Crewe Advisors LLC Invests $1.15 Million in IDACORP, Inc. (NYSE:IDA)

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

Other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in shares of IDACORP during the 1st quarter worth $34,000. Farther Finance Advisors LLC boosted its holdings in IDACORP by 879.1% during the first quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock worth $49,000 after buying an additional 378 shares in the last quarter. Versant Capital Management Inc grew its position in IDACORP by 39.7% during the first quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock worth $51,000 after buying an additional 125 shares during the period. Jones Financial Companies Lllp grew its position in IDACORP by 1,333.3% during the fourth 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 period. Finally, Steward Partners Investment Advisory LLC increased its holdings in IDACORP by 148.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 709 shares of the energy company's stock valued at $77,000 after buying an additional 424 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

Analyst Upgrades and Downgrades

IDA has been the topic of several research analyst reports. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Morgan Stanley set a $128.00 target price on IDACORP and gave the company an "equal weight" rating in a report on Thursday, May 22nd. 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 note on Friday, May 2nd. UBS Group decreased 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, Bank of America raised their target price on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $122.86.

IDACORP Price Performance

Shares of NYSE:IDA traded up $1.02 on Thursday, hitting $114.53. The company had a trading volume of 365,456 shares, compared to its average volume of 359,933. 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 has a market cap of $6.19 billion, a PE ratio of 20.34, a PEG ratio of 2.41 and a beta of 0.58. IDACORP, Inc. has a 52-week low of $91.66 and a 52-week high of $120.84. The business has a 50 day moving average of $115.58 and a 200 day moving average of $113.59.

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

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 5th were paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Monday, May 5th. IDACORP's payout ratio is 61.10%.

About IDACORP

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.