Bridgewater Associates LP Takes Position in IDACORP, Inc. (NYSE:IDA)

Bridgewater Associates LP bought a new stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 69,061 shares of the energy company's stock, valued at approximately $7,547,000. Bridgewater Associates LP owned approximately 0.13% of IDACORP as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its stake in IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Versant Capital Management Inc grew its holdings in IDACORP by 2,150.0% during the 4th 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 last quarter. Independence Bank of Kentucky lifted its stake in IDACORP by 123.6% in 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. Wilmington Savings Fund Society FSB purchased a new position in shares of IDACORP during the third quarter valued at approximately $53,000. Finally, Jones Financial Companies Lllp grew its stake in shares of IDACORP by 1,333.3% during the fourth quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock valued at $56,000 after buying an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Stock Up 1.4 %

IDACORP stock traded up $1.62 during midday trading on Tuesday, reaching $117.90. The company's stock had a trading volume of 50,125 shares, compared to its average volume of 327,688. IDACORP, Inc. has a 52-week low of $90.64 and a 52-week high of $120.84. The stock has a market capitalization of $6.37 billion, a P/E ratio of 21.54, 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. The stock's 50-day simple moving average is $115.19 and its 200-day simple moving average is $111.93.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, topping 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 company had revenue of $398.13 million for the quarter, compared to the consensus estimate of $403.21 million. On average, sell-side analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.92%. The ex-dividend date is Monday, May 5th. IDACORP's payout ratio is 62.77%.

Analysts Set New Price Targets

IDA has been the topic of a number of recent analyst reports. Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. UBS Group lifted their target price on IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Morgan Stanley increased their target price on shares of IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. Finally, Bank of America upped their price target on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, IDACORP presently has an average rating of "Hold" and an average price target of $120.50.

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.