JPMorgan Chase & Co. Boosts Holdings in IDACORP, Inc. (NYSE:IDA)

JPMorgan Chase & Co. boosted its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 375,522 shares of the energy company's stock after buying an additional 32,122 shares during the period. JPMorgan Chase & Co. owned 0.70% of IDACORP worth $41,037,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its position in shares of IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in IDACORP in the 3rd quarter valued at $25,000. Versant Capital Management Inc boosted its stake in IDACORP by 2,150.0% during 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 grew its position in IDACORP by 123.6% during 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 last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in IDACORP in the third quarter valued at $53,000. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Price Performance

Shares of NYSE:IDA traded up $2.12 on Friday, reaching $117.41. 314,352 shares of the company were exchanged, compared to its average volume of 328,277. The company has a 50-day moving average of $114.28 and a 200-day moving average of $111.20. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56. IDACORP, Inc. has a 1-year low of $88.70 and a 1-year high of $120.84.

Remove Ads

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The firm had revenue of $398.13 million for the quarter, compared to the consensus estimate of $403.21 million. Equities analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 annualized dividend and a yield of 2.93%. IDACORP's dividend payout ratio is presently 62.77%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IDA. UBS Group increased their target price on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Bank of America lifted their target price on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Morgan Stanley increased their price target on IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. Finally, Guggenheim raised shares of IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, IDACORP has an average rating of "Hold" and a consensus target price of $120.50.

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.