Swiss National Bank Grows Holdings in IDACORP, Inc. (NYSE:IDA)

Swiss National Bank lifted its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 5.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,700 shares of the energy company's stock after buying an additional 5,700 shares during the period. Swiss National Bank owned approximately 0.20% of IDACORP worth $11,442,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IDA shares. Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Jefferies Financial Group decreased their price objective on IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. UBS Group upped their price objective on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a report on Friday. Bank of America lifted their target price 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. Finally, Morgan Stanley upped their price target on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, IDACORP currently has an average rating of "Hold" and an average target price of $120.50.

Remove Ads

IDACORP Price Performance

Shares of IDA traded down $0.04 during midday trading on Monday, hitting $114.20. 296,325 shares of the company traded hands, compared to its average volume of 315,570. IDACORP, Inc. has a one year low of $88.70 and a one year high of $120.42. The firm has a market cap of $6.16 billion, a P/E ratio of 20.84, a PEG ratio of 2.32 and a beta of 0.59. 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 stock has a 50-day moving average of $112.22 and a 200-day moving average of $109.88.

IDACORP (NYSE:IDA - Get Free Report) last posted its 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. The business had revenue of $398.13 million for the quarter, compared to analysts' expectations of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. As a group, sell-side analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were issued a $0.86 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 3.01%. IDACORP's payout ratio is currently 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.