BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 11.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 190,927 shares of the energy company's stock after acquiring an additional 19,770 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.36% of IDACORP worth $19,683,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in IDA. V Square Quantitative Management LLC purchased a new stake in shares of IDACORP during the 3rd quarter worth approximately $26,000. Rise Advisors LLC lifted its stake in IDACORP by 65.8% in the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company's stock valued at $34,000 after buying an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in IDACORP in the 2nd quarter valued at $35,000. Avior Wealth Management LLC raised its holdings in IDACORP by 35.9% in the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company's stock valued at $46,000 after acquiring an additional 117 shares during the last quarter. Finally, Eastern Bank acquired a new stake in shares of IDACORP during the 3rd quarter worth $52,000. Institutional investors and hedge funds own 89.10% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Jefferies Financial Group assumed coverage on IDACORP in a report on Friday, September 20th. They set a "hold" rating and a $110.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Morgan Stanley upped their price objective on shares of IDACORP from $102.00 to $108.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th. Bank of America raised shares of IDACORP from a "neutral" rating to a "buy" rating and increased their price target for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. Finally, StockNews.com cut shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, IDACORP currently has a consensus rating of "Hold" and a consensus price target of $108.83.
Read Our Latest Stock Report on IDA
IDACORP Price Performance
Shares of IDACORP stock traded up $0.11 during trading on Friday, hitting $118.91. 415,164 shares of the company's stock traded hands, compared to its average volume of 449,668. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The firm's fifty day moving average price is $106.71 and its 200 day moving average price is $100.48. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $120.02. The company has a market cap of $6.33 billion, a PE ratio of 22.06, a PEG ratio of 2.64 and a beta of 0.60.
IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.05). The company had revenue of $528.53 million for the quarter, compared to the consensus estimate of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same period last year, the company earned $2.07 earnings per share. Analysts forecast that IDACORP, Inc. will post 5.42 earnings per share for the current year.
IDACORP Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be given a $0.86 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.89%. This is an increase from IDACORP's previous quarterly dividend of $0.83. IDACORP's dividend payout ratio (DPR) is 63.82%.
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.
Further Reading
Before you consider IDACORP, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IDACORP wasn't on the list.
While IDACORP currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
