Mirabella Financial Services LLP Makes New $1.38 Million Investment in IDACORP, Inc. (NYSE:IDA)

Mirabella Financial Services LLP acquired a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,626 shares of the energy company's stock, valued at approximately $1,379,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of IDACORP by 90.9% during the third quarter. Barclays PLC now owns 27,184 shares of the energy company's stock worth $2,803,000 after purchasing an additional 12,944 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of IDACORP by 46.9% in the third quarter. Sanctuary Advisors LLC now owns 9,178 shares of the energy company's stock valued at $946,000 after purchasing an additional 2,930 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in IDACORP during the 3rd quarter worth $53,000. Tidal Investments LLC boosted its holdings in shares of IDACORP by 40.3% in the third quarter. Tidal Investments LLC now owns 15,341 shares of the energy company's stock valued at $1,582,000 after acquiring an additional 4,409 shares in the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of IDACORP by 1.5% during the third quarter. Retirement Systems of Alabama now owns 145,791 shares of the energy company's stock worth $15,030,000 after acquiring an additional 2,120 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Trading Down 0.8 %

NYSE IDA traded down $0.99 during mid-day trading on Friday, hitting $116.47. The company's stock had a trading volume of 271,364 shares, compared to its average volume of 329,620. The stock's fifty day simple moving average is $115.73 and its two-hundred day simple moving average is $112.22. IDACORP, Inc. has a 52-week low of $90.64 and a 52-week high of $120.84. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The firm has a market capitalization of $6.29 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56.

IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The business had revenue of $398.13 million for the quarter, compared to the consensus estimate of $403.21 million. Research analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Monday, May 5th. IDACORP's dividend payout ratio (DPR) is currently 62.77%.

Analyst Upgrades and Downgrades

IDA has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Guggenheim raised shares of IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Bank of America boosted their target price on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. UBS Group increased their price target on IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Finally, StockNews.com raised shares of IDACORP from a "sell" rating to a "hold" rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $120.50.

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.