Versor Investments LP Buys Shares of 4,493 IDACORP, Inc. (NYSE:IDA)

Versor Investments LP acquired a new stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,493 shares of the energy company's stock, valued at approximately $463,000.

Other hedge funds have also bought and sold shares of the company. Sei Investments Co. increased its holdings in shares of IDACORP by 90.0% in the first quarter. Sei Investments Co. now owns 74,368 shares of the energy company's stock valued at $6,908,000 after purchasing an additional 35,217 shares during the period. Assenagon Asset Management S.A. acquired a new stake in IDACORP in the 2nd quarter valued at approximately $8,032,000. Tidal Investments LLC increased its position in IDACORP by 120.6% in the 1st quarter. Tidal Investments LLC now owns 9,341 shares of the energy company's stock valued at $867,000 after acquiring an additional 5,106 shares during the period. Westwood Holdings Group Inc. boosted its position in shares of IDACORP by 25.1% in the first quarter. Westwood Holdings Group Inc. now owns 256,446 shares of the energy company's stock worth $23,821,000 after buying an additional 51,521 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in IDACORP in the second quarter worth approximately $1,833,000. Hedge funds and other institutional investors own 89.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on IDA. Morgan Stanley raised their price target on shares of IDACORP from $102.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. Wells Fargo & Company increased their price objective on shares of IDACORP from $106.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Jefferies Financial Group began coverage on shares of IDACORP in a research report on Friday, September 20th. They issued a "hold" rating and a $110.00 target price for the company. Bank of America upgraded shares of IDACORP from a "neutral" rating to a "buy" rating and raised their target price for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. Finally, Mizuho raised shares of IDACORP from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $102.00 to $116.00 in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $108.83.

IDACORP Stock Up 0.4 %

NYSE IDA traded up $0.45 during trading hours on Friday, hitting $117.19. 322,507 shares of the company were exchanged, compared to its average volume of 349,944. The company has a 50 day moving average of $104.94 and a two-hundred day moving average of $99.54. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $119.65. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 2.61 and a beta of 0.60.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.05). IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The company had revenue of $528.53 million for the quarter, compared to analysts' expectations of $524.39 million. During the same period in the previous year, the business posted $2.07 EPS. Equities research analysts anticipate 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 will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Tuesday, November 5th. This is a boost from IDACORP's previous quarterly dividend of $0.83. IDACORP's dividend payout ratio (DPR) is presently 63.82%.

IDACORP Company 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.