Guggenheim Capital LLC Acquires 3,459 Shares of IDACORP, Inc. (NYSE:IDA)

Guggenheim Capital LLC boosted its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 21.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,665 shares of the energy company's stock after acquiring an additional 3,459 shares during the period. Guggenheim Capital LLC's holdings in IDACORP were worth $2,149,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock worth $26,000 after buying an additional 120 shares in the last quarter. Versant Capital Management Inc increased its holdings in IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock worth $34,000 after buying an additional 301 shares during the last quarter. Independence Bank of Kentucky lifted its position in shares of IDACORP by 123.6% in 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 acquired a new position in IDACORP during the fourth quarter valued at approximately $45,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in IDACORP in the 3rd quarter valued at approximately $53,000. Institutional investors own 89.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IDA. Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. StockNews.com raised shares of IDACORP from a "sell" rating to a "hold" rating in a research note on Tuesday. UBS Group increased their price target on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Finally, 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. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $120.50.

IDACORP Trading Down 0.8 %

IDA traded down $0.92 during trading on Friday, reaching $116.54. 69,625 shares of the company's stock were exchanged, compared to its average volume of 329,264. The firm has a fifty day moving average price of $115.61 and a two-hundred day moving average price of $112.12. IDACORP, Inc. has a one year low of $90.64 and a one year high of $120.84. The stock has a market capitalization of $6.30 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56. 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 (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. The business had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. As a group, equities research analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Monday, May 5th. IDACORP's dividend payout ratio is presently 62.77%.

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.