MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Takes Position in IDACORP, Inc. (NYSE:IDA)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,315 shares of the energy company's stock, valued at approximately $362,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of IDACORP by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock valued at $660,786,000 after buying an additional 77,230 shares during the last quarter. Wellington Management Group LLP increased its position in 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 acquiring an additional 1,035,133 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in IDACORP by 9.6% during the 4th 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 acquiring an additional 166,864 shares during the last quarter. Alliancebernstein L.P. lifted its position in IDACORP by 2.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,379,408 shares of the energy company's stock worth $150,742,000 after acquiring an additional 29,094 shares during the period. Finally, Reaves W H & Co. Inc. lifted its position 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 acquiring an additional 429,276 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Price Performance

NYSE:IDA traded down $1.29 during trading hours on Wednesday, hitting $115.43. The company's stock had a trading volume of 666,877 shares, compared to its average volume of 356,100. IDACORP, Inc. has a 52-week low of $90.64 and a 52-week high of $120.84. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The business's 50-day moving average is $116.29 and its two-hundred day moving average is $113.92. The company has a market capitalization of $6.24 billion, a PE ratio of 21.06, a PEG ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The business had revenue of $432.46 million during the quarter, compared to the consensus estimate of $442.24 million. During the same quarter last year, the firm posted $0.95 EPS. As a group, research analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 5th were paid a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.98%. IDACORP's dividend payout ratio (DPR) is 61.10%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wall Street Zen cut IDACORP from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Morgan Stanley set a $128.00 price objective on shares of IDACORP and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Wells Fargo & Company lifted their target price 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. UBS Group dropped their price target on shares of IDACORP from $121.00 to $120.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, IDACORP presently has an average rating of "Hold" and a consensus target price of $122.86.

IDACORP 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.