Jupiter Asset Management Ltd. Acquires Shares of 54,562 IDACORP, Inc. (NYSE:IDA)

Jupiter Asset Management Ltd. acquired a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 54,562 shares of the energy company's stock, valued at approximately $6,341,000. Jupiter Asset Management Ltd. owned approximately 0.10% of IDACORP at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Elite Financial Inc. purchased a new position in shares of IDACORP in the 1st quarter valued at $29,000. Opal Wealth Advisors LLC purchased a new stake in IDACORP in the first quarter valued at approximately $34,000. Farther Finance Advisors LLC boosted its holdings in shares of IDACORP by 879.1% in the first quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock valued at $49,000 after acquiring an additional 378 shares during the period. Versant Capital Management Inc increased its holdings in shares of IDACORP by 39.7% in the 1st quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock valued at $51,000 after acquiring an additional 125 shares during the period. Finally, GAMMA Investing LLC grew its position in IDACORP by 20.8% during the 1st quarter. GAMMA Investing LLC now owns 737 shares of the energy company's stock worth $86,000 after purchasing an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Trading Up 0.3%

IDACORP stock traded up $0.34 during midday trading on Thursday, reaching $125.28. The stock had a trading volume of 98,269 shares, compared to its average volume of 420,378. The stock's 50-day simple moving average is $117.89 and its 200 day simple moving average is $115.61. IDACORP, Inc. has a twelve month low of $99.81 and a twelve month high of $126.70. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.12 and a current ratio of 1.45. The stock has a market capitalization of $6.77 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 2.65 and a beta of 0.56.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share for the quarter, meeting analysts' consensus estimates of $1.76. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. The firm had revenue of $531.10 million for the quarter, compared to analysts' expectations of $478.14 million. During the same period in the previous year, the company posted $1.71 earnings per share. Analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 5th. IDACORP's dividend payout ratio is presently 60.56%.

Analyst Ratings Changes

Several analysts have commented on the company. Guggenheim upped their price objective on IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. UBS Group reissued a "neutral" rating and issued a $120.00 price objective (up from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Morgan Stanley set a $128.00 price target on IDACORP and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company boosted their target price on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.