T. Rowe Price Investment Management Inc. Boosts Stock Position in IDACORP, Inc. (NYSE:IDA)

T. Rowe Price Investment Management Inc. boosted its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,909,695 shares of the energy company's stock after purchasing an additional 166,864 shares during the period. T. Rowe Price Investment Management Inc. owned 3.58% of IDACORP worth $208,692,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of IDACORP by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock valued at $660,786,000 after buying an additional 77,230 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of IDACORP by 43.3% in the fourth quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock valued at $374,279,000 after buying an additional 1,035,133 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of IDACORP by 2.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,379,408 shares of the energy company's stock valued at $150,742,000 after buying an additional 29,094 shares during the last quarter. Reaves W H & Co. Inc. lifted its position in shares of IDACORP by 75.4% in the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock valued at $109,103,000 after buying an additional 429,276 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of IDACORP by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 954,035 shares of the energy company's stock worth $104,288,000 after purchasing an additional 3,829 shares during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IDA. StockNews.com raised IDACORP from a "sell" rating to a "hold" rating in a report on Tuesday, April 22nd. Bank of America lifted their target price on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. UBS Group boosted their price target on IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group upgraded shares of IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, IDACORP has an average rating of "Moderate Buy" and an average price target of $120.50.

IDACORP Trading Up 0.4 %

Shares of NYSE IDA traded up $0.46 during trading hours on Tuesday, hitting $118.11. The company's stock had a trading volume of 113,593 shares, compared to its average volume of 328,154. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 2.32 and a beta of 0.56. IDACORP, Inc. has a 12 month low of $90.64 and a 12 month high of $120.84. The business has a 50-day simple moving average of $115.85 and a 200-day simple moving average of $112.51.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. The business had revenue of $398.13 million for the quarter, compared to analysts' expectations of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. On average, analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 5th will be issued a $0.86 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.91%. IDACORP's payout ratio is currently 62.77%.

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.