111 Capital Makes New Investment in IDACORP, Inc. (NYSE:IDA)

111 Capital bought a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,449 shares of the energy company's stock, valued at approximately $595,000.

Several other hedge funds have also recently modified their holdings of IDA. Wealth Enhancement Advisory Services LLC raised its holdings in shares of IDACORP by 18.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,127 shares of the energy company's stock worth $670,000 after purchasing an additional 971 shares during the period. Wood Tarver Financial Group LLC bought a new stake in shares of IDACORP in the 4th quarter worth approximately $403,000. Putney Financial Group LLC bought a new stake in shares of IDACORP in the 4th quarter worth approximately $163,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of IDACORP by 9.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 132,822 shares of the energy company's stock worth $14,515,000 after purchasing an additional 11,586 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of IDACORP by 285.6% in the 4th quarter. Point72 Asset Management L.P. now owns 55,581 shares of the energy company's stock worth $6,074,000 after purchasing an additional 41,167 shares during the period. Institutional investors own 89.10% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on IDA shares. Guggenheim lifted their price target on shares of IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Morgan Stanley set a $128.00 price target on shares of IDACORP and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. UBS Group reduced their price objective on shares of IDACORP from $121.00 to $120.00 and set a "neutral" rating for the company in a research note on Monday. Finally, Wells Fargo & Company lifted their price objective on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, IDACORP has a consensus rating of "Hold" and an average price target of $122.86.

IDACORP Stock Performance

IDACORP stock traded down $1.74 during mid-day trading on Monday, reaching $117.21. The company's stock had a trading volume of 611,913 shares, compared to its average volume of 353,086. IDACORP, Inc. has a 12-month low of $90.64 and a 12-month high of $120.84. The company has a market capitalization of $6.33 billion, a P/E ratio of 21.39, a PEG ratio of 2.32 and a beta of 0.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The firm's fifty day moving average price is $116.24 and its two-hundred day moving average price is $113.89.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.07. The firm had revenue of $432.46 million during the quarter, compared to analyst estimates of $442.24 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. During the same period in the previous year, the business earned $0.95 EPS. Sell-side analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 5th were given a $0.86 dividend. The ex-dividend date was Monday, May 5th. This represents a $3.44 annualized dividend and a yield of 2.93%. IDACORP's dividend payout ratio (DPR) is presently 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.