Oak Thistle LLC Buys 9,644 Shares of IDACORP, Inc. (NYSE:IDA)

Oak Thistle LLC grew its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 115.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,022 shares of the energy company's stock after purchasing an additional 9,644 shares during the quarter. Oak Thistle LLC's holdings in IDACORP were worth $2,095,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Principal Securities Inc. boosted its stake in shares of IDACORP by 2.1% in the 1st quarter. Principal Securities Inc. now owns 4,410 shares of the energy company's stock valued at $482,000 after purchasing an additional 92 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in IDACORP by 4.2% during 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 in the last quarter. State of Michigan Retirement System boosted its stake in IDACORP by 0.8% during the first quarter. State of Michigan Retirement System now owns 12,720 shares of the energy company's stock worth $1,478,000 after acquiring an additional 100 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in IDACORP by 0.7% during the first quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the energy company's stock worth $1,732,000 after acquiring an additional 100 shares in the last quarter. Finally, HighPoint Advisor Group LLC boosted its stake in IDACORP by 4.4% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,720 shares of the energy company's stock worth $303,000 after acquiring an additional 115 shares in the last quarter. 89.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

IDA has been the topic of several research analyst reports. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Guggenheim increased their target price on shares of IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. UBS Group reissued 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. Morgan Stanley set a $128.00 target price on shares of IDACORP and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, IDACORP currently has a consensus rating of "Moderate Buy" and an average price target of $122.86.

IDACORP Stock Up 0.4%

Shares of IDA stock traded up $0.51 on Friday, hitting $123.28. The stock had a trading volume of 557,681 shares, compared to its average volume of 470,673. The business has a 50 day moving average of $116.64 and a 200 day moving average of $114.75. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 2.59 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 12-month low of $96.87 and a 12-month high of $125.42.

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

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th will be given a dividend of $0.86 per share. The ex-dividend date is Tuesday, August 5th. This represents a $3.44 annualized dividend and a yield of 2.79%. IDACORP's payout ratio is currently 61.10%.

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.