339,536 Shares in IDACORP, Inc. (NYSE:IDA) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 339,536 shares of the energy company's stock, valued at approximately $37,104,000. Raymond James Financial Inc. owned 0.64% of IDACORP at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew 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 buying an additional 120 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock valued at $34,000 after purchasing an additional 301 shares during the period. Independence Bank of Kentucky raised its stake 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 worth $44,000 after purchasing an additional 225 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of IDACORP during the fourth quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in IDACORP in the 3rd quarter valued at $53,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IDA shares. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. 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 note on Monday, March 3rd. Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. UBS Group raised 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. Finally, Morgan Stanley lifted their price target on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, IDACORP currently has an average rating of "Hold" and a consensus price target of $120.50.

IDACORP Price Performance

NYSE:IDA traded down $0.53 during mid-day trading on Monday, hitting $118.77. 8,178 shares of the company's stock traded hands, compared to its average volume of 327,664. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The company has a market cap of $6.42 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56. The firm's 50 day simple moving average is $115.09 and its 200 day simple moving average is $111.83. IDACORP, Inc. has a 1 year low of $90.64 and a 1 year high of $120.84.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $398.13 million during the quarter, compared to the consensus estimate of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. Sell-side analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 5th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Monday, May 5th. IDACORP's dividend payout ratio is presently 62.77%.

About IDACORP

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.