National Bank of Canada FI Invests $1.78 Million in IDACORP, Inc. (NYSE:IDA)

National Bank of Canada FI purchased a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 16,300 shares of the energy company's stock, valued at approximately $1,781,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IDA. M&T Bank Corp boosted its stake in IDACORP by 0.8% in the 3rd quarter. M&T Bank Corp now owns 10,992 shares of the energy company's stock worth $1,133,000 after purchasing an additional 92 shares during the period. AMG National Trust Bank boosted its position in shares of IDACORP by 0.6% during the fourth quarter. AMG National Trust Bank now owns 15,248 shares of the energy company's stock worth $1,670,000 after buying an additional 98 shares during the period. CENTRAL TRUST Co grew its holdings in shares of IDACORP by 13.7% during the fourth quarter. CENTRAL TRUST Co now owns 832 shares of the energy company's stock worth $91,000 after buying an additional 100 shares in the last quarter. Perigon Wealth Management LLC raised its position in IDACORP by 4.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company's stock valued at $311,000 after buying an additional 112 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its position in IDACORP by 4.4% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,720 shares of the energy company's stock worth $303,000 after acquiring an additional 115 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

IDACORP Stock Performance

Shares of IDA stock traded up $1.66 during trading on Monday, reaching $119.04. 17,544 shares of the company's stock were exchanged, compared to its average volume of 327,113. The firm's fifty day moving average price is $114.28 and its 200-day moving average price is $111.26. IDACORP, Inc. has a twelve month low of $88.70 and a twelve month high of $120.84. The stock has a market capitalization of $6.43 billion, a PE ratio of 21.72, a PEG ratio of 2.32 and a beta of 0.56. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

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IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. The company 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, sell-side analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Wednesday, February 5th. IDACORP's dividend payout ratio is currently 62.77%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IDA shares. Morgan Stanley boosted their price objective 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. UBS Group raised their price objective on IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Bank of America upped their price objective on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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.