Crewe Advisors LLC Acquires New Position in IDACORP, Inc. (NYSE:IDA)

Crewe Advisors LLC bought a new stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,881 shares of the energy company's stock, valued at approximately $1,148,000.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in IDACORP during the 1st quarter valued at about $34,000. Proficio Capital Partners LLC purchased a new position in IDACORP during the 4th quarter valued at about $45,000. Farther Finance Advisors LLC increased its position in IDACORP by 879.1% during the 1st quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock valued at $49,000 after purchasing an additional 378 shares during the period. Versant Capital Management Inc increased its position in IDACORP by 39.7% during the 1st quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock valued at $51,000 after purchasing an additional 125 shares during the period. Finally, Jones Financial Companies Lllp grew its position in shares of IDACORP by 1,333.3% in the 4th quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock worth $56,000 after buying an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Stock Down 0.1%

NYSE:IDA opened at $113.49 on Monday. The company has a market cap of $6.13 billion, a PE ratio of 20.16, a P/E/G ratio of 2.41 and a beta of 0.58. IDACORP, Inc. has a twelve month low of $90.67 and a twelve 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. The company's 50 day moving average is $115.93 and its two-hundred day moving average is $113.57.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.07. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. The company had revenue of $432.46 million for the quarter, compared to the consensus estimate of $442.24 million. During the same quarter in the previous year, the firm earned $0.95 EPS. Analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The firm 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. This represents a $3.44 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Monday, May 5th. IDACORP's payout ratio is 61.10%.

Analysts Set New Price Targets

IDA has been the topic of a number of analyst reports. Bank of America lifted their price objective on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Wells Fargo & Company lifted their price objective on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. UBS Group cut their price objective on shares of IDACORP from $121.00 to $120.00 and set a "neutral" rating on the stock in a research report on Monday, June 2nd. Finally, Morgan Stanley set a $128.00 price objective on shares of IDACORP and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, IDACORP presently has an average rating of "Hold" and a consensus 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.

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