Natixis Advisors LLC increased its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 70.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,261 shares of the energy company's stock after purchasing an additional 41,720 shares during the period. Natixis Advisors LLC owned 0.19% of IDACORP worth $11,769,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in IDA. American Century Companies Inc. raised its holdings in shares of IDACORP by 311.5% during the fourth quarter. American Century Companies Inc. now owns 15,661 shares of the energy company's stock valued at $1,712,000 after buying an additional 11,855 shares during the last quarter. LPL Financial LLC lifted its stake in IDACORP by 38.3% during the fourth quarter. LPL Financial LLC now owns 28,821 shares of the energy company's stock valued at $3,150,000 after purchasing an additional 7,985 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of IDACORP by 11.3% during the 4th quarter. Prudential Financial Inc. now owns 6,255 shares of the energy company's stock valued at $733,000 after acquiring an additional 634 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in IDACORP by 9.4% during the 4th quarter. JPMorgan Chase & Co. now owns 375,522 shares of the energy company's stock worth $41,037,000 after buying an additional 32,122 shares during the period. Finally, National Bank of Canada FI purchased a new stake in shares of IDACORP in the fourth quarter valued at $1,781,000. 89.10% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have issued reports on IDA. UBS Group reiterated a "neutral" rating and issued a $120.00 target price (up previously from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Wells Fargo & Company increased their price objective on IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Morgan Stanley set a $128.00 price objective on shares of IDACORP and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Finally, Guggenheim boosted their target price on shares of IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, IDACORP has an average rating of "Moderate Buy" and an average price target of $122.86.
Read Our Latest Research Report on IDACORP
IDACORP Trading Up 0.3%
IDA 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. IDACORP, Inc. has a twelve month low of $99.81 and a twelve month high of $126.70. The business has a fifty day simple moving average of $117.89 and a two-hundred day simple moving average of $115.61. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 2.65 and a beta of 0.56.
IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The energy company reported $1.76 earnings per share for the quarter, meeting the consensus estimate of $1.76. The business had revenue of $531.10 million for the quarter, compared to analysts' expectations of $478.14 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%. During the same quarter in the previous year, the business posted $1.71 EPS. As a group, research analysts expect that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.
IDACORP Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th will be paid a $0.86 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.7%. IDACORP's dividend payout ratio (DPR) is currently 60.56%.
About IDACORP
(
Free Report)
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.
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