Raymond James Financial Inc. bought a new stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 339,536 shares of the energy company's stock, valued at approximately $37,104,000. Raymond James Financial Inc. owned approximately 0.64% of IDACORP as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in the business. Arizona State Retirement System increased its holdings in IDACORP by 5.9% in the 4th quarter. Arizona State Retirement System now owns 15,454 shares of the energy company's stock valued at $1,689,000 after acquiring an additional 857 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in IDACORP during the fourth quarter worth $45,000. Keybank National Association OH increased its position in IDACORP by 24.6% during the fourth quarter. Keybank National Association OH now owns 9,986 shares of the energy company's stock valued at $1,091,000 after acquiring an additional 1,969 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of IDACORP by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,579 shares of the energy company's stock valued at $76,450,000 after acquiring an additional 7,286 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of IDACORP by 148.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 709 shares of the energy company's stock worth $77,000 after acquiring an additional 424 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.
IDACORP Stock Performance
IDA traded down $0.14 during trading on Friday, reaching $114.93. 110,308 shares of the company's stock were exchanged, compared to its average volume of 308,750. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP, Inc. has a 1 year low of $88.70 and a 1 year high of $120.42. The company's fifty day simple moving average is $111.38 and its 200-day simple moving average is $109.20. The stock has a market capitalization of $6.20 billion, a P/E ratio of 20.97, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59.
IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. The business 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%. As a group, research analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.
IDACORP Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.99%. The ex-dividend date was Wednesday, February 5th. IDACORP's payout ratio is currently 62.77%.
Analysts Set New Price Targets
IDA has been the topic of several recent analyst reports. Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Morgan Stanley lifted their price objective on shares of IDACORP from $110.00 to $121.00 and gave the company an "equal weight" rating in a report on Friday, December 13th. Bank of America boosted their price target on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Finally, Jefferies Financial Group decreased their target price on IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $118.20.
Check Out Our Latest Stock Report on IDACORP
IDACORP Profile
(
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.
Featured Articles
Before you consider IDACORP, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IDACORP wasn't on the list.
While IDACORP currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
