Magellan Asset Management Ltd decreased its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 20.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,454 shares of the energy company's stock after selling 9,530 shares during the quarter. Magellan Asset Management Ltd owned approximately 0.07% of IDACORP worth $4,093,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in IDACORP in the third quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB increased 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 in the last quarter. Versant Capital Management Inc raised its holdings in shares of IDACORP by 2,150.0% during 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 period. Independence Bank of Kentucky boosted its stake 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 during the period. Finally, Proficio Capital Partners LLC bought a new position in IDACORP during the 4th quarter worth about $45,000. Institutional investors and hedge funds own 89.10% of the company's stock.
IDACORP Trading Up 1.1 %
IDACORP stock traded up $1.30 during mid-day trading on Tuesday, hitting $115.05. 150,234 shares of the stock were exchanged, compared to its average volume of 327,983. The firm's fifty day simple moving average is $113.68 and its two-hundred day simple moving average is $110.81. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a 12 month low of $88.70 and a 12 month high of $120.84. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.32 and a beta of 0.56.
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 the consensus estimate 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 analyst estimates of $403.21 million. Analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.
IDACORP Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were given a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP's dividend payout ratio is 62.77%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on IDA shares. Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. Bank of America increased their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. 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 note on Friday, March 21st. Morgan Stanley boosted their price target on shares of IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Finally, Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, IDACORP presently has an average rating of "Hold" and a consensus price target of $120.50.
Get 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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