Envestnet Asset Management Inc. Boosts Stock Position in IDACORP, Inc. (NYSE:IDA)

Envestnet Asset Management Inc. lifted its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,617 shares of the energy company's stock after purchasing an additional 4,112 shares during the period. Envestnet Asset Management Inc. owned about 0.32% of IDACORP worth $19,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its position in shares of IDACORP by 4.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,487 shares of the energy company's stock worth $289,000 after acquiring an additional 100 shares during the period. HighPoint Advisor Group LLC raised its holdings in IDACORP by 4.4% in 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. Versant Capital Management Inc raised its holdings in IDACORP by 39.7% in the 1st quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock worth $51,000 after purchasing an additional 125 shares during the period. GAMMA Investing LLC boosted its position in IDACORP by 20.8% during the first quarter. GAMMA Investing LLC now owns 737 shares of the energy company's stock worth $86,000 after purchasing an additional 127 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in IDACORP by 2.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,641 shares of the energy company's stock valued at $616,000 after purchasing an additional 132 shares during the period. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Stock Performance

IDA traded up $1.25 on Friday, reaching $120.18. The company had a trading volume of 465,282 shares, compared to its average volume of 372,916. The stock has a 50-day moving average price of $115.54 and a 200-day moving average price of $114.19. The stock has a market capitalization of $6.49 billion, a PE ratio of 21.35, a P/E/G ratio of 2.51 and a beta of 0.56. IDACORP, Inc. has a 1 year low of $93.57 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 posted 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 business had revenue of $432.46 million during the quarter, compared to the consensus estimate of $442.24 million. IDACORP had a return on equity of 9.13% and a net margin of 16.61%. During the same period in the previous year, the business earned $0.95 EPS. As a group, research analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.86%. IDACORP's payout ratio is 61.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Morgan Stanley set a $128.00 price target on shares of IDACORP and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Guggenheim boosted their price objective on shares of IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Wall Street Zen lowered IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Finally, UBS Group reaffirmed a "neutral" rating and set a $120.00 target price (up from $118.00) on shares of IDACORP in a research note on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target 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.