Point72 Asset Management L.P. Buys 41,167 Shares of IDACORP, Inc. (NYSE:IDA)

Point72 Asset Management L.P. increased its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 285.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,581 shares of the energy company's stock after acquiring an additional 41,167 shares during the period. Point72 Asset Management L.P. owned about 0.10% of IDACORP worth $6,074,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. bought a new stake in IDACORP during the 4th quarter worth $913,000. Apollon Wealth Management LLC bought a new stake in IDACORP during the 4th quarter worth $213,000. Van ECK Associates Corp grew its position in IDACORP by 14.2% during the 4th quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company's stock worth $1,809,000 after acquiring an additional 2,056 shares during the last quarter. Ballentine Partners LLC bought a new stake in IDACORP during the 4th quarter worth $313,000. Finally, Barclays PLC lifted its holdings in IDACORP by 90.9% during the 3rd quarter. Barclays PLC now owns 27,184 shares of the energy company's stock worth $2,803,000 after buying an additional 12,944 shares during the period. Institutional investors own 89.10% of the company's stock.

IDACORP Trading Up 0.4%

Shares of NYSE:IDA traded up $0.43 during midday trading on Friday, reaching $115.56. The company's stock had a trading volume of 432,599 shares, compared to its average volume of 345,998. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.32 and a beta of 0.59. 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 firm has a 50 day moving average price of $115.93 and a two-hundred day moving average price of $113.87. IDACORP, Inc. has a fifty-two week low of $90.64 and a fifty-two week high of $120.84.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $432.46 million for the quarter, compared to the consensus estimate of $442.24 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. During the same period in the previous year, the business earned $0.95 EPS. As a group, analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on IDA shares. Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Wells Fargo & Company lifted their target price on IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Bank of America lifted their target price on IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Morgan Stanley set a $128.00 target price on IDACORP and gave the stock an "equal weight" rating in a report on Thursday. Finally, Wall Street Zen downgraded IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $123.14.

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.