66,435 Shares in IDACORP, Inc. (NYSE:IDA) Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in IDACORP, purchasing 66,435 shares valued at approximately $7.72 million during the first quarter.
• IDACORP reported a quarterly EPS of $1.10, exceeding the consensus estimate of $1.03 and indicating a year-over-year increase from $0.95 EPS.
• The company announced a quarterly dividend of $0.86, representing an annualized amount of $3.44 and a dividend yield of 2.79%, with an ex-dividend date set for August 5th.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 66,435 shares of the energy company's stock, valued at approximately $7,721,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.12% of IDACORP as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Elite Financial Inc. purchased a new position in shares of IDACORP in the 1st quarter worth $29,000. Opal Wealth Advisors LLC purchased a new position in shares of IDACORP in the 1st quarter worth $34,000. Farther Finance Advisors LLC grew its stake in shares of IDACORP by 879.1% in the 1st quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock worth $49,000 after buying an additional 378 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of IDACORP by 39.7% in the 1st quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock worth $51,000 after buying an additional 125 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of IDACORP by 20.8% in the 1st quarter. GAMMA Investing LLC now owns 737 shares of the energy company's stock worth $86,000 after buying an additional 127 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Stock Up 0.0%

Shares of NYSE:IDA traded up $0.04 during trading hours on Wednesday, hitting $122.62. The company's stock had a trading volume of 464,198 shares, compared to its average volume of 466,428. IDACORP, Inc. has a 52 week low of $97.73 and a 52 week high of $125.42. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.81 and a quick ratio of 1.44. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 21.78, a P/E/G ratio of 2.59 and a beta of 0.56. The firm's fifty day moving average price is $116.95 and its 200 day moving average price is $115.01.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.03 by $0.07. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. The business 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 business posted $0.95 EPS. As a group, research analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th will be issued a $0.86 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.81%. IDACORP's dividend payout ratio is currently 61.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IDA shares. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Guggenheim lifted their price target on shares of IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Wells Fargo & Company lifted their price target on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Morgan Stanley set a $128.00 price target on shares of IDACORP and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. Finally, UBS Group reaffirmed a "neutral" rating and set a $120.00 price target (up from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.