Hartree Partners LP Acquires New Shares in IDACORP, Inc. (NYSE:IDA)

Hartree Partners LP acquired a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,600 shares of the energy company's stock, valued at approximately $940,000.

Several other hedge funds also recently added to or reduced their stakes in IDA. Legacy Investment Solutions LLC acquired a new stake in shares of IDACORP during the third quarter worth about $25,000. MassMutual Private Wealth & Trust FSB increased its position in shares of IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock worth $26,000 after acquiring an additional 120 shares during the period. Versant Capital Management Inc grew its holdings in IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock worth $34,000 after acquiring an additional 301 shares in the last quarter. Independence Bank of Kentucky lifted its position in shares of IDACORP by 123.6% during the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock worth $44,000 after purchasing an additional 225 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in IDACORP in the fourth quarter valued at approximately $45,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Guggenheim raised shares of IDACORP from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday. Morgan Stanley boosted their target price on IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. UBS Group increased their target price on IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Finally, Bank of America raised their price objective on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $120.50.

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IDACORP Price Performance

NYSE:IDA traded up $1.33 during trading hours on Thursday, reaching $120.41. 138,214 shares of the company traded hands, compared to its average volume of 325,716. IDACORP, Inc. has a 1-year low of $88.70 and a 1-year high of $120.75. The stock has a market cap of $6.50 billion, a P/E ratio of 21.97, a P/E/G ratio of 2.32 and a beta of 0.59. The firm's 50-day moving average is $113.26 and its 200-day moving average is $110.49. 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 announced its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. The firm had revenue of $398.13 million during 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%. Equities research analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were given a $0.86 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.86%. IDACORP's payout ratio is currently 62.77%.

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.