Vanguard Group Inc. Buys 77,230 Shares of IDACORP, Inc. (NYSE:IDA)

Vanguard Group Inc. grew its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,046,723 shares of the energy company's stock after purchasing an additional 77,230 shares during the period. Vanguard Group Inc. owned about 11.35% of IDACORP worth $660,786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB grew its position in IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock worth $26,000 after buying an additional 120 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of IDACORP in the 3rd quarter worth approximately $25,000. Versant Capital Management Inc grew its holdings in shares of IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock worth $34,000 after purchasing an additional 301 shares in the last quarter. Independence Bank of Kentucky increased its position in shares of IDACORP by 123.6% during the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock valued at $44,000 after purchasing an additional 225 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of IDACORP in the third quarter valued at $53,000. Institutional investors own 89.10% of the company's stock.

IDACORP Price Performance

Shares of NYSE IDA traded down $5.25 during mid-day trading on Friday, hitting $114.47. 536,122 shares of the stock were exchanged, compared to its average volume of 327,017. The company has a market cap of $6.18 billion, a P/E ratio of 20.89, a PEG ratio of 2.32 and a beta of 0.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. IDACORP, Inc. has a twelve month low of $88.70 and a twelve month high of $120.84. The stock's fifty day simple moving average is $113.59 and its two-hundred day simple moving average is $110.63.

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IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. The firm 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, analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were given a dividend of $0.86 per share. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 annualized dividend and a yield of 3.01%. IDACORP's dividend payout ratio (DPR) is 62.77%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IDA. Bank of America boosted their price target on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Guggenheim raised shares of IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday. Morgan Stanley upped their price objective on IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Finally, UBS Group raised their target price on IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, IDACORP has a consensus rating of "Hold" and a consensus target price of $120.50.

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.