Point72 Asset Management L.P. Has $6.07 Million Stake in IDACORP, Inc. (NYSE:IDA)

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

A number of other large investors have also recently bought and sold shares of the company. AMG National Trust Bank grew its stake in IDACORP by 0.6% during the fourth quarter. AMG National Trust Bank now owns 15,248 shares of the energy company's stock worth $1,670,000 after buying an additional 98 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of IDACORP by 13.7% in the 4th quarter. CENTRAL TRUST Co now owns 832 shares of the energy company's stock valued at $91,000 after purchasing an additional 100 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in shares of IDACORP by 4.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company's stock valued at $311,000 after purchasing an additional 112 shares in the last quarter. HighPoint Advisor Group LLC boosted its stake in shares of IDACORP by 4.4% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,720 shares of the energy company's stock valued at $303,000 after purchasing an additional 115 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock valued at $26,000 after purchasing an additional 120 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IDA. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Morgan Stanley raised their price target on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. UBS Group raised their price target on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Bank of America raised their price target on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Finally, Wells Fargo & Company raised their price target on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $123.57.

IDACORP Stock Up 1.4%

NYSE:IDA opened at $117.18 on Tuesday. The firm's 50 day simple moving average is $115.91 and its 200 day simple moving average is $113.70. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP, Inc. has a one year low of $90.64 and a one year high of $120.84. The company has a market cap of $6.33 billion, a PE ratio of 21.38, a P/E/G ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, May 1st. The energy company reported $1.10 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 the consensus estimate of $442.24 million. During the same period last year, the company earned $0.95 EPS. On average, research analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be given a $0.86 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.94%. IDACORP's dividend payout ratio (DPR) is currently 61.10%.

IDACORP Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.