Good Steward Wealth Advisors LLC purchased a new stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,298 shares of the energy company's stock, valued at approximately $267,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp raised its stake in shares of IDACORP by 14.2% during the fourth quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company's stock valued at $1,809,000 after acquiring an additional 2,056 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of IDACORP during the fourth quarter valued at approximately $362,000. Empowered Funds LLC bought a new stake in shares of IDACORP during the fourth quarter valued at approximately $210,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of IDACORP by 2.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,641 shares of the energy company's stock valued at $616,000 after acquiring an additional 132 shares in the last quarter. Finally, Park Avenue Securities LLC raised its stake in shares of IDACORP by 5.4% during the first quarter. Park Avenue Securities LLC now owns 3,857 shares of the energy company's stock valued at $448,000 after acquiring an additional 197 shares in the last quarter. Institutional investors own 89.10% of the company's stock.
IDACORP Stock Up 1.9%
NYSE IDA traded up $2.20 on Monday, hitting $115.67. The stock had a trading volume of 237,954 shares, compared to its average volume of 358,372. The business's fifty day moving average price is $115.86 and its 200 day moving average price is $113.57. 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 52-week low of $90.67 and a 52-week high of $120.84. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 2.41 and a beta of 0.58.
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 (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.07. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. The business had revenue of $432.46 million for the quarter, compared to analyst estimates of $442.24 million. During the same period in the previous year, the company earned $0.95 earnings per share. Equities research analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.
IDACORP Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 5th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Monday, May 5th. IDACORP's dividend payout ratio is currently 61.10%.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Morgan Stanley set a $128.00 price objective on shares of IDACORP and gave the company an "equal weight" rating in a report on Thursday, May 22nd. Wells Fargo & Company lifted their price objective on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Guggenheim lifted 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. Finally, UBS Group cut their price objective on shares of IDACORP from $121.00 to $120.00 and set a "neutral" rating on the stock in a report on Monday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $122.86.
Check Out Our Latest Report on IDACORP
IDACORP Company Profile
(
Free Report)
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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