Legal & General Group Plc lessened its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 277,030 shares of the energy company's stock after selling 3,310 shares during the quarter. Legal & General Group Plc owned 0.52% of IDACORP worth $30,274,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. M&T Bank Corp increased its holdings in shares of IDACORP by 0.8% in the third quarter. M&T Bank Corp now owns 10,992 shares of the energy company's stock worth $1,133,000 after buying an additional 92 shares during the period. AMG National Trust Bank grew its position in IDACORP by 0.6% during the 4th quarter. AMG National Trust Bank now owns 15,248 shares of the energy company's stock worth $1,670,000 after acquiring an additional 98 shares during the last quarter. CENTRAL TRUST Co increased its stake in IDACORP by 13.7% in the 4th quarter. CENTRAL TRUST Co now owns 832 shares of the energy company's stock worth $91,000 after purchasing an additional 100 shares during the period. Perigon Wealth Management LLC lifted its position in IDACORP by 4.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company's stock valued at $311,000 after purchasing an additional 112 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its stake in shares of IDACORP by 4.4% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,720 shares of the energy company's stock valued at $303,000 after purchasing an additional 115 shares during the period. 89.10% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently commented on IDA. Morgan Stanley lifted their target price on shares of IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. UBS Group boosted their price objective 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. Bank of America increased their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Guggenheim raised IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. One investment 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, IDACORP presently has an average rating of "Hold" and an average price target of $120.50.
Check Out Our Latest Research Report on IDA
IDACORP Trading Up 1.0 %
Shares of NYSE IDA traded up $1.20 during midday trading on Friday, hitting $119.18. 272,311 shares of the company traded hands, compared to its average volume of 328,430. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. IDACORP, Inc. has a 12-month low of $90.23 and a 12-month high of $120.84. The stock has a 50-day moving average price of $114.94 and a 200 day moving average price of $111.59. The firm has a market cap of $6.44 billion, a P/E ratio of 21.75, a P/E/G ratio of 2.32 and a beta of 0.56.
IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. The firm had revenue of $398.13 million for the quarter, compared to the consensus estimate of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. As a group, analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current year.
IDACORP Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.89%. IDACORP's dividend payout ratio is currently 62.77%.
IDACORP Company Profile
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Free Report)
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.
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