Quantinno Capital Management LP Buys 2,895 Shares of IDACORP, Inc. (NYSE:IDA)

Quantinno Capital Management LP raised its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 23.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,450 shares of the energy company's stock after acquiring an additional 2,895 shares during the period. Quantinno Capital Management LP's holdings in IDACORP were worth $1,688,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IDA. Wellington Management Group LLP boosted its stake 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 in the last quarter. Reaves W H & Co. Inc. raised its position in IDACORP by 75.4% in the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock worth $109,103,000 after purchasing an additional 429,276 shares during the period. Raymond James Financial Inc. bought a new stake in IDACORP in the fourth quarter worth $37,104,000. Ameriprise Financial Inc. lifted its stake in IDACORP by 596.7% in the fourth quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company's stock worth $41,451,000 after purchasing an additional 324,866 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted 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 during the period. 89.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Bank of America lifted their price objective on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Morgan Stanley set a $128.00 price target on IDACORP and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. UBS Group boosted their price objective on IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Wall Street Zen lowered IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $123.14.

IDACORP Trading Up 1.7%

NYSE:IDA traded up $1.99 during mid-day trading on Tuesday, reaching $117.56. 53,288 shares of the company's stock traded hands, compared to its average volume of 344,920. The company has a 50 day moving average price of $115.90 and a 200-day moving average price of $113.89. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 2.32 and a beta of 0.59. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP, Inc. has a 12-month low of $90.64 and a 12-month high of $120.84.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings data 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. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The firm had revenue of $432.46 million for the quarter, compared to analyst estimates of $442.24 million. During the same period last year, the company earned $0.95 EPS. On average, sell-side analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Monday, May 5th. IDACORP's dividend 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.