Wellington Management Group LLP Boosts Stock Position in IDACORP, Inc. (NYSE:IDA)

Wellington Management Group LLP increased its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 43.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,424,956 shares of the energy company's stock after purchasing an additional 1,035,133 shares during the quarter. Wellington Management Group LLP owned approximately 6.35% of IDACORP worth $374,279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in IDA. M&T Bank Corp grew its holdings in shares of IDACORP by 0.8% during the third quarter. M&T Bank Corp now owns 10,992 shares of the energy company's stock worth $1,133,000 after buying an additional 92 shares in the last quarter. AMG National Trust Bank grew its stake in IDACORP by 0.6% in the 4th quarter. AMG National Trust Bank now owns 15,248 shares of the energy company's stock worth $1,670,000 after acquiring an additional 98 shares during the period. CENTRAL TRUST Co raised its holdings in IDACORP by 13.7% in the 4th quarter. CENTRAL TRUST Co now owns 832 shares of the energy company's stock valued at $91,000 after acquiring an additional 100 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in shares of IDACORP by 4.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company's stock worth $311,000 after purchasing an additional 112 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of 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 purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Bank of America increased their target price on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday. Morgan Stanley boosted their target price on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Guggenheim raised shares of IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, UBS Group boosted their price objective 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $120.50.

IDACORP Trading Down 4.4 %

IDA stock traded down $5.25 during midday trading on Friday, reaching $114.47. 536,122 shares of the company's stock traded hands, compared to its average volume of 327,159. IDACORP, Inc. has a fifty-two week low of $88.70 and a fifty-two week high of $120.84. The business has a 50-day moving average price of $113.59 and a two-hundred day moving average price of $110.73. The company has a market capitalization of $6.18 billion, a P/E ratio of 20.89, a PEG ratio of 2.32 and a beta of 0.56. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The business had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. Equities research analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

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

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.