Good Steward Wealth Advisors LLC Takes Position in IDACORP, Inc. (NYSE:IDA)

Good Steward Wealth Advisors LLC acquired a new position in IDACORP, Inc. (NYSE:IDA - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,298 shares of the energy company's stock, valued at approximately $267,000.

A number of other large investors have also modified their holdings of IDA. State of Alaska Department of Revenue boosted its stake in IDACORP by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 36,061 shares of the energy company's stock valued at $4,190,000 after purchasing an additional 165 shares during the period. CENTRAL TRUST Co increased its stake in shares of IDACORP by 63.7% in the first quarter. CENTRAL TRUST Co now owns 1,362 shares of the energy company's stock valued at $158,000 after purchasing an additional 530 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of IDACORP in the first quarter valued at approximately $818,000. Opal Wealth Advisors LLC bought a new stake in shares of IDACORP during the first quarter valued at approximately $34,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in IDACORP by 7.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,583 shares of the energy company's stock worth $765,000 after buying an additional 456 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

IDACORP Stock Up 0.2%

NYSE IDA opened at $113.46 on Friday. The company has a market capitalization of $6.13 billion, a P/E ratio of 20.15, a PEG ratio of 2.41 and a beta of 0.58. IDACORP, Inc. has a 12 month low of $90.67 and a 12 month high of $120.84. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.81 and a quick ratio of 1.44. The company's 50 day simple moving average is $116.01 and its 200 day simple moving average is $113.62.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings data 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 business had revenue of $432.46 million during the quarter, compared to analyst estimates of $442.24 million. IDACORP had a return on equity of 9.13% and a net margin of 16.61%. During the same period last year, the company posted $0.95 EPS. Equities research analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The company 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 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Monday, May 5th. IDACORP's dividend payout ratio is presently 61.10%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Morgan Stanley set a $128.00 target price on IDACORP and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Wells Fargo & Company upped their price objective on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. UBS Group reduced their price target on shares of IDACORP from $121.00 to $120.00 and set a "neutral" rating for the company in a research note on Monday, June 2nd. Finally, Bank of America raised their price objective on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus 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.

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