F M Investments LLC Acquires 21,980 Shares of IDACORP, Inc. (NYSE:IDA)

F M Investments LLC lifted its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 39.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,192 shares of the energy company's stock after purchasing an additional 21,980 shares during the quarter. F M Investments LLC owned about 0.15% of IDACORP worth $8,061,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. James Investment Research Inc. increased its position in shares of IDACORP by 11.4% during the 3rd quarter. James Investment Research Inc. now owns 4,208 shares of the energy company's stock worth $434,000 after purchasing an additional 430 shares during the last quarter. US Bancorp DE boosted its position in shares of IDACORP by 4.8% during the third quarter. US Bancorp DE now owns 24,680 shares of the energy company's stock worth $2,544,000 after buying an additional 1,136 shares during the period. New York State Teachers Retirement System boosted its position in shares of IDACORP by 6.1% during the third quarter. New York State Teachers Retirement System now owns 82,016 shares of the energy company's stock worth $8,455,000 after buying an additional 4,723 shares during the period. Vanguard Capital Wealth Advisors purchased a new position in IDACORP during the 3rd quarter valued at about $215,000. Finally, State of Alaska Department of Revenue boosted its stake in shares of IDACORP by 2.0% in the third quarter. State of Alaska Department of Revenue now owns 36,001 shares of the energy company's stock valued at $3,711,000 after purchasing an additional 710 shares during the period. 89.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on IDA shares. Morgan Stanley raised their price target on shares of IDACORP from $102.00 to $108.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th. Bank of America began coverage on shares of IDACORP in a report on Thursday, September 12th. They issued a "neutral" rating and a $110.00 price objective on the stock. StockNews.com raised IDACORP from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. Mizuho upgraded IDACORP from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $102.00 to $116.00 in a report on Friday. Finally, Wells Fargo & Company increased their target price on shares of IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $107.67.

IDACORP Price Performance

Shares of NYSE:IDA traded up $2.37 on Friday, reaching $105.85. 1,243,633 shares of the company were exchanged, compared to its average volume of 234,359. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 0.87. IDACORP, Inc. has a 1-year low of $86.43 and a 1-year high of $109.47. The company has a 50-day moving average of $102.92 and a 200-day moving average of $98.32. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 3.47 and a beta of 0.60.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.05). The business had revenue of $528.53 million during the quarter, compared to analysts' expectations of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.38%. During the same period last year, the company earned $2.07 EPS. Equities analysts forecast that IDACORP, Inc. will post 5.39 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Tuesday, November 5th. This is a positive change from IDACORP's previous quarterly dividend of $0.83. IDACORP's dividend payout ratio (DPR) is 61.60%.

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.