IDACORP, Inc. (NYSE:IDA) Stock Position Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 19.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,424 shares of the energy company's stock after acquiring an additional 12,769 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.14% of IDACORP worth $9,089,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in IDACORP during the 1st quarter worth $34,000. Proficio Capital Partners LLC acquired a new stake in IDACORP during the 4th quarter worth $45,000. Farther Finance Advisors LLC raised its stake in IDACORP by 879.1% during the 1st quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock worth $49,000 after acquiring an additional 378 shares in the last quarter. Versant Capital Management Inc raised its stake in IDACORP by 39.7% during the 1st quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock worth $51,000 after acquiring an additional 125 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in IDACORP by 1,333.3% during the 4th quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock worth $56,000 after acquiring an additional 480 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Trading Up 0.7%

Shares of IDACORP stock traded up $0.83 during trading hours on Friday, hitting $115.99. The company's stock had a trading volume of 274,008 shares, compared to its average volume of 364,895. The business has a fifty day moving average of $115.36 and a 200 day moving average of $113.69. The company has a market capitalization of $6.27 billion, a PE ratio of 20.60, a P/E/G ratio of 2.46 and a beta of 0.56. IDACORP, Inc. has a 1-year low of $91.77 and a 1-year high of $120.84. The company has a quick ratio of 1.44, a current ratio of 1.81 and a debt-to-equity ratio of 1.03.

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

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 5th were paid a dividend of $0.86 per share. The ex-dividend date was Monday, May 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.97%. IDACORP's dividend payout ratio (DPR) is 61.10%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Morgan Stanley set a $128.00 price objective on shares of IDACORP and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Guggenheim lifted their price objective on shares of IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. 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. Wall Street Zen lowered shares of IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $122.86.

IDACORP 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.