Russell Investments Group Ltd. lessened its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 42.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 98,260 shares of the energy company's stock after selling 72,225 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.18% of IDACORP worth $10,738,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in IDACORP by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock worth $660,786,000 after acquiring an additional 77,230 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of IDACORP by 43.3% during the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock worth $374,279,000 after purchasing an additional 1,035,133 shares in the last quarter. State Street Corp raised its position in shares of IDACORP by 5.5% during the 3rd 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 during the last quarter. Alliancebernstein L.P. raised its position in shares of IDACORP by 2.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,379,408 shares of the energy company's stock worth $150,742,000 after purchasing an additional 29,094 shares during the last quarter. Finally, Reaves W H & Co. Inc. lifted its stake in IDACORP by 75.4% in the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock valued at $109,103,000 after buying an additional 429,276 shares in the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.
IDACORP Trading Up 0.2 %
IDACORP stock traded up $0.23 during trading on Tuesday, reaching $119.51. The company had a trading volume of 374,548 shares, compared to its average volume of 328,948. IDACORP, Inc. has a 12-month low of $88.70 and a 12-month high of $120.84. 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 stock's 50 day moving average price is $114.45 and its two-hundred day moving average price is $111.37. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 2.32 and a beta of 0.56.
IDACORP (NYSE:IDA - Get Free Report) last announced 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 company had revenue of $398.13 million during the quarter, compared to analysts' expectations of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. As a group, equities analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.
IDACORP Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were issued a $0.86 dividend. 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 2.88%. IDACORP's dividend payout ratio (DPR) is 62.77%.
Analyst Ratings Changes
Several research firms have weighed in on IDA. Guggenheim raised IDACORP from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. UBS Group boosted their target price on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Bank of America boosted their price objective on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Finally, Morgan Stanley upped their price objective on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $120.50.
View Our Latest Stock Report on IDACORP
IDACORP Company Profile
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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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