LVM Capital Management Ltd. MI Has $14.29 Million Stock Position in IDACORP, Inc. (NYSE:IDA)

LVM Capital Management Ltd. MI boosted its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 1.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,982 shares of the energy company's stock after acquiring an additional 2,240 shares during the quarter. IDACORP accounts for approximately 1.6% of LVM Capital Management Ltd. MI's investment portfolio, making the stock its 19th biggest position. LVM Capital Management Ltd. MI owned 0.23% of IDACORP worth $14,293,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of IDACORP by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock valued at $660,786,000 after acquiring an additional 77,230 shares during the period. Wellington Management Group LLP boosted its holdings in shares of IDACORP by 43.3% in the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock valued at $374,279,000 after purchasing an additional 1,035,133 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in IDACORP by 9.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company's stock valued at $208,692,000 after buying an additional 166,864 shares in the last quarter. Alliancebernstein L.P. raised its position in IDACORP by 2.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,379,408 shares of the energy company's stock valued at $150,742,000 after purchasing an additional 29,094 shares during the period. Finally, Reaves W H & Co. Inc. increased its stake in IDACORP by 75.4% during the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock worth $109,103,000 after buying an additional 429,276 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Price Performance

Shares of NYSE IDA traded up $0.36 during mid-day trading on Wednesday, reaching $117.08. 142,725 shares of the company traded hands, compared to its average volume of 353,797. IDACORP, Inc. has a fifty-two week low of $90.64 and a fifty-two week high of $120.84. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The stock has a fifty day simple moving average of $116.29 and a 200-day simple moving average of $113.91. The firm has a market cap of $6.32 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.07. The firm had revenue of $432.46 million for the quarter, compared to analysts' expectations 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 EPS. Equities research analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 5th were paid a $0.86 dividend. The ex-dividend date was Monday, May 5th. This represents a $3.44 annualized dividend and a yield of 2.94%. IDACORP's dividend payout ratio is presently 61.10%.

Wall Street Analysts Forecast Growth

IDA has been the subject of a number of recent analyst reports. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. UBS Group lowered their price objective on IDACORP from $121.00 to $120.00 and set a "neutral" rating for the company in a report on Monday. Bank of America increased their target price on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Wells Fargo & Company boosted their target price on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley set a $128.00 price target on shares of IDACORP and gave the company an "equal weight" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, IDACORP has a consensus rating of "Hold" and a consensus 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.