Nomura Holdings Inc. Makes New Investment in IDACORP, Inc. (NYSE:IDA)

Nomura Holdings Inc. purchased a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,068 shares of the energy company's stock, valued at approximately $772,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its stake in IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Independence Bank of Kentucky increased its stake in IDACORP by 123.6% during the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock worth $44,000 after acquiring an additional 225 shares during the last quarter. Jones Financial Companies Lllp increased its stake in IDACORP by 1,333.3% during the fourth quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock worth $56,000 after acquiring an additional 480 shares during the last quarter. Asset Planning Inc acquired a new stake in IDACORP during the fourth quarter worth about $58,000. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of IDACORP by 148.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 709 shares of the energy company's stock valued at $77,000 after buying an additional 424 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Price Performance

Shares of NYSE IDA opened at $117.18 on Tuesday. IDACORP, Inc. has a fifty-two week low of $90.64 and a fifty-two week high of $120.84. The business has a 50 day moving average price of $115.91 and a two-hundred day moving average price of $113.70. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The firm has a market cap of $6.33 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59.

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, beating 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 during the quarter, compared to analyst estimates of $442.24 million. During the same quarter last year, the firm earned $0.95 EPS. Sell-side analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Monday, May 5th. IDACORP's dividend payout ratio is presently 61.10%.

Wall Street Analyst Weigh In

IDA has been the subject of a number of recent research reports. Bank of America increased their target price on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Wells Fargo & Company increased their target price on IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. UBS Group increased their target price on IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Morgan Stanley increased their target price on IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Finally, Guggenheim increased their target price on IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, IDACORP has an average rating of "Hold" and an average target price of $123.57.

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.

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