TD Asset Management Inc Raises Holdings in IDACORP, Inc. (NYSE:IDA)

Key Points

• TD Asset Management Inc has increased its stake in IDACORP by 21.9% in the first quarter, owning 36,572 shares valued at approximately $4.25 million.
• In recent analyst reports, IDACORP received a mix of ratings with several firms upgrading their price targets; the average target is currently $122.86 and the stock has been rated as a "Moderate Buy."
• IDACORP declared a quarterly dividend of $0.86 per share, reflecting an annualized dividend yield of 2.8%, with a payout ratio of 60.56%.

TD Asset Management Inc raised its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 21.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,572 shares of the energy company's stock after purchasing an additional 6,578 shares during the period. TD Asset Management Inc owned 0.07% of IDACORP worth $4,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in IDA. Elite Financial Inc. bought a new position in IDACORP during the first quarter valued at $29,000. Opal Wealth Advisors LLC purchased a new position in shares of IDACORP during the 1st quarter worth about $34,000. Farther Finance Advisors LLC grew its holdings in IDACORP by 879.1% during the 1st quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock valued at $49,000 after purchasing an additional 378 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of IDACORP by 39.7% during the 1st quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock worth $51,000 after acquiring an additional 125 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in IDACORP by 20.8% in the first quarter. GAMMA Investing LLC now owns 737 shares of the energy company's stock worth $86,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Stock Down 0.8%

NYSE:IDA traded down $1.01 during mid-day trading on Friday, hitting $124.32. 461,496 shares of the company's stock traded hands, compared to its average volume of 484,575. The company has a fifty day moving average of $117.33 and a 200 day moving average of $115.32. IDACORP, Inc. has a twelve month low of $99.75 and a twelve month high of $126.33. The company has a market capitalization of $6.72 billion, a P/E ratio of 21.89, a P/E/G ratio of 2.62 and a beta of 0.56. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.44 and a current ratio of 1.81.

IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.76. IDACORP had a return on equity of 9.24% and a net margin of 16.96%. The company had revenue of $531.10 million for the quarter, compared to analyst estimates of $478.14 million. During the same period in the prior year, the company posted $1.71 EPS. On average, analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, August 5th. IDACORP's dividend payout ratio is currently 60.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Guggenheim raised their target price on shares of IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. UBS Group reaffirmed a "neutral" rating and set a $120.00 target price (up from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Wall Street Zen raised IDACORP from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Morgan Stanley set a $128.00 target price on IDACORP and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company lifted their target price on IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, IDACORP currently has an average rating of "Moderate Buy" and an average target price of $122.86.

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.