GSA Capital Partners LLP Makes New Investment in IDACORP, Inc. (NYSE:IDA)

GSA Capital Partners LLP bought a new position in IDACORP, Inc. (NYSE:IDA - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 31,311 shares of the energy company's stock, valued at approximately $3,228,000. IDACORP accounts for approximately 0.2% of GSA Capital Partners LLP's investment portfolio, making the stock its 27th biggest holding. GSA Capital Partners LLP owned approximately 0.06% of IDACORP as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in IDACORP in the 3rd quarter worth about $26,000. Rise Advisors LLC raised its stake in IDACORP by 65.8% in the second quarter. Rise Advisors LLC now owns 368 shares of the energy company's stock valued at $34,000 after purchasing an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in IDACORP during the second quarter valued at approximately $35,000. Eastern Bank purchased a new stake in shares of IDACORP during the 3rd quarter valued at $52,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of IDACORP during the 2nd quarter worth $71,000. 89.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

IDACORP Trading Up 1.2 %

Shares of NYSE IDA traded up $1.36 during trading hours on Tuesday, hitting $118.37. The company's stock had a trading volume of 528,820 shares, compared to its average volume of 349,879. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $119.26. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 2.53 and a beta of 0.60. 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 has a 50-day simple moving average of $104.13 and a 200-day simple moving average of $99.12.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $528.53 million during the quarter, compared to the consensus estimate of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same quarter in the prior year, the business posted $2.07 earnings per share. On average, analysts anticipate that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.91%. This is a boost from IDACORP's previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, November 5th. IDACORP's dividend payout ratio (DPR) is currently 63.82%.

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.