GAMMA Investing LLC Grows Position in IDACORP, Inc. (NYSE:IDA)

GAMMA Investing LLC lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 13,941.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,654 shares of the energy company's stock after buying an additional 85,044 shares during the period. GAMMA Investing LLC owned about 0.16% of IDACORP worth $99,550,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Apollon Wealth Management LLC purchased a new position in shares of IDACORP during the 4th quarter worth approximately $213,000. Van ECK Associates Corp raised its stake in shares of IDACORP by 14.2% during the 4th quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company's stock worth $1,809,000 after buying an additional 2,056 shares in the last quarter. Barclays PLC raised its stake in shares of IDACORP by 90.9% during the 3rd quarter. Barclays PLC now owns 27,184 shares of the energy company's stock worth $2,803,000 after buying an additional 12,944 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of IDACORP during the 4th quarter worth approximately $210,000. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of IDACORP by 2.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,641 shares of the energy company's stock worth $616,000 after buying an additional 132 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Price Performance

NYSE IDA traded down $0.62 during mid-day trading on Thursday, hitting $114.80. The stock had a trading volume of 432,593 shares, compared to its average volume of 357,085. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The company has a 50 day simple moving average of $116.26 and a 200 day simple moving average of $113.90. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a 52-week low of $90.64 and a 52-week high of $120.84.

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, topping the consensus estimate of $1.03 by $0.07. The company 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 9.23% and a net margin of 15.83%. During the same quarter last year, the business posted $0.95 earnings per share. Equities analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on IDA shares. Bank of America increased their target price on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. UBS Group cut their target price on IDACORP from $121.00 to $120.00 and set a "neutral" rating for the company in a research note on Monday. Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Wall Street Zen downgraded IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company raised their price objective on IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $122.86.

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.