Walleye Capital LLC Buys New Shares in IDACORP, Inc. (NYSE:IDA)

Walleye Capital LLC acquired a new position in IDACORP, Inc. (NYSE:IDA - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,399 shares of the energy company's stock, valued at approximately $557,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new position in IDACORP in the 2nd quarter worth $8,032,000. Algert Global LLC increased its position in shares of IDACORP by 42.5% in the 3rd quarter. Algert Global LLC now owns 35,383 shares of the energy company's stock worth $3,648,000 after purchasing an additional 10,550 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of IDACORP in the 2nd quarter worth about $1,833,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of IDACORP by 67.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company's stock worth $4,918,000 after purchasing an additional 19,274 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of IDACORP during the 3rd quarter valued at about $3,228,000. Institutional investors and hedge funds own 89.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IDA. StockNews.com downgraded shares of IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on shares of IDACORP from $106.00 to $109.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Morgan Stanley boosted their price objective on shares of IDACORP from $102.00 to $108.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th. Jefferies Financial Group began coverage on shares of IDACORP in a research report on Friday, September 20th. They set a "hold" rating and a $110.00 price objective for the company. Finally, Mizuho raised shares of IDACORP from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $102.00 to $116.00 in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, IDACORP has an average rating of "Hold" and an average price target of $108.83.

IDACORP Stock Performance

IDACORP stock traded down $1.59 during midday trading on Monday, reaching $113.53. 314,276 shares of the stock traded hands, compared to its average volume of 346,785. The firm has a fifty day moving average price of $109.79 and a two-hundred day moving average price of $102.03. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.56 and a beta of 0.64. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $120.42. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates of $2.17 by ($0.05). The company had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same period in the prior year, the company posted $2.07 earnings per share. On average, equities research analysts forecast that IDACORP, Inc. will post 5.41 earnings per share for the current year.

IDACORP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 5th were paid a dividend of $0.86 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This is a positive change from IDACORP's previous quarterly dividend of $0.83. This represents a $3.44 annualized dividend and a yield of 3.03%. IDACORP's dividend payout ratio is currently 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.