NBC Securities Inc. Acquires 35,978 Shares of IDACORP, Inc. (NYSE:IDA)

NBC Securities Inc. lifted its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 138,376.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,004 shares of the energy company's stock after buying an additional 35,978 shares during the period. NBC Securities Inc. owned about 0.07% of IDACORP worth $4,184,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of IDA. Independence Bank of Kentucky boosted its position in shares of IDACORP by 123.6% during the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock valued at $44,000 after buying an additional 225 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in IDACORP in the fourth quarter worth $45,000. Versant Capital Management Inc boosted its position in IDACORP by 39.7% in the first quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock worth $51,000 after purchasing an additional 125 shares during the last quarter. Jones Financial Companies Lllp boosted its position in IDACORP by 1,333.3% in the fourth quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock worth $56,000 after purchasing an additional 480 shares during the last quarter. Finally, Asset Planning Inc purchased a new position in IDACORP in the fourth quarter worth $58,000. Hedge funds and other institutional investors own 89.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Bank of America boosted their price objective on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Morgan Stanley set a $128.00 price objective on IDACORP and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Wells Fargo & Company upped their price target on IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Wall Street Zen cut IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, IDACORP has an average rating of "Hold" and an average price target of $122.86.

IDACORP Price Performance

IDA stock traded down $0.23 during mid-day trading on Thursday, reaching $115.19. 124,263 shares of the company traded hands, compared to its average volume of 355,222. 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 current ratio of 1.70 and a quick ratio of 1.34. The company has a market capitalization of $6.22 billion, a P/E ratio of 21.02, a P/E/G ratio of 2.32 and a beta of 0.59. The company has a fifty day moving average price of $116.29 and a 200-day moving average price of $113.92.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $442.24 million. During the same period in the prior year, the company posted $0.95 EPS. As a group, analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The firm also recently announced 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 of this dividend was Monday, May 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.99%. IDACORP's dividend payout ratio is currently 61.10%.

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.