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 raised its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 132,822 shares of the energy company's stock after buying an additional 11,586 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.25% of IDACORP worth $14,515,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its stake in IDACORP by 285.6% in the 4th quarter. Point72 Asset Management L.P. now owns 55,581 shares of the energy company's stock worth $6,074,000 after purchasing an additional 41,167 shares during the period. ProShare Advisors LLC increased its stake in shares of IDACORP by 7.3% during the 4th quarter. ProShare Advisors LLC now owns 2,492 shares of the energy company's stock worth $272,000 after purchasing an additional 170 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of IDACORP by 23.1% during the 4th quarter. Quantinno Capital Management LP now owns 15,450 shares of the energy company's stock valued at $1,688,000 after purchasing an additional 2,895 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of IDACORP in the 4th quarter valued at $772,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of IDACORP in the 4th quarter valued at $362,000. 89.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Bank of America increased their price objective on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Morgan Stanley set a $128.00 target price on shares of IDACORP and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Wells Fargo & Company raised their price target on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, Wall Street Zen downgraded shares of 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 given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $123.14.

IDACORP Stock Up 0.7%

Shares of IDA stock traded up $0.78 during trading hours on Friday, reaching $118.96. The company had a trading volume of 679,420 shares, compared to its average volume of 352,046. IDACORP, Inc. has a 12 month low of $90.64 and a 12 month high of $120.84. The business has a fifty day simple moving average of $116.16 and a 200-day simple moving average of $113.93. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.03 by $0.07. The firm had revenue of $432.46 million for the quarter, compared to analyst estimates 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 prior year, the company earned $0.95 EPS. On average, research analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 5th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Monday, May 5th. IDACORP's payout ratio is 61.10%.

IDACORP 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.