP's dividend payout ratio is currently 62.77%.
IDACORP Company Profile
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Free Report)
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.
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