Trust Point Inc. Purchases 2,518 Shares of IDACORP, Inc. (NYSE:IDA)

Trust Point Inc. boosted its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 34.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,892 shares of the energy company's stock after purchasing an additional 2,518 shares during the period. Trust Point Inc.'s holdings in IDACORP were worth $1,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co raised its holdings in IDACORP by 13.7% during the fourth quarter. CENTRAL TRUST Co now owns 832 shares of the energy company's stock valued at $91,000 after buying an additional 100 shares in the last quarter. Journey Strategic Wealth LLC grew its holdings in IDACORP by 4.2% in the 4th quarter. Journey Strategic Wealth LLC now owns 4,202 shares of the energy company's stock valued at $459,000 after buying an additional 169 shares during the last quarter. Independence Bank of Kentucky grew its holdings in IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock valued at $44,000 after buying an additional 225 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in IDACORP by 4.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company's stock valued at $311,000 after buying an additional 112 shares during the last quarter. Finally, KBC Group NV grew its holdings in IDACORP by 60.5% in the 4th quarter. KBC Group NV now owns 1,939 shares of the energy company's stock valued at $212,000 after buying an additional 731 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Stock Up 0.1 %

IDA stock traded up $0.09 during mid-day trading on Wednesday, hitting $110.82. 245,980 shares of the company were exchanged, compared to its average volume of 293,356. 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 firm has a market cap of $5.90 billion, a P/E ratio of 20.56, a P/E/G ratio of 2.25 and a beta of 0.65. The firm's 50 day simple moving average is $110.86 and its 200 day simple moving average is $106.89. IDACORP, Inc. has a 1-year low of $86.43 and a 1-year high of $120.42.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP's dividend payout ratio (DPR) is currently 63.82%.

Wall Street Analyst Weigh In

A number of brokerages have commented on IDA. Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. StockNews.com downgraded IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Mizuho upgraded IDACORP from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. Jefferies Financial Group reduced their price objective on IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. Finally, Morgan Stanley raised their target price on IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $116.20.

About IDACORP

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.