Proficio Capital Partners LLC Takes Position in IDACORP, Inc. (NYSE:IDA)

Proficio Capital Partners LLC acquired a new position in IDACORP, Inc. (NYSE:IDA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 44,648 shares of the energy company's stock, valued at approximately $45,000. Proficio Capital Partners LLC owned approximately 0.08% of IDACORP as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP grew its holdings in IDACORP by 17.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company's stock worth $246,367,000 after acquiring an additional 359,553 shares during the last quarter. State Street Corp lifted its position in shares of IDACORP by 5.5% during the third quarter. State Street Corp now owns 1,656,697 shares of the energy company's stock worth $170,789,000 after purchasing an additional 86,642 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of IDACORP by 14.2% during the fourth quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company's stock valued at $59,509,000 after purchasing an additional 67,568 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of IDACORP by 3,692.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 64,655 shares of the energy company's stock valued at $7,014,000 after purchasing an additional 62,950 shares during the last quarter. Finally, 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 in the last quarter. 89.10% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Several research firms have issued reports on IDA. Bank of America upped their price objective on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Jefferies Financial Group cut their price target on IDACORP from $129.00 to $118.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley boosted their price objective on IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, IDACORP presently has an average rating of "Hold" and a consensus price target of $118.20.

IDACORP Trading Up 0.0 %

Shares of IDACORP stock traded up $0.05 during trading on Monday, reaching $116.01. 159,888 shares of the company were exchanged, compared to its average volume of 317,814. IDACORP, Inc. has a twelve month low of $88.70 and a twelve month high of $120.42. The business has a 50-day moving average price of $111.52 and a 200-day moving average price of $109.41. 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 firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 21.17, a P/E/G ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, beating 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 return on equity of 9.23% and a net margin of 15.83%. Sell-side analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.97%. IDACORP's dividend payout ratio is 62.77%.

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.