Inceptionr LLC Invests $1.45 Million in IDACORP, Inc. (NYSE:IDA)

Inceptionr LLC purchased a new stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,264 shares of the energy company's stock, valued at approximately $1,449,000.

Several other hedge funds have also made changes to their positions in the company. M&T Bank Corp grew its position in IDACORP by 0.8% during the 3rd quarter. M&T Bank Corp now owns 10,992 shares of the energy company's stock worth $1,133,000 after purchasing an additional 92 shares in the last quarter. CENTRAL TRUST Co raised its position in IDACORP by 13.7% during the fourth quarter. CENTRAL TRUST Co now owns 832 shares of the energy company's stock valued at $91,000 after buying an additional 100 shares during the period. Pitcairn Co. lifted its stake in IDACORP by 2.3% in the 3rd quarter. Pitcairn Co. now owns 4,801 shares of the energy company's stock worth $495,000 after acquiring an additional 107 shares in the last quarter. Perigon Wealth Management LLC boosted its position in IDACORP by 4.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company's stock worth $311,000 after acquiring an additional 112 shares during the period. Finally, Avior Wealth Management LLC boosted its position in IDACORP by 35.9% during the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company's stock worth $46,000 after acquiring an additional 117 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Stock Up 1.6 %

Shares of IDA traded up $1.81 during mid-day trading on Monday, hitting $115.00. 331,798 shares of the company's stock were exchanged, compared to its average volume of 311,289. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a twelve month low of $88.70 and a twelve month high of $120.42. The firm has a fifty day moving average of $110.90 and a two-hundred day moving average of $108.93. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 2.32 and a beta of 0.59.

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IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, beating 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 company had revenue of $398.13 million for the quarter, compared to the consensus estimate of $403.21 million. On average, sell-side analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Wednesday, February 5th. IDACORP's dividend payout ratio (DPR) is 62.77%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group reduced their price target on shares of IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. Morgan Stanley increased their target price on shares of IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Friday, December 13th. Guggenheim raised shares of IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Bank of America upped their price target 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 issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $118.20.

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.