LPL Financial LLC Grows Position in IDACORP, Inc. (NYSE:IDA)

LPL Financial LLC raised its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 38.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,821 shares of the energy company's stock after acquiring an additional 7,985 shares during the quarter. LPL Financial LLC owned approximately 0.05% of IDACORP worth $3,150,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its holdings in IDACORP by 5.5% in the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company's stock valued at $170,789,000 after acquiring an additional 86,642 shares during the last quarter. Reaves W H & Co. Inc. grew its position in shares of IDACORP by 75.4% in the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock valued at $109,103,000 after purchasing an additional 429,276 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of IDACORP by 3.9% in the third quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company's stock valued at $97,981,000 after purchasing an additional 36,063 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in IDACORP by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,579 shares of the energy company's stock worth $76,450,000 after buying an additional 7,286 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in IDACORP by 14.2% during the fourth quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company's stock worth $59,509,000 after buying an additional 67,568 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

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Wall Street Analysts Forecast Growth

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

IDACORP Trading Up 0.2 %

NYSE:IDA traded up $0.23 on Tuesday, reaching $119.51. 374,548 shares of the company's stock were exchanged, compared to its average volume of 328,948. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56. IDACORP, Inc. has a 52-week low of $88.70 and a 52-week high of $120.84. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The business has a fifty day moving average of $114.45 and a 200-day moving average of $111.37.

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

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP's dividend payout ratio is currently 62.77%.

IDACORP Company 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.