Ameriprise Financial Inc. Raises Holdings in IDACORP, Inc. (NYSE:IDA)

Ameriprise Financial Inc. grew its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 596.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 379,312 shares of the energy company's stock after purchasing an additional 324,866 shares during the period. Ameriprise Financial Inc. owned approximately 0.71% of IDACORP worth $41,451,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of IDACORP by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock valued at $660,786,000 after purchasing an additional 77,230 shares in the last quarter. Wellington Management Group LLP grew its position in IDACORP by 43.3% in the fourth quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock worth $374,279,000 after acquiring an additional 1,035,133 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in IDACORP by 9.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company's stock worth $208,692,000 after acquiring an additional 166,864 shares in the last quarter. Alliancebernstein L.P. grew its position in IDACORP by 2.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,379,408 shares of the energy company's stock worth $150,742,000 after acquiring an additional 29,094 shares in the last quarter. Finally, Reaves W H & Co. Inc. grew its position in IDACORP by 75.4% in the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock worth $109,103,000 after acquiring an additional 429,276 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Stock Up 1.1%

Shares of NYSE IDA opened at $114.92 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The company has a market cap of $6.21 billion, a P/E ratio of 20.97, a PEG ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a 1 year low of $90.64 and a 1 year high of $120.84. The firm has a 50-day simple moving average of $115.99 and a two-hundred day simple moving average of $113.28.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The business had revenue of $432.46 million during the quarter, compared to the consensus estimate of $442.24 million. During the same quarter last year, the firm earned $0.95 earnings per share. Research analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Monday, May 5th. IDACORP's dividend payout ratio is presently 61.10%.

Analysts Set New Price Targets

IDA has been the subject of several recent research reports. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. StockNews.com lowered IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. UBS Group lifted their price target on IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Guggenheim lifted their price target on IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Wells Fargo & Company lifted their price target on IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $123.57.

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.

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