IDACORP, Inc. (NYSE:IDA) Stake Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised 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 SEC. The fund owned 171,617 shares of the energy company's stock after buying an additional 4,112 shares during the period. Envestnet Asset Management Inc. owned 0.32% of IDACORP worth $19,945,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IDA. Elite Financial Inc. purchased a new stake in shares of IDACORP during the 1st quarter worth approximately $29,000. OneDigital Investment Advisors LLC increased its stake in shares of IDACORP by 6.9% during the 1st quarter. OneDigital Investment Advisors LLC now owns 2,823 shares of the energy company's stock worth $328,000 after purchasing an additional 181 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of IDACORP by 3.7% during the 1st quarter. D.A. Davidson & CO. now owns 5,027 shares of the energy company's stock worth $584,000 after purchasing an additional 178 shares during the last quarter. Buffington Mohr McNeal grew its stake in IDACORP by 344.4% in the 1st quarter. Buffington Mohr McNeal now owns 21,871 shares of the energy company's stock valued at $2,542,000 after buying an additional 16,950 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in IDACORP by 103.0% in the 1st quarter. Teacher Retirement System of Texas now owns 8,484 shares of the energy company's stock valued at $986,000 after buying an additional 4,305 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Price Performance

NYSE IDA traded up $1.25 during trading on Friday, reaching $120.18. The company's stock had a trading volume of 465,282 shares, compared to its average volume of 373,484. The stock has a market capitalization of $6.49 billion, a PE ratio of 21.35, a P/E/G ratio of 2.54 and a beta of 0.56. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.81 and a quick ratio of 1.44. IDACORP, Inc. has a one year low of $94.36 and a one year high of $120.84. The firm has a fifty day moving average of $115.64 and a 200 day moving average of $114.30.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.03 by $0.07. The business had revenue of $432.46 million for 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 company posted $0.95 earnings per share. Analysts expect that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th will be given a $0.86 dividend. The ex-dividend date is Tuesday, August 5th. 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 analysts have recently issued reports on the stock. Morgan Stanley set a $128.00 price objective on shares of IDACORP and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. UBS Group reiterated a "neutral" rating and issued a $120.00 price objective (up from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a research note on Friday. Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Finally, Guggenheim increased their price objective on IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.