Farringdon Capital Ltd. acquired a new position in IDACORP, Inc. (NYSE:IDA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,987 shares of the energy company's stock, valued at approximately $654,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co purchased a new stake in IDACORP in the 4th quarter worth approximately $704,000. Assenagon Asset Management S.A. acquired a new stake in IDACORP during the fourth quarter valued at $913,000. JPMorgan Chase & Co. grew its stake in IDACORP by 7.0% in the third quarter. JPMorgan Chase & Co. now owns 343,400 shares of the energy company's stock valued at $35,401,000 after purchasing an additional 22,485 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in IDACORP in the 4th quarter worth about $213,000. Finally, Van ECK Associates Corp increased its position in IDACORP by 14.2% in the 4th quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company's stock worth $1,809,000 after purchasing an additional 2,056 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.
IDACORP Price Performance
Shares of IDA traded up $1.71 during mid-day trading on Tuesday, reaching $117.99. The company had a trading volume of 100,310 shares, compared to its average volume of 327,188. The company's 50-day moving average is $115.19 and its 200-day moving average is $111.93. 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 capitalization of $6.37 billion, a P/E ratio of 21.53, a P/E/G ratio of 2.32 and a beta of 0.56. IDACORP, Inc. has a twelve month low of $90.64 and a twelve month high of $120.84.
IDACORP (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million for the quarter, compared to the consensus estimate of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. On average, equities analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.
IDACORP Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be given a $0.86 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.44 annualized dividend and a yield of 2.92%. IDACORP's payout ratio is 62.77%.
Wall Street Analysts Forecast Growth
IDA has been the topic of several analyst reports. Bank of America increased their price target on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. UBS Group raised their target price on IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Morgan Stanley upped their price target on IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Finally, Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $120.50.
View Our Latest Stock Report on IDACORP
IDACORP Company 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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