Graham Capital Management L.P. Boosts Stake in IDACORP, Inc. (NYSE:IDA)

Graham Capital Management L.P. raised its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 1,070.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,833 shares of the energy company's stock after purchasing an additional 29,114 shares during the quarter. Graham Capital Management L.P. owned 0.06% of IDACORP worth $3,479,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AMG National Trust Bank increased its holdings in IDACORP by 0.6% in the 4th quarter. AMG National Trust Bank now owns 15,248 shares of the energy company's stock worth $1,670,000 after purchasing an additional 98 shares in the last quarter. CENTRAL TRUST Co raised its holdings in 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 buying an additional 100 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of IDACORP by 4.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company's stock valued at $311,000 after acquiring an additional 112 shares during the last quarter. HighPoint Advisor Group LLC lifted its holdings in IDACORP by 4.4% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,720 shares of the energy company's stock worth $303,000 after buying an additional 115 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in IDACORP by 98.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock valued at $26,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 89.10% of the company's stock.

Analysts Set New Price Targets

IDA has been the topic of several recent analyst reports. StockNews.com lowered shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Morgan Stanley increased their price target on IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. UBS Group raised their price objective on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, Guggenheim boosted their target price on shares of IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $123.57.

IDACORP Stock Up 0.7%

NYSE IDA traded up $0.76 during mid-day trading on Friday, hitting $115.06. The company's stock had a trading volume of 135,154 shares, compared to its average volume of 340,893. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.32 and a beta of 0.59. The company's 50 day simple moving average is $115.87 and its 200 day simple moving average is $113.38. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a twelve month low of $90.64 and a twelve month high of $120.84.

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. The company had revenue of $432.46 million during the quarter, compared to the consensus estimate of $442.24 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. During the same period in the previous year, the firm posted $0.95 earnings per share. Analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 5th will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.99%. IDACORP's payout ratio is 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.