Charles Schwab Investment Management Inc. boosted its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 699,579 shares of the energy company's stock after acquiring an additional 7,286 shares during the period. Charles Schwab Investment Management Inc. owned 1.31% of IDACORP worth $76,450,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of IDA. Wellington Management Group LLP boosted its position in shares of IDACORP by 17.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company's stock valued at $246,367,000 after acquiring an additional 359,553 shares during the last quarter. State Street Corp increased its holdings in shares of IDACORP by 5.5% in the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company's stock worth $170,789,000 after buying an additional 86,642 shares during the last quarter. Reaves W H & Co. Inc. raised its position in shares of IDACORP by 75.4% during the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock valued at $109,103,000 after buying an additional 429,276 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of IDACORP by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company's stock worth $97,981,000 after acquiring an additional 36,063 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in IDACORP by 14.2% in the fourth quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company's stock worth $59,509,000 after acquiring an additional 67,568 shares in the last quarter. Institutional investors own 89.10% of the company's stock.
IDACORP Trading Up 0.9 %
IDA stock traded up $0.99 during trading on Friday, reaching $116.05. The company had a trading volume of 261,551 shares, compared to its average volume of 311,915. IDACORP, Inc. has a 52 week low of $88.70 and a 52 week high of $120.42. The company has a market cap of $6.26 billion, a P/E ratio of 21.18, a PEG ratio of 2.32 and a beta of 0.59. The business has a 50 day moving average of $111.38 and a 200 day moving average of $109.20. 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 issued its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The company had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. As a group, sell-side analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.
IDACORP Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP's payout ratio is 62.77%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on IDA. Guggenheim raised IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Bank of America increased their target price on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Morgan Stanley boosted their price target on shares of IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Friday, December 13th. Finally, Jefferies Financial Group dropped their price objective on IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, IDACORP has a consensus rating of "Hold" and an average price target of $118.20.
Check Out Our Latest Stock Report on IDACORP
About IDACORP
(
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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