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

Valeo Financial Advisors LLC acquired a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,179 shares of the energy company's stock, valued at approximately $253,000.

Several other institutional investors have also modified their holdings of IDA. Cambridge Investment Research Advisors Inc. increased its holdings in IDACORP by 4.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,487 shares of the energy company's stock worth $289,000 after purchasing an additional 100 shares during the period. HighPoint Advisor Group LLC increased its holdings in IDACORP by 4.4% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,720 shares of the energy company's stock worth $303,000 after purchasing an additional 115 shares during the period. Wood Tarver Financial Group LLC increased its holdings in IDACORP by 3.2% during the 1st quarter. Wood Tarver Financial Group LLC now owns 3,814 shares of the energy company's stock worth $443,000 after purchasing an additional 117 shares during the period. Versant Capital Management Inc increased its holdings in shares of IDACORP by 39.7% in the 1st quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock valued at $51,000 after acquiring an additional 125 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of IDACORP by 20.8% in the 1st quarter. GAMMA Investing LLC now owns 737 shares of the energy company's stock valued at $86,000 after acquiring an additional 127 shares during the period. 89.10% of the stock is owned by institutional investors.

IDACORP Trading Down 0.3%

NYSE:IDA traded down $0.31 during trading hours on Tuesday, reaching $117.87. 668,576 shares of the stock were exchanged, compared to its average volume of 370,639. The company has a quick ratio of 1.44, a current ratio of 1.81 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average of $115.32 and a two-hundred day moving average of $114.00. IDACORP, Inc. has a twelve month low of $93.16 and a twelve month high of $120.84. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 2.49 and a beta of 0.56.

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, 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 period last year, the firm earned $0.95 earnings per share. On average, equities analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 5th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Monday, May 5th. IDACORP's dividend payout ratio (DPR) is currently 61.10%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IDA. UBS Group reiterated a "neutral" rating and issued a $120.00 price target (up from $118.00) on shares of IDACORP in a report on Friday. 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. 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. Morgan Stanley set a $128.00 price objective on IDACORP and gave the company an "equal weight" rating in a report on Thursday, May 22nd. Finally, Wall Street Zen cut IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. One equities research 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 company currently has an average rating of "Hold" and an average target price of $122.86.

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.