Renaissance Technologies LLC Has $12.11 Million Position in IDACORP, Inc. (NYSE:IDA)

Renaissance Technologies LLC grew its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 27.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,800 shares of the energy company's stock after acquiring an additional 24,100 shares during the quarter. Renaissance Technologies LLC owned 0.21% of IDACORP worth $12,108,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in IDACORP by 43.3% during the fourth quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock worth $374,279,000 after purchasing an additional 1,035,133 shares during the last quarter. Reaves W H & Co. Inc. lifted its position in IDACORP by 75.4% during the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock worth $109,103,000 after buying an additional 429,276 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of IDACORP during the 4th quarter worth about $37,104,000. Vanguard Group Inc. grew its holdings in shares of IDACORP by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock valued at $660,786,000 after acquiring an additional 77,230 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of IDACORP by 14.2% in the fourth quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company's stock valued at $59,509,000 after acquiring an additional 67,568 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on IDA shares. Morgan Stanley increased their price target on IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. UBS Group raised their target price on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Bank of America boosted their price objective on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, IDACORP presently has a consensus rating of "Hold" and an average target price of $120.50.

IDACORP Price Performance

Shares of NYSE IDA traded up $1.20 during mid-day trading on Friday, reaching $119.18. The company had a trading volume of 272,311 shares, compared to its average volume of 328,622. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 2.32 and a beta of 0.56. The business's 50-day simple moving average is $115.09 and its 200 day simple moving average is $111.70. IDACORP, Inc. has a one year low of $90.64 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 released its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The firm had revenue of $398.13 million during the quarter, compared to analysts' expectations of $403.21 million. On average, research analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.89%. IDACORP's payout ratio is 62.77%.

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.