Y Intercept Hong Kong Ltd purchased a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,074 shares of the energy company's stock, valued at approximately $882,000.
A number of other institutional investors have also added to or reduced their stakes in IDA. Allworth Financial LP boosted its stake in shares of IDACORP by 33.7% in the 3rd quarter. Allworth Financial LP now owns 2,847 shares of the energy company's stock worth $293,000 after buying an additional 717 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in IDACORP by 3.5% in the third quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the energy company's stock worth $1,526,000 after purchasing an additional 500 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in IDACORP by 7.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the energy company's stock valued at $532,000 after purchasing an additional 372 shares during the period. State of Alaska Department of Revenue increased its position in shares of IDACORP by 2.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 36,001 shares of the energy company's stock valued at $3,711,000 after purchasing an additional 710 shares during the last quarter. Finally, New York State Teachers Retirement System increased its position in shares of IDACORP by 6.1% during the 3rd quarter. New York State Teachers Retirement System now owns 82,016 shares of the energy company's stock valued at $8,455,000 after purchasing an additional 4,723 shares during the last quarter. 89.10% of the stock is owned by institutional investors.
IDACORP Stock Performance
Shares of NYSE IDA traded up $1.21 during midday trading on Monday, hitting $119.12. The company's stock had a trading volume of 236,578 shares, compared to its average volume of 301,006. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 2.32 and a beta of 0.65. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The stock has a fifty day moving average price of $110.44 and a 200 day moving average price of $108.50. IDACORP, Inc. has a one year low of $86.64 and a one year high of $120.42.
IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. The business had revenue of $398.13 million for the quarter, compared to analysts' expectations of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. On average, research analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.
IDACORP Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP's payout ratio is 62.77%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on IDA. Guggenheim raised shares of IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Jefferies Financial Group dropped their target price on shares of IDACORP from $129.00 to $118.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. Morgan Stanley raised their price target on shares of IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Friday, December 13th. Bank of America lifted their price target on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a report on Monday. Finally, StockNews.com lowered IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $118.20.
Read Our Latest Research Report on IDA
IDACORP Profile
(
Free Report)
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.
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