14,414 Shares in IDACORP, Inc. (NYSE:IDA) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,414 shares of the energy company's stock, valued at approximately $1,486,000.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in IDACORP in the 3rd quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of IDACORP in the second quarter valued at $35,000. Avior Wealth Management LLC boosted its holdings in IDACORP by 35.9% in the third quarter. Avior Wealth Management LLC now owns 443 shares of the energy company's stock valued at $46,000 after purchasing an additional 117 shares during the period. Eastern Bank acquired a new position in IDACORP during the 3rd quarter worth $52,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in IDACORP during the 2nd quarter worth about $71,000. Institutional investors and hedge funds own 89.10% of the company's stock.

Analyst Ratings Changes

IDA has been the subject of several recent research reports. Wells Fargo & Company lifted their price objective on IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Morgan Stanley lifted their price target on shares of IDACORP from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. StockNews.com cut shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Bank of America upgraded shares of IDACORP from a "neutral" rating to a "buy" rating and raised their price objective for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. Finally, Mizuho raised shares of IDACORP from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $108.83.

IDACORP Stock Up 0.1 %

IDA stock traded up $0.07 during midday trading on Wednesday, reaching $112.96. 409,780 shares of the company were exchanged, compared to its average volume of 346,655. The stock's 50-day simple moving average is $110.18 and its 200 day simple moving average is $102.22. IDACORP, Inc. has a 1-year low of $86.43 and a 1-year high of $120.42. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 2.56 and a beta of 0.64.

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 for the quarter, missing analysts' consensus estimates of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The company had revenue of $528.53 million during the quarter, compared to analysts' expectations of $524.39 million. During the same period last year, the firm earned $2.07 earnings per share. On average, equities analysts forecast that IDACORP, Inc. will post 5.41 earnings per share for the current year.

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 5th were given a $0.86 dividend. The ex-dividend date was Tuesday, November 5th. This is a boost from IDACORP's previous quarterly dividend of $0.83. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.05%. IDACORP's dividend payout ratio is 63.82%.

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.