Royal London Asset Management Ltd. boosted its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 4.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,039 shares of the energy company's stock after buying an additional 9,271 shares during the quarter. Royal London Asset Management Ltd. owned 0.42% of IDACORP worth $22,890,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Mather Group LLC. boosted its stake in shares of IDACORP by 128.5% during the 2nd quarter. Mather Group LLC. now owns 962 shares of the energy company's stock worth $89,000 after purchasing an additional 541 shares during the period. CWM LLC boosted its position in shares of IDACORP by 55.0% during the second quarter. CWM LLC now owns 905 shares of the energy company's stock valued at $84,000 after buying an additional 321 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of IDACORP by 4.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,784 shares of the energy company's stock valued at $446,000 after buying an additional 225 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of IDACORP in the second quarter worth approximately $8,032,000. Finally, Boston Trust Walden Corp lifted its stake in shares of IDACORP by 1.3% during the 2nd quarter. Boston Trust Walden Corp now owns 576,189 shares of the energy company's stock worth $53,672,000 after acquiring an additional 7,194 shares during the last quarter. Institutional investors own 89.10% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have commented on the company. Mizuho raised IDACORP from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $102.00 to $116.00 in a research report on Friday, November 1st. Morgan Stanley upped their price target on shares of IDACORP from $102.00 to $108.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. Jefferies Financial Group started coverage on shares of IDACORP in a report on Friday, September 20th. They set a "hold" rating and a $110.00 price objective for the company. Wells Fargo & Company lifted their target price on IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $108.83.
View Our Latest Stock Report on IDACORP
IDACORP Stock Down 0.8 %
IDA traded down $0.87 during trading on Friday, hitting $115.12. The stock had a trading volume of 195,144 shares, compared to its average volume of 350,421. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $120.42. The stock has a 50 day simple moving average of $109.58 and a two-hundred day simple moving average of $101.83. 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 capitalization of $6.13 billion, a PE ratio of 21.36, a PEG ratio of 2.58 and a beta of 0.64.
IDACORP (NYSE:IDA - Get Free Report) last announced its 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 for the quarter, compared to analyst estimates of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same period in the prior year, the company earned $2.07 earnings per share. On average, research analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current year.
IDACORP Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Tuesday, November 5th. This is an increase from IDACORP's previous quarterly dividend of $0.83. IDACORP's payout ratio is currently 63.82%.
About IDACORP
(
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.
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