ING Groep NV Purchases Shares of 28,800 IDACORP, Inc. (NYSE:IDA)

ING Groep NV acquired a new stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 28,800 shares of the energy company's stock, valued at approximately $3,147,000. ING Groep NV owned approximately 0.05% of IDACORP as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in IDACORP in the 3rd quarter worth about $25,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of IDACORP by 98.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock valued at $26,000 after acquiring an additional 120 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock worth $34,000 after acquiring an additional 301 shares during the last quarter. Independence Bank of Kentucky increased its position in shares of IDACORP by 123.6% during the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock worth $44,000 after purchasing an additional 225 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its stake 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 purchasing an additional 117 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

Wall Street Analyst Weigh In

IDA has been the subject of a number of recent research reports. Jefferies Financial Group reduced their target price 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. StockNews.com downgraded shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Morgan Stanley boosted their target price on IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a report on Friday, December 13th. Guggenheim raised IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Finally, Mizuho upgraded IDACORP from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $116.20.

IDACORP Trading Up 0.5 %

Shares of NYSE IDA traded up $0.58 during midday trading on Tuesday, reaching $114.90. 5,170 shares of the stock were exchanged, compared to its average volume of 284,963. The stock has a market capitalization of $6.12 billion, a P/E ratio of 20.91, a PEG ratio of 2.32 and a beta of 0.65. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The company has a 50 day simple moving average of $109.92 and a 200 day simple moving average of $108.09. IDACORP, Inc. has a twelve month low of $86.47 and a twelve month high of $120.42.

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. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The company had revenue of $398.13 million during the quarter, compared to analysts' expectations of $403.21 million. As a group, equities analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be given a $0.86 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.99%. 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.