Jump Financial LLC reduced its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 62.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,870 shares of the energy company's stock after selling 4,830 shares during the quarter. Jump Financial LLC's holdings in IDACORP were worth $314,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. Bridgewater Associates LP purchased a new position in IDACORP in the fourth quarter valued at about $7,547,000. AGP Franklin LLC purchased a new position in IDACORP in the fourth quarter valued at approximately $338,000. Guggenheim Capital LLC grew its holdings in IDACORP by 21.3% during the fourth quarter. Guggenheim Capital LLC now owns 19,665 shares of the energy company's stock valued at $2,149,000 after purchasing an additional 3,459 shares during the period. Barclays PLC grew its holdings in IDACORP by 53.0% during the fourth quarter. Barclays PLC now owns 41,584 shares of the energy company's stock valued at $4,545,000 after purchasing an additional 14,400 shares during the period. Finally, Townsquare Capital LLC raised its stake in shares of IDACORP by 9.8% in the fourth quarter. Townsquare Capital LLC now owns 3,519 shares of the energy company's stock valued at $385,000 after buying an additional 315 shares during the period. Institutional investors own 89.10% of the company's stock.
IDACORP Price Performance
Shares of NYSE:IDA opened at $116.47 on Friday. IDACORP, Inc. has a 12 month low of $90.64 and a 12 month high of $120.84. 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 stock has a market cap of $6.29 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.32 and a beta of 0.56. The company has a 50 day moving average of $115.73 and a 200 day moving average of $112.30.
IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $403.21 million. As a group, sell-side analysts forecast 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 will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be issued a $0.86 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.95%. IDACORP's payout ratio is currently 62.77%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. StockNews.com raised shares of IDACORP from a "sell" rating to a "hold" rating in a research report on Tuesday, April 22nd. Bank of America raised their price objective on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Finally, UBS Group boosted their target price on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, IDACORP has a consensus rating of "Moderate Buy" and a consensus price target of $120.50.
Check Out Our Latest Stock Analysis on IDACORP
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.
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