MetLife Investment Management LLC Buys 2,550 Shares of IDACORP, Inc. (NYSE:IDA)

MetLife Investment Management LLC lifted its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 30,026 shares of the energy company's stock after acquiring an additional 2,550 shares during the quarter. MetLife Investment Management LLC owned 0.06% of IDACORP worth $3,281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in IDACORP by 98.4% during the 4th 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 during the last quarter. Versant Capital Management Inc boosted its stake in shares of IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock valued at $34,000 after buying an additional 301 shares in the last quarter. Independence Bank of Kentucky grew its stake in shares of IDACORP by 123.6% during the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock worth $44,000 after purchasing an additional 225 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of IDACORP in the 3rd quarter valued at about $53,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of IDACORP by 1,333.3% in the fourth quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock valued at $56,000 after purchasing an additional 480 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on IDA shares. UBS Group increased their target price on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Bank of America raised their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Morgan Stanley increased their target price on IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Finally, Guggenheim raised IDACORP from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, IDACORP has an average rating of "Hold" and a consensus target price of $120.50.

IDACORP Stock Performance

IDA stock traded up $1.30 on Friday, reaching $117.60. The company's stock had a trading volume of 83,057 shares, compared to its average volume of 330,070. The firm has a fifty day moving average of $116.06 and a two-hundred day moving average of $112.67. The company has a market capitalization of $6.35 billion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP, Inc. has a 52 week low of $90.64 and a 52 week high of $120.84.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.07. The business had revenue of $432.46 million during the quarter, compared to analyst estimates of $442.24 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. During the same period in the previous year, the company earned $0.95 EPS. As a group, analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently announced 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 2.93%. The ex-dividend date of this dividend is Monday, May 5th. IDACORP's payout ratio is 62.77%.

IDACORP 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.