UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 11,586 Shares of IDACORP, Inc. (NYSE:IDA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,822 shares of the energy company's stock after purchasing an additional 11,586 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.25% of IDACORP worth $14,515,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IDA. Independence Bank of Kentucky grew its stake 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 worth $44,000 after buying an additional 225 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in IDACORP during the 4th quarter worth $45,000. Jones Financial Companies Lllp increased its holdings in IDACORP by 1,333.3% in the 4th quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock worth $56,000 after purchasing an additional 480 shares in the last quarter. Asset Planning Inc bought a new position in IDACORP in the fourth quarter valued at about $58,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of IDACORP by 148.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 709 shares of the energy company's stock valued at $77,000 after purchasing an additional 424 shares in the last quarter. Institutional investors own 89.10% of the company's stock.

Analysts Set New Price Targets

IDA has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Bank of America boosted their price objective on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Wall Street Zen downgraded IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Guggenheim lifted their target price on IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, UBS Group reduced their price target on IDACORP from $121.00 to $120.00 and set a "neutral" rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $122.86.

IDACORP Trading Down 0.3%

NYSE:IDA traded down $0.35 during mid-day trading on Tuesday, reaching $116.88. 708,020 shares of the company's stock traded hands, compared to its average volume of 354,187. The company has a 50 day moving average price of $116.29 and a 200-day moving average price of $113.91. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 2.32 and a beta of 0.59. 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 12-month low of $90.64 and a 12-month high of $120.84.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly 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 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 in the previous year, the firm earned $0.95 EPS. On average, sell-side analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The firm also recently declared 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 2.94%. IDACORP's payout ratio is presently 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.