Valeo Financial Advisors LLC Makes New $253,000 Investment in IDACORP, Inc. (NYSE:IDA)

Valeo Financial Advisors LLC bought a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,179 shares of the energy company's stock, valued at approximately $253,000.

Several other hedge funds and other institutional investors have also modified their holdings of IDA. Wellington Management Group LLP lifted its position in shares of IDACORP by 43.3% during the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock worth $374,279,000 after buying an additional 1,035,133 shares during the period. Raymond James Financial Inc. bought a new position in IDACORP in the 4th quarter valued at $37,104,000. Ameriprise Financial Inc. raised its position in IDACORP by 596.7% in the 4th quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company's stock valued at $41,451,000 after purchasing an additional 324,866 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in IDACORP by 9.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company's stock valued at $208,692,000 after purchasing an additional 166,864 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in IDACORP by 13,941.6% in the 1st quarter. GAMMA Investing LLC now owns 85,654 shares of the energy company's stock valued at $99,550,000 after purchasing an additional 85,044 shares during the last quarter. Institutional investors own 89.10% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on IDA shares. Wells Fargo & Company lifted their price objective on IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Wall Street Zen downgraded IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. UBS Group lifted their price objective on IDACORP from $118.00 to $120.00 and gave the company a "neutral" rating in a research report on Friday. Guggenheim lifted their price objective on IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $122.86.

IDACORP Trading Down 0.3%

IDACORP stock traded down $0.36 during mid-day trading on Friday, hitting $117.54. The stock had a trading volume of 284,561 shares, compared to its average volume of 368,606. The stock has a 50-day simple moving average of $115.32 and a two-hundred day simple moving average of $113.95. The stock has a market capitalization of $6.35 billion, a PE ratio of 20.88, a P/E/G ratio of 2.50 and a beta of 0.56. IDACORP, Inc. has a 12 month low of $93.16 and a 12 month high of $120.84. The company has a current ratio of 1.81, a quick ratio of 1.44 and a debt-to-equity ratio of 1.03.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.07. The business had revenue of $432.46 million for the quarter, compared to analysts' expectations of $442.24 million. IDACORP had a return on equity of 9.13% and a net margin of 16.61%. During the same quarter last year, the business earned $0.95 earnings per share. As a group, sell-side analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 5th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.93%. The ex-dividend date was Monday, May 5th. IDACORP's dividend payout ratio is 61.10%.

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.