Kentucky Trust Co Acquires Shares of 3,700 IDACORP, Inc. (NYSE:IDA)

Kentucky Trust Co purchased a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,700 shares of the energy company's stock, valued at approximately $404,000.

Other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in shares of IDACORP during the 3rd quarter worth $25,000. V Square Quantitative Management LLC acquired a new position in IDACORP in the 3rd quarter worth about $26,000. MassMutual Private Wealth & Trust FSB increased its holdings in IDACORP by 98.4% in 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 in the last quarter. Versant Capital Management Inc increased its holdings in 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 in the last quarter. Finally, Independence Bank of Kentucky increased its holdings in 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 in the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Jefferies Financial Group lowered their target price on IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a report on Tuesday, January 28th. Morgan Stanley upped their target price on IDACORP from $110.00 to $121.00 and gave the company an "equal weight" rating in a research report on Friday, December 13th. Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Mizuho upgraded IDACORP from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $102.00 to $116.00 in a report on Friday, November 1st. Finally, Bank of America raised IDACORP from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, IDACORP has a consensus rating of "Hold" and an average price target of $116.20.

IDACORP Stock Performance

Shares of IDA traded down $1.83 on Friday, reaching $109.70. 219,169 shares of the company's stock traded hands, compared to its average volume of 280,309. 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 $5.84 billion, a PE ratio of 20.35, a PEG ratio of 2.28 and a beta of 0.65. The stock's 50 day simple moving average is $110.03 and its two-hundred day simple moving average is $107.52. IDACORP, Inc. has a 52-week low of $86.47 and a 52-week high of $120.42.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP's payout ratio is 63.82%.

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.